1162 Boone St Ext Kingsland, GA 31548
- Retail properties
- 3,218 SF
- 1.60 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1162 Boone St Ext
- Year built
- 1996
- Lot size
- 1.60 lot acres
- Property size
- 3,218 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple ownership of a Burger King restaurant located at 1162 Boone St Ext, Kingsland, GA 31548. The property boasts a 3,218 square foot building situated on a 1.6-acre lot. Built in 1996 and renovated in 2011, this single-tenant, net-lease property offers a secure investment with a franchisee tenant. The current lease, commencing October 30, 2018, and expiring October 31, 2038, has a remaining term of 14 years, with four 5-year renewal options. The annual net operating income (NOI) is $171,437, resulting in a 6.35% cap rate. The lease is a triple-net (NNN) agreement, meaning the tenant is responsible for all operating expenses, providing the landlord with minimal responsibilities. Rent increases of 5% every 5 years are built into the lease structure, ensuring consistent income growth. The asking price is $2,699,790, translating to $838.97 per square foot. This property offers a compelling combination of a strong tenant, long-term lease, and attractive financial metrics, making it an ideal addition to any investment portfolio. 100% occupancy ensures immediate cash flow.
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
- Kingsland
- County
- Camden
- State
- Georgia
- Longitude
- -81.6538
- Latitude
- 30.7882
