December 3, 2020 – Chris King and Kyle Danielson of Horvath & Tremblay have successfully completed the sale of Burger King in Pensacola, Florida. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $1,680,000, a Cap Rate of 5.06 percent.
The Burger King is located at 1750 E Nine Mile Road in Pensacola, FL. The stand-alone building consists of 2,756 square feet and sits on 0.88 acres of land. Constructed in 2019, the building represents Burger King’s new “BKOT” prototype with a higher roof line, larger windows, indoor self-order kiosks, and outdoor digital menus. Burger King has 17+ years remaining on a their Absolute NNN Ground Lease and an additional four, 5-Year renewal options. The lease features 8% increases every five years throughout the current term and the renewal options. Burger King enjoys outstanding frontage and visibility along E Nine Mile Road, the area’s primary retail corridor. The property is strategically located just 1-mile from the University of West Florida which features a 1,600-acre campus and has an enrollment of more than 12,900 students. Additionally, the property is 1.5-miles from West Florida Hospital, a 515-bed short term acute care facility.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.