Burger King NNN Property For Sale — Norwalk, OH
340 Milan Ave, Norwalk, OH 44857
This offering presents an exceptional opportunity to acquire a single-tenant absolute NNN Burger King property, featuring a brand new 15-year lease at closing with attractive 10% rent increases every five years. The franchisee has a long-standing operating history dating back to 1959. The property underwent a comprehensive renovation in August 2015, enhancing its storefront with updated finishes and modern branding. Strategically located within Norwalk’s primary commercial corridor, it benefits from a robust daytime population due to an adjacent industrial park. The competitive sale-leaseback rental rate is supported by strong historical sales, maintaining an 8.5% rent-to-sales ratio over the past three years.
- Address: 340 Milan Ave, Norwalk, OH 44857
- Asking price $2.77M
- 6.10% cap rate
- NOI $168,826
- 15 years remaining
- NNN lease
- Year built: 1979
- Building size: 3,031 SF
- Lot size: 0.90 acres
- Rent increases: 10% every 5 years
- Guarantor: Corporate
Location
This Burger King property is at 340 Milan Ave in Norwalk, Ohio.
Asset type: Fast Food