Building Details

Tenancy Single

Listing Agency: SRS Real Estate Partners Newport Beach p***@srsre.com Show Phone

Listed By: Matthew Mousavi · License #CA 01732226

Source: Crexi

Added: Jul 21 Changed: Aug 31 Last Checked: Sep 1 at 1:01AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners Newport Beach

Investment Insights

Based on property information with market context.

This freestanding Burger King includes drive-through service and is being offered with a new 15-year lease to be executed at closing through a sale-leaseback structure. The agreement provides 10% rent increases every 5 years during the initial term and at the start of each option period. The lease is absolute NNN, and the franchisee guarantee comes from Magic Burgers, LLC, a 92 Unit Operator.

The property occupies an outparcel within a Walmart Supercenter-anchored center on N. Wickham Road in Melbourne. It is near the Interstate 95 on/off ramp, with access and visibility supported by 31,966 VPD on N. Wickham Road and 55,000 VPD on Interstate 95. A Super Target is located across the street, while Dollar Tree, Ross Dress for Less, Petco, and Hobby Lobby are among the other center tenants. The surrounding 5-mile trade area includes 62,000 residents and an average household income exceeding $92,000.

Key Highlights

• New 15‑year lease scheduled at closing through a sale‑leaseback arrangement
• Absolute NNN lease with 10% increases every 5 years and at option commencement
• Franchisee guarantee from Magic Burgers, LLC, a 92 Unit Operator

Property Analytics

Property Profile

Current Use

Burger King Restaurant

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store HVAC Service Storage Facility Garden Center Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

31,966 VPD

Traffic count

Single-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

855

Businesses Nearby

608k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Superstores 38% Dining 33% Shops & Services 21% Apparel 6%

Walmart Superstores

125,615 visits/mo 0.3 miles

Target Superstores

102,938 visits/mo 0.2 miles

Chick-fil-A Dining

53,822 visits/mo 0.3 miles

Hobby Lobby Shops & Services

43,606 visits/mo 0.2 miles

McDonald's Dining

33,639 visits/mo 0.3 miles

Demographics for 32940, FL

44,869

Population

21,433

Households

2.1

Avg Household Size

51

Median Age

52%

College-Educated

97%

High-School Grad

57.3 sq mi

ZIP Area

783

Density / Sq Mi

$106,511

Median Household Income

$56,072

Median Earnings

$1,904

Median Rent

$444,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

NNN property - Freestanding quick-service restaurant with drive-through service and a newly structured long-term absolute NNN lease.

Where is this nnn property located?

The property is located at 7299 George T Edwards Drive Melbourne, FL.

What are key features of this property?

This property features: New 15‑year lease scheduled at closing through a sale‑leaseback arrangement; Absolute NNN lease with 10% increases every 5 years and at option commencement; Franchisee guarantee from Magic Burgers, LLC, a 92 Unit Operator