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Burger King | New 16-Yr NNN | Goshen, IN 1911 Lincolnway E 3,910 SF Retail Building Goshen, IN 46526 $3,726,195 CAD ($952.99 CAD/SF) 5.90% Cap Rate
Investment Highlights
- New 16-Year NNN Lease with Zero Landlord Responsibilities
- Scheduled 10% Rent Increases Every Five Years
- Recently Remodeled in 2022 on ±1.28 Acres w/ Drive-Thru
- Four (4) Five-Year Renewal Options, Up to 36 Years of Total Occupancy
- Guaranteed by Crown Hospitality Partners, Inc. (36-Unit Burger King Franchisee)
- Lincolnway East/U.S. 33 (±17,720 VPD) Commercial Corridor
Executive Summary
Marcus & Millichap is pleased to present a freestanding Burger King with drive-thru located at 1911 Lincolnway East in Goshen, Indiana, within the Elkhart-Goshen MSA. The ±3,910-square-foot restaurant, remodeled in 2022, sits on ±1.28 acres and is secured by a new 16-year NNN lease with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $156,915 produces a 5.90% cap rate, with scheduled 10% rent increases every five years providing built-in income growth. The lease is guaranteed by Crown Hospitality Partners, Inc., an experienced 36-unit Burger King franchisee led by career operators with seven decades of combined system experience.
The property is positioned along Lincolnway East/U.S. 33 (±17,720 VPD), a primary commercial corridor serving Goshen, with neighbors including Menards, Walmart, ALDI, Walgreens, and Dunkin'. The 5-mile trade area holds 44,074 residents with an average household income of $94,866, supported by Goshen College (847 students), Goshen Hospital, and Goshen High School (1,717 students). The Elkhart-Goshen MSA supports 208,702 residents and is anchored by major RV manufacturers including THOR Industries, Forest River, and Lippert. Burger King operates 19,000+ locations in 120+ countries as a flagship brand of Restaurant Brands International (NYSE: QSR), pairing global brand strength with passive net-lease income.
The property is positioned along Lincolnway East/U.S. 33 (±17,720 VPD), a primary commercial corridor serving Goshen, with neighbors including Menards, Walmart, ALDI, Walgreens, and Dunkin'. The 5-mile trade area holds 44,074 residents with an average household income of $94,866, supported by Goshen College (847 students), Goshen Hospital, and Goshen High School (1,717 students). The Elkhart-Goshen MSA supports 208,702 residents and is anchored by major RV manufacturers including THOR Industries, Forest River, and Lippert. Burger King operates 19,000+ locations in 120+ countries as a flagship brand of Restaurant Brands International (NYSE: QSR), pairing global brand strength with passive net-lease income.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,910 SF
Building Class
C
Year Built
1992
Price
$3,726,195 CAD
Price Per SF
$952.99 CAD
Cap Rate
5.90%
NOI
$219,846 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.40 AC
Opportunity Zone
Yes
Zoning
ZO01
Parking
75 Spaces (19.18 Spaces per 1,000 SF Leased)
Frontage
148’ on lincoln Way
Amenities
- Pylon Sign
- Signage
- Drive Thru
Fairly walkable
40/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 20-11-23-251-017.000-015 | Improvements Assessment | $1,207,959 CAD |
| Land Assessment | $364,343 CAD | Total Assessment | $1,572,302 CAD |
Property Taxes
Parcel Number
20-11-23-251-017.000-015
Land Assessment
$364,343 CAD
Improvements Assessment
$1,207,959 CAD
Total Assessment
$1,572,302 CAD
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Burger King | New 16-Yr NNN | Goshen, IN | 1911 Lincolnway E
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