1005 Bill Tuck Highway, South Boston, VA Building Size : ± 3,472 SF
$1,680,000 ($483/SF) | 6.75% cap rate
Executive Summary
The Ivy Group is pleased to have represented the buyer in this purchase of a quick service restaurant located 1005 Bill Truck Highway in South Boston, VA. The property is occupied by Burger King, one of the world’s most recognized consumer brand with a strong track record of proven operational expertise.
The subject property consists of roughly 3,472 square feet of building space on approximately a 1.09-acre parcel. This investment opportunity is subject to a 20-year Triple-Net (NNN) lease, which has 13 years remaining. The annual rent is $111,307 and is scheduled to increase by two percent (2.00%) annually continuing throughout the base term and four, five-year tenant option periods.
About the Investment
Long-Term Lease | 12.5 Years Remaining on an Original 20-Year Lease
Triple Net (NNN) Lease with Zero Landlord Responsibilities
Carrols Restaurant Group, one of the Largest Restaurant Companies and Franchisee’s in the United States
Attractive Rental Increases of 2.00% Annually
Four (4) Tenant Renewal Periods of Five (5) Years Each
PROPERTY HIGHLIGHTS
Building Size± 3,472 SF
Lot Size± 1.09 Acres
Year Built1992
UseQuick Service Restaurant
APNParcels 11163 and 17115
Location
About the Location
Dollar General Distribution Center | Less Than Four Miles Away | 480+ Employees
Immediate Access to Healthcare | Sentara Halifax Regional Hospital | 192-Bed State-of-the-Art Facility | Less than Three Miles Away
Retail Corridor | Food Lion, McDonald’s, Taco Bell, Subway, Hardee’s, Dominos and Many More
Strategically Positioned on a Hard Corner of a Signalized Intersection
High Academic Presence | Two Schools Within a Six-Mile Radius | Total Enrollment Exceeds 2,050 Students
