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Burger King | New 15-Yr NNN | Mishawaka, IN 2801 Lincolnway E 3,780 SF Retail Building Mishawaka, IN 46544 $3,025,877 CAD ($800.50 CAD/SF) 5.80% Cap Rate
Investment Highlights
- New 15-Year NNN Lease with Zero Landlord Responsibilities
- Scheduled 10% Rent Increases Every Five Years
- ±1.50-Acre Site Remodeled in 2019 w/ Drive-Thru
- Four (4) Five-Year Renewal Options, Up to 35 Years of Total Occupancy
- Guaranteed by Crown Hospitality Partners, Inc. (36-Unit Burger King Franchisee)
- Lincolnway East/SR 933 (±19,504 VPD) and Capital Avenue (±24,443 VPD)
Executive Summary
Marcus & Millichap is pleased to present a freestanding Burger King with drive-thru located at 2801 Lincolnway East in Mishawaka, Indiana. The ±3,780-square-foot restaurant, remodeled in 2019, sits on ±1.50 acres and is secured by a new 15-year NNN lease with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $125,798 produces a 5.80% 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/SR 933 (±19,504 VPD) near Capital Avenue (±24,443 VPD), connecting Mishawaka, South Bend, and the Indiana Toll Road, with corridor neighbors including Taco Bell, Wendy's, Dunkin', and Dollar General. The 5-mile trade area holds 104,530 residents with an average household income of $93,441, supported by the University of Notre Dame (13,129 students) and Bethel University (1,134 students). The South Bend-Mishawaka MSA supports 326,282 residents with $1 billion in active downtown development. 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/SR 933 (±19,504 VPD) near Capital Avenue (±24,443 VPD), connecting Mishawaka, South Bend, and the Indiana Toll Road, with corridor neighbors including Taco Bell, Wendy's, Dunkin', and Dollar General. The 5-mile trade area holds 104,530 residents with an average household income of $93,441, supported by the University of Notre Dame (13,129 students) and Bethel University (1,134 students). The South Bend-Mishawaka MSA supports 326,282 residents with $1 billion in active downtown development. 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
3,780 SF
Building Class
C
Year Built
1986
Price
$3,025,877 CAD
Price Per SF
$800.50 CAD
Cap Rate
5.80%
NOI
$175,501 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.50 AC
Parking
60 Spaces (15.87 Spaces per 1,000 SF Leased)
Frontage
142’ on Lincoln Way
Amenities
- Pylon Sign
- Signage
- Drive Thru
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 71-09-13-154-001.000-023 | Improvements Assessment | $321,541 CAD |
| Land Assessment | $213,800 CAD | Total Assessment | $535,341 CAD |
Property Taxes
Parcel Number
71-09-13-154-001.000-023
Land Assessment
$213,800 CAD
Improvements Assessment
$321,541 CAD
Total Assessment
$535,341 CAD
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Burger King | New 15-Yr NNN | Mishawaka, IN | 2801 Lincolnway E
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