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Burger King | New 15-Yr NNN 4626 Red Arrow Hwy 3,942 SF Retail Building Stevensville, MI 49127 $3,331,593 CAD ($845.15 CAD/SF) 5.85% Cap Rate
Investment Highlights
- New 15-Year NNN Lease with Zero Landlord Responsibilities
- Scheduled 10% Rent Increases Every Five Years
- Recently Remodeled in 2022 on ±1.30 Acres 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)
- Red Arrow Highway (±15,450 VPD) Near Interstate 94 (±41,432 VPD) at Exit 23
Executive Summary
Marcus & Millichap is pleased to present a freestanding Burger King with drive-thru at 4626 Red Arrow Highway in Stevensville, Michigan, along the Lake Michigan shoreline in Berrien County. The ±3,942-square-foot restaurant, remodeled in 2022, sits on ±1.30 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 $140,477 produces a 5.85% cap rate, with 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 with seven decades of combined system experience.
The property is positioned along Red Arrow Highway (±15,450 VPD) near Interstate 94 (±41,432 VPD) at Exit 23, serving commuter and visitor traffic between southwest Michigan and the Chicago metro area. Corridor neighbors include Meijer, Tractor Supply, ALDI, Culver's, and Taco Bell. The 3-mile trade area holds 19,383 residents with an average household income of $134,262, supported by Corewell Health St. Joseph Hospital (290+ beds) and Lakeshore High School (800+ students). Major area employers include Whirlpool Corporation and Cook Nuclear Plant. 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 Red Arrow Highway (±15,450 VPD) near Interstate 94 (±41,432 VPD) at Exit 23, serving commuter and visitor traffic between southwest Michigan and the Chicago metro area. Corridor neighbors include Meijer, Tractor Supply, ALDI, Culver's, and Taco Bell. The 3-mile trade area holds 19,383 residents with an average household income of $134,262, supported by Corewell Health St. Joseph Hospital (290+ beds) and Lakeshore High School (800+ students). Major area employers include Whirlpool Corporation and Cook Nuclear Plant. 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
3,942 SF
Building Class
C
Year Built
1986
Price
$3,331,593 CAD
Price Per SF
$845.15 CAD
Cap Rate
5.85%
NOI
$194,898 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.30 AC
Zoning
HC
Parking
45 Spaces (11.42 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 11-12-0016-0047-04-4 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $637,931 CAD |
Property Taxes
Parcel Number
11-12-0016-0047-04-4
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$637,931 CAD
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Burger King | New 15-Yr NNN | 4626 Red Arrow Hwy
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