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2020 Ken Pratt BlvdLongmont, CO 80501
Burger King
Asset ClassRetail
Deal Size$1.69 M
Cap Rate: 5.54%Access Data Room
Rare Low Price Point Percentage Rent | NNN Investment Property
overview of deal

Overview

Price: $1,692,000 | Cap Rate: 5.54%

Base Rent: $63,600 | % Rent: $30,141 | NOI: $93,741

 

  • Address: 2020 Ken Pratt Blvd, Longmont, CO
  • Building SF: 2,958
  • Year Built / Remodeled: 1985 / 2017
  • Lease Term Remaining: 12 Years
  • Lease Type: Absolute Triple Net (NNN)

 

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Investment Highlights

  • Passive Cash-flow: 12+ years remaining on an absolute NNN lease with no landlord responsibilities.
  • Percentage Rent Lease: This rare structure provides investors with potential upside in rent and a hedge against inflation. The lease also assures that the tenant remains profitable and committed to the location. (See Page 4)
  • Recent Remodel: The 2,958 SF drive-thru building was completely remodeled in 2016 to reflect the most recent Burger King building prototype.
  • Low Price-Point & Replaceable Rent: The tenant is paying below typical rent compared to other free-standing QSR properties throughout Colorado. It is also currently one of the lowest price-point QSR listings in the state.
  • Village At the Peaks: The property is situated at the entrance to the Village at the Peaks shopping center, the most visited shopping center in Longmont. With 6 million annual visits, the Village at Peaks ranks in the 97th percentile for shopping centers nationwide and the 96th percentile for shopping centers in Colorado.
  • Strategic Location: The subject has direct visibility and access from Ken Pratt Blvd (25,000+ VPD). Situated on a signalized corner pad to the larger center, patrons can easily access the property on their way to and from the larger center.
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2020 Ken Pratt BlvdLongmont, CO 80501
Village at the Peaks
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Listing provided by Revere CRE