1034 State Route 37 Delaware, OH 43015
- Retail properties
- 2,993 SF
- 1.14 lot acres
Current Use by Public Records
- Burger King / Restaurant / Fast Food Restaurant
Property Details for 1034 State Route 37
- Year built
- 2019
- Lot size
- 1.14 lot acres
- Property size
- 2,993 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple, 2,993 square foot Burger King restaurant located at 1034 State Route 37 West in Delaware, Ohio. The property boasts a 20-year triple-net (NNN) lease with 15.1 years remaining, providing significant long-term stability. The current annual net operating income (NOI) is $136,424, yielding a 6.15% cap rate. The lease includes 1% annual rent increases commencing in 2029. The tenant, Carrols Restaurant Group, a subsidiary of Restaurant Brands International (the parent company of Burger King), ensures a strong and reliable tenant profile. Situated on a 1.14-acre lot, this strategically located property benefits from high visibility and traffic counts, with US Route 23 (36,650 vehicles per day) and US Route 36 (20,370 vehicles per day) intersecting nearby. The property's prime location is further enhanced by a strong demographic profile, with over 106,780 people residing within a ten-mile radius. Built in 2019, this well-maintained property offers a compelling investment opportunity with substantial long-term growth potential. The asking price is $2,218,276, representing a price per square foot of $741.15. This is a single-tenant, fee-simple ownership with no landlord responsibilities.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Delaware
- County
- Delaware
- State
- Ohio
- Longitude
- -83.0969
- Latitude
- 40.3075
