7843 Brewerton Rd, Cicero, NY 13039-9534

Property Details for 7843 Brewerton Rd

Lot size

0.46 lot acres

Property type

Parking lots & garages

APN

312289 036.-01-26.1

APU

31228903601261

Description

This exceptional investment opportunity presents a fee-simple, absolute NNN leased Burger King property located at 7843 Brewerton Rd, Cicero, NY 13039. The property, built in 1986 and renovated in 2015, sits on a 1.01-acre lot and encompasses 3,601 square feet. A new 15.9-year lease commenced July 1st, 2024, and expires May 31st, 2040, with a remaining term of 15.5 years. The current annual rent is $100,000, with a 10% rent increase every five years. The lease is backed by a corporate guarantee from Carrols Corp, recently acquired by Restaurant Brands International (RBI), ensuring financial stability. The property boasts a 5.00% cap rate and a price per square foot of $555.40, totaling an asking price of $2,000,000. The property's strategic location, just off Interstates 481 and 81, at a traffic light regulated intersection with a bus stop, and across from a Lowe's and Price Chopper anchored shopping center, ensures high visibility and accessibility. The property is 100% occupied and offers four five-year lease options. This is a prime opportunity for 1031 exchange investors seeking a stable, high-yielding investment with significant long-term potential. The building's value is depreciable for tax purposes.

Location Insight

City

Cicero

County

Onondaga

State

New York

Longitude

-76.1261

Latitude

43.1492

CBSA code

45060

CBSA name

SYRACUSE, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments