Burger King (Corporate) St. Augustine, Florida

OFFERED  BY:    

RYAN  D.  O’CONNELL    

P.  602.595.4000  Ryan@RDOinvestments.com  

           

 

RDO I N V E S T M E N T S

Office 602.595.4000 Fax 602.467.3218 ・ 3219 East Camelback Road ・ Phoenix, Arizona 85018 ・ www.RDOinvestments.com

Listed  in  conjunction  with  Florida  Broker    Don  Bernadine  

Keystone  Realty  and  Investments  License  No.  BK3004872

 

The  information  contained  in  the  following  Marketing  Brochure  is  proprietary  and  strictly  confidential.  It  is  intended  to  be  reviewed  only  by  the  party  receiving  it  from  RDO  Investments,  LLC  and  should  not  be  made  available  to  any  other  person  or   entity  without   the  written   consent  of  RDO   Investments,   LLC.  This  Marketing  Brochure  has  been  prepared  to  provide  summary,  unverified  information  to  prospective  purchasers,  and  to  establish  only  a  preliminary  level  of   interest   in   the   subject  property.  The   information   contained  herein   is   not   a   substitute   for   a   thorough  due  diligence   investigation.   RDO   Investments,   LLC   has   not   made   any   investigation,   and   makes   no   warranty   or  representation,   with   respect   to   the   income   or   expenses   for   the   subject   property,   the   future   projected   financial  performance   of   the   property,   the   size   and   square   footage   of   the   property   and   improvements,   the   presence   or  absence  of  contaminating  substances,  PCB's  or  asbestos,   the  compliance  with  State  and  Federal   regulations,   the  physical  condition  of  the  improvements  thereon,  or  the  financial  condition  or  business  prospects  of  any  tenant,  or  any  tenant’s  plans  or  intentions  to  continue  its  occupancy  of  the  subject  property.  The  information  contained  in  this  Marketing  Brochure  has  been  obtained  from  sources  we  believe  to  be  reliable;  however,  RDO  Investments,  LLC  has  not  verified,  and  will  not  verify,  any  of  the  information  contained  herein,  nor  has  RDO  Investments,  LLC  conducted  any   investigation   regarding   these   matters   and   makes   no   warranty   or   representation   whatsoever   regarding   the  accuracy   or   completeness   of   the   information   provided.  All   potential   buyers  must   take   appropriate  measures   to  verify  all  of  the  information  set  forth  herein.      All  properties  visits  are  by  appointment  only.      

RDO I N V E S T M E N T S

SITE:    Burger  King    GUARANTOR:    Burger  King  Corporation  (NYSE:    QSR)    LOCATION:    304  Paseo  Vereda  Drive  

   St  Augustine,  FL  32095    PROPERTY  TYPE:  Quick  Service  Restaurant    TYPE  OF  OWNERSHIP:  Fee  Simple  GROUND  LEASE    LEASE  TYPE:    Absolute  Net  Ground  Lease      LIST  PRICE:    $1,535,000    CAP  RATE:    4.50%    BASE  RENT:      

   Present  –  12/21/30:  $69,000.            12/22/30  –  12/21/35:  $72,500.  (Option  1)      12/22/35  –  12/21/40:  $79,860.  (Option  2)      12/22/40  –  12/21/45:  $87,846.  (Option  3)      12/22/45  –  12/21/50:  $96,631.  (Option  4)      12/22/50  –  12/21/55:  $106,294.  (Option  5)      12/22/55  –  12/21/60:  $116,923.  (Option  6)  

   OPTIONS:    Six  (6)  five  (5)  year  options  

   SQUARE  FOOTAGE:  2,540  SF    LAND  AREA:    1.13  Acres    RENT  COMMENCEMENT:  May  13,  2008    LEASE  EXPIRATION:  December  21,  2030    YEAR  BUILT:    2008    RIGHT  OF  FIRST  REFUSAL:  None        

PROPERTY SUMMARY RDO I N V E S T M E N T S

______________________________________________ RDOinvestments.COM

PROPERTY  OVERVIEW:        RDO   Investments   is   pleased   to   present   a   single   tenant,   2,540   square   foot,   fee   simple  Ground   Lease,   to   a  Corporate   Burger   King   location   in   the   highly   desirable   area   of   St.   Augustine,   Florida.     The   property   is  strategically   located   along   Dixie   Highway   (Highway   1)   at   the   entrance   to   Palencia  Village,   one   of   Florida  largest  Master  Planned  Communities.  The  property  has  excellent  visibility  from  Dixie  Highway  with  over  25,000  cars   per   day   as   well   as   cross   easement   accessibility   from   Mercado   Walk.   The   property   was   originally  constructed  in  2008  with  tenant  doing  an  early  long  term  lease  extension  in  2017.        The   property   is   located   next   to  Mercado  Walk   a   20,000   square   foot  mulC   tenant   retail   center   anchored   by  Starbucks.      The  tenant  signed  an  original  10  year  lease  which  began  in  July  2008  which  was  recently  amended  to  include  an  addiConal  13  years  with  a  primary  term  expiraCon  in  December  2030.      Following  the  remaining  primary  lease  term,  the  tenant  has  Six,  5-­‐year  opCons  with  a  5%  increase  in  opCon  one  and  10%  Increases  in  the  remaining.      

