4360 National Rd Richmond, IN 47374

Property Details for 4360 National Rd

Lot size

0.82 lot acres

Property size

2,180 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a 2,180 square foot Burger King property located at 4360 National Rd E, Richmond, IN 47374. The property boasts a brand new 15-year absolute NNN lease with a corporate guarantee from Burger King, ensuring minimal landlord responsibilities. The lease commenced September 20, 1984, and expires September 20, 2039, leaving a substantial 14.8 years remaining. Rent increases are built in, with a 10% bump every five years during the initial term and in the three, five-year renewal options. The property sits on a 0.816-acre lot and generates a strong net operating income (NOI) of $130,000, resulting in a 5.50% cap rate. The asking price is $2,363,000. This prime location benefits from high visibility along a busy retail corridor, experiencing 18,262 vehicles per day on E Main Street and over 39,000 vehicles daily on nearby Highway 70. The property enjoys excellent proximity to a major shopping center encompassing 392,572 square feet, anchored by Dillard's and Dunham Sports, and is also conveniently located near a Walmart Supercenter. A multitude of other national and local retailers surround the property, including Subway, Goodwill, Applebee's, Hobby Lobby, Buffalo Wild Wings, Olive Garden, Chili's, Kohl's, Starbucks, Planet Fitness, Menards, Big Lots, and Kroger, creating a thriving commercial environment. This is a rare opportunity to acquire a well-established, high-performing Burger King location with a long-term lease and significant upside potential.