Burger King

The subject property is a single tenant Burger King restaurant in Memphis, Tennessee. Our original tenant, Mirable Investment Corp. along with lease guarantor Tennessee Quality, LLC were acquired by Carrols Corp. - the nation’s largest Burger King operator. In May of 2024 Carrols was acquired by Restaurant Brands International, Inc - one of the world's largest quick service restaurant companies with $40 billion in annual sales and the parent of Burger King restaurants. The property consists of a ± 2,267 sf, freestanding quick service retail building with drive through window, on ± 0.65 acres at the corner of Park Avenue and Loeb Street / Getwell Street. Burger King is strategically located across the street from the University of Memphis Park Avenue Campus and a few blocks south of the University of Memphis main campus (21,700 students). Both Park Ave. and Getwell St. are busy commercial arteries. Traffic generators sharing this intersection include Save A Lot Supermarket, Checker’s QSR, dd’s Discounts, Dollar Tree, CSL Plasma, Bank of America, Cricket Wireless, T-Mobile and The Bottle Shoppe. A few blocks away is Audubon Park which includes Memphis Botanic Garden, Radians Amphitheater and The Links at Audubon Park. The surrounding area consists of residential neighborhoods and commercial uses serving the university and community. The Oak Court Mall (Dillard’s, Macy’s, H&M), Target, Sprouts Grocery are less than a mile away. Burger King’s absolute net lease commenced in September 2017 with a twenty year primary term running through September 2037, followed by two, 5 year renewal options. Rent increases by ten percent every five years, with the next rent increase occurring in September 2027. Tennessee has no state income tax. Burger King - Memphis is the ideal property for a passive investor seeking a national brand run by the largest operator in the country.