Burger King | New 15-Yr NNN | 36-Unit Guaranty | 2022… — Sale in Dowagiac, MI

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Dowagiac, MI 49047

Photos

Burger King | New 15-Yr NNN | 36-Unit Guaranty | 2022… — Sale in Dowagiac, MI, photo 1 of 3
Burger King | New 15-Yr NNN | 36-Unit Guaranty | 2022… — Sale in Dowagiac, MI, photo 2 of 3
Burger King | New 15-Yr NNN | 36-Unit Guaranty | 2022… — Sale in Dowagiac, MI, photo 3 of 3

Investment Figures

Cap rate
6.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present a freestanding Burger King with drive-thru at 903 Spruce Street in Dowagiac, Michigan. The ±3,859-square-foot restaurant, remodeled in 2022, sits on ±1.47 acres and is secured by a new 15-year NNN lease with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $137,703 produces a 6.00% cap rate, with 10% rent increases every five years providing built-in income growth. The lease is guaranteed by Crown Hospitality Partners, Inc., an experienced 36-unit Burger King franchisee with seven decades of combined system experience. The property is positioned along Spruce Street/M-51 (±10,711 VPD), Dowagiac's primary commercial corridor, with neighbors including Family Fare, McDonald's, Tractor Supply, and AutoZone. The 10-mile trade area holds 29,942 residents with an average household income of $97,518, supported by Southwestern Michigan College (2,238 students) and Dowagiac Union High School (507 students). The broader region benefits from Amtrak connectivity to Chicago, Detroit, and Lansing, and ongoing investment including 100+ new housing starts citywide and the 617,000-square-foot Digital Farms technology campus. Burger King operates 19,000+ locations in 120+ countries as a flagship brand of Restaurant Brands International (NYSE: QSR), pairing global brand strength with passive net-lease income. Investment Highlights: • New 15-Year NNN Lease with Zero Landlord Responsibilities • Four (4) Five-Year Renewal Options, Up to 35 Years of Total Occupancy • Scheduled 10% Rent Increases Every Five Years • Guaranteed by Crown Hospitality Partners, Inc. (36-Unit Burger King Franchisee) • Recently Remodeled in 2022 on ±1.47 Acres w/ Drive-Thru • Spruce Street/M-51 (±10,711 VPD) Primary Commercial Corridor • 100+ New Housing Starts Citywide and 617,000 SF Digital Farms Technology Campus

Market Context

This food service in Dowagiac, MI is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing food service assets. Compare it against other food service listings for sale in Dowagiac, MI — view the full market.

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