Offering Memorandum
Highlights
- New 20-Year Absolute Triple-Net (NNN) Ground Lease with 3 x 10-Year Options and Scheduled Rent Increases
- New Construction Double Drive-Thru Whataburger Opening in November 2023
- Personal and Franchisee Guaranty from Burgerworks Colorado, LLC - Operator of 16 Whataburger Locations Throughout Colorado and Texas
- Signalized Hard Corner Location at the Intersection of Fillmore & El Paso - 36,000+ VPD
- 1.8 Miles from University of Colorado at Colorado Springs - 12,400 Students
- 230,000+ Population within a 5-Mile Radius of the Subject Property, 3,812 Multi-Family Units Under Construction within a 5-Mile Radius - 877 Multi-Family Units Under Construction within a 3-Mile Radius
- Price: $2,990,000
- Lot Size: 1.27
- Cap Rate: 4.85%
- Lease Type: Absolute Triple Net (NNN) Ground Lease
- Year Built: 2023
- Building SF: 3,7744 SF
- Status: Active
- Guarantor: Burgerworks Colorado, LLC