Lead Agents
Corning, CA
Recently Closed: Burger King
Price:
$2,453,000
Cap Rate:
5.30%
NOI:
$129,984
Built:
2023
Building Size (SF):
2023
Lot Size (Acres):
0.91 AC
The lease features a primary term expiring in 2041, providing long-term stability for the investor. Additionally, the lease includes a 10% rental increase every five years. In 2023, the property was remodeled to feature one of Burger King’s latest prototype designs. Operating under an absolute NNN lease, the landlord benefits from a passive investment. Corning, CA, is home to Bell-Carter Foods, Inc., the world’s second-largest table olive processor and the largest in the United States. The city also plays a key role in the production of almonds, walnuts, and prunes for Sunsweet Growers Inc. The property is leased by Quikserve Restaurants, Inc., a prominent Burger King franchisee.
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