PROPERTY SUMMARY Burger King – St. Augustine, FL RDO

I N V E S T M E N T S

   

LOCATION  OVERVIEW:      Founded  in  1565,  St.  AugusCne  is  the  oldest  conCnuously  occupied  European  established  city,  and  the  oldest  port,  in  the  conCnental  United  States.  St.  AugusCne  lies  in  a  region  of  Florida  known  as  The  First  Coast,  which  extends   from  Amelia   Island   in   the  north,   south   to   Jacksonville,   St.   AugusCne   and  Palm  Coast.   Located   in   St.  Johns   County,   the   city   has   more   than   50   aUracCons,   historic   sites   and   points   of   interest   and   is   also   the  headquarters  for  the  Florida  NaConal  Guard.      St.  Johns  County  is  located  along  the  AtlanCc  Ocean  in  northeast  Florida.  The  City  of  St.  AugusCne,  the  county  seat,   draws   6.5  million   visitors   annually.     The   City   of   St.   AugusCne  maintains   architectural   control   over   the  colonial  city,  insuring  that  the  inevitable  change  which  occurs  in  a  living  urban  area  respects  the  past.      Although   primarily   thought   of   as   a   vacaCon   desCnaCon   with   the   area’s   historic   aUracCons,   beaches,   and  sporCng  venues,  St.  Johns  County  is  fast  becoming  known  as  a  premier  locaCon  for  business  development.  Due  to   the   inclusion   of   Ponte   Vedra   Beach,   it   is   one   of   the   highest   income   counCes   in   the  United   States.   Ponte  Vedra  Beach  is  home  to  the  worldwide  headquarters  for  golf  and  for  men’s  tennis  –  the  PGA  Tour  and  the  ATP  Tour.    Based  upon  the  2010  Census,  the  national  demographics  consulting  firm  Claritas  has  estimated  that  for  2017  there   are   approximately   15,443   residents   and   5,689   households   with   a   five-­‐mile   radius   of   the   Property.    According  to  Claritas,  the  average  household  income  with  a  one-­‐mile  radius  of  the  Property  was  estimated  to  be  $125,534.            

______________________________________________ RDOinvestments.COM

 Restaurant   Brands   Interna-onal   (NYSE:   QSR)   Restaurant   Brands   InternaConal   Inc.   is   one   of   the  world's  largest  quick  service  restaurant  companies  with  more  than  $27  billion  in  system  sales  and  over  23,000   restaurants   in  more   than  100  countries  and  U.S.   territories.  Restaurant  Brands   InternaConal  owns  two  of  the  world's  most  prominent  and  iconic  quick  service  restaurant  brands  –  TIM  HORTONS®,  BURGER   KING®   and   POPEYES®.   These   independently   operated   brands   have   been   serving   their  respecCve  guests,  franchisees  and  communiCes  for  over  50  years.    Every  day,  more  than  11  million  guests  visit  BURGER  KING®  restaurants  around  the  world.  And  they  do  so   because   the   restaurants   are   known   for   serving   high-­‐quality,   great-­‐tasCng,   and   affordable   food.  Founded   in  1954,   the  BURGER  KING®  brand   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   the   brand   for   more   than   50  successful  years.      The   company   is   majority-­‐owned   by   the   Brazilian   investment   company   3G   Capital—the   previous  majority  owner  of  Burger  King—holding  a  51%  stake.  The  remainder  of  the  company  is  publicly  traded  on  the  New  York  and  Toronto  Stock  Exchanges,  and  owned  by  the  prior  shareholders  of  Burger  King  and  Tim  Hortons.  The  deal  was  approved  by  Tim  Hortons'  shareholders  on  December  9,  2014,  and  the  company  began  trading  on  December  15,  2014.      This  loca-on  is  a  Corporate  Burger  King  loca-on.            

TENANT OVERVIEW Burger King – St. Augustine, FL RDO

I N V E S T M E N T S

______________________________________________ RDOinvestments.COM

PHOTOS Burger King – St. Augustine, FL RDO

I N V E S T M E N T S

FILE  PHOTO  

Actual  LocaCon  

Actual  LocaCon  

AERIAL Burger King – St. Augustine, FL RDO

I N V E S T M E N T S

FILE  PHOTO  

FILE  PHOTO  

InternaConal  Golf  Parkway  

Coming  2018  

KENSINGTON  MASTER  PLANNED  COMMUNITY  

 

PALENCIA  MASTER  PLANNED  COMMUNITY  

 

RDO I N V E S T M E N T S

AERIAL Burger King – St. Augustine, FL

InternaConal  Golf  Parkway  

PALENCIA  MASTER  PLANNED  COMMUNITY  

 

Coming  2018  

ST.  AUGUSTINE    AIRPORT  

ST.  AUGUSTINE    

ATLANTIC  OCEAN  

RDO I N V E S T M E N T S

AERIAL Burger King – St. Augustine, FL

Subject  Property  Subject  Property  

Future                        Development  

Mercado  Walk  Shopping  Center  

SITE PLAN Burger King – St. Augustine, FL RDO

I N V E S T M E N T S

______________________________________________ RDOinvestments.COM

Vina  Nail  &  Spa  

Palencia Dry Cleaners

LOCATION MAP Burger King – St. Augustine, FL RDO

I N V E S T M E N T S

DEMOGRAPHICS Burger King – St. Augustine, FL RDO

I N V E S T M E N T S

______________________________________________ RDOinvestments.COM

Descrip-on   1  Mile  Radius   3  Mile  Radius   5  Mile  Radius  Total   Total   Total  %   %   %  

DEMOGRAPHICS Burger King – St. Augustine, FL RDO

I N V E S T M E N T S

______________________________________________ RDOinvestments.COM

Descrip-on   1  Mile  Radius   3  Mile  Radius   5  Mile  Radius  Total   Total   Total  %   %   %  

CONTACT Burger King – St. Augustine, FL

______________________________________________ RDOinvestments.COM

Ryan D. O’Connell RDO Investments

3219 East Camelback Road Phoenix, Arizona 85018

P. 602-595-4000 F. 602-467-3218 M. 602-790-9036

E. Ryan@RDOinvestments.com

 

RDO I N V E S T M E N T S