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Burger King 1351 S Dirksen Pky 2,811 SF Retail Building Springfield, IL 62703 $3,669,121 CAD ($1,305.27 CAD/SF) 5.50% Cap Rate
Investment Highlights
- Irreplaceable Location | Property is located on a signalized hard corner which sees over 34,000 VPD and is the only pad to a 175,000 SF JCPenny which
- Property Equipped with Double Drive-Thru | Property open 19.5 hours per day
- Absolute NNN Lease | Zero landlord responsibilities
- Proximate to Freeways | Burger King is Ideally located across the street from the entrance to Interstate 55 and Route 29 which sees a combined 70,000
- Fee Simple Ownership (Land and Building) | Depreciable asset
- Longstanding Commitment to Location | Tenant signed a brand new 20-year lease in 2019 with Six 5-year options
Executive Summary
CBRE is pleased to present a Burger King for sale located at 1201 S Dirksen Pkwy in Springfield, IL . The property includes a 2,811 SF building on an oversized 1.41 ACRE lot with a double drive-thru and benefits from being situated on a signalized hard corner (S Dirksen Pkwy and S Grand Ave E), which sees over 34,000 VPD. The tenant signed a brand new 20-year Lease in 2019, and there are currently 14+ years remaining on the lease with Six 5-Year Options, showing a longstanding commitment to this location and market. The property is surrounded by notable retailers such as JCPenney, AutoZone, Caliber Collision, and many more.
The tenant operates under an Absolute NNN Lease with zero Landlord responsibilities whatsoever. The Lease is guaranteed by Carrols LLC. Carrols was acquired by Burger King‘s parent company, Restaurant Brands International (RBI), in 2024. Restaurant Brands International is one of the world’s largest quick-service restaurant companies with approximately $23 billion in system sales and over 18,000 restaurants in 100 countries. Restaurant Brands International owns two of the world’s most prominent and iconic quick service restaurant brands – Tim Hortons® and Burger King®. These independently operated brands have been serving their respective guests, franchisees, and communities for over 50 years.
The tenant operates under an Absolute NNN Lease with zero Landlord responsibilities whatsoever. The Lease is guaranteed by Carrols LLC. Carrols was acquired by Burger King‘s parent company, Restaurant Brands International (RBI), in 2024. Restaurant Brands International is one of the world’s largest quick-service restaurant companies with approximately $23 billion in system sales and over 18,000 restaurants in 100 countries. Restaurant Brands International owns two of the world’s most prominent and iconic quick service restaurant brands – Tim Hortons® and Burger King®. These independently operated brands have been serving their respective guests, franchisees, and communities for over 50 years.
Property Facts
Sale Type
Investment NNN
Sale Condition
Lease Option
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,811 SF
Building Class
B
Year Built
2019
Price
$3,669,121 CAD
Price Per SF
$1,305.27 CAD
Cap Rate
5.50%
NOI
$201,802 CAD
Tenancy
Single
Building Height
1 Story
Lot Size
21.86 AC
Opportunity Zone
Yes
Zoning
C - Commercial
Parking
24 Spaces (8.54 Spaces per 1,000 SF Leased)
Frontage
80’ on South Dirksen Parkway
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- -
- $71.76 CAD
- Triple Net
- Jul 2039
Burger King is known for serving high-quality, great-tasting, and affordable food. Founded in 1954, Burger King is the second largest fast food hamburger chain in the world. The original Home of the Whopper, their commitment to premium ingredients, signature recipes, and family-friendly dining experiences is what has defined their brand for many successful years.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | - | $71.76 CAD | Triple Net | Jul 2039 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 14-36.0-351-038 | Improvements Assessment | $30,727 CAD |
| Land Assessment | $244,870 CAD | Total Assessment | $275,597 CAD |
Property Taxes
Parcel Number
14-36.0-351-038
Land Assessment
$244,870 CAD
Improvements Assessment
$30,727 CAD
Total Assessment
$275,597 CAD
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Burger King | 1351 S Dirksen Pky
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