Cap Rate: 5.25%
Net Operating Income: $78,517
Square Footage: 2,805
Lot Size: 0.77 AC
Year Built: 1983
The subject offering is a Burger King ground lease operated by Burger King corporation. The tenant has been at this location since 1983 and have just executed a new 10 year lease extension, showing commitment to the location. The subject property is located on a major commercial thoroughfare and is surrounded by national retailers including TJ Maxx, Wendy’s Burlington, Starbucks, IHOP, and many others. The Burger King also benefits from its position at a signalized intersection with traffic counts in excess of 70,500 vehicles per day.
The site benefits from its position in an affluent area of Omaha. There are 86,519 residents within three miles of the subject property, with an average household income of $93,598.
Omaha is the largest city in the state of Nebraska and the county seat of Douglas County. Omaha is in the Midwestern United States on the Missouri River, about 10 miles north of the mouth of the Platte River. The nation’s 40th-largest city, Omaha’s 2018 estimated population was 466,061.
Omaha is the anchor of the eight-county, bi-state Omaha-Council Bluffs metropolitan area. The Omaha Metropolitan Area is the 59th largest in the United States, with an estimated population of 944,316 (2018). The Omaha-Council Bluffs-Fremont, NE-IA Combined Statistical Area (CSA) encompasses the Omaha-Council Bluffs MSA as well as the separate Fremont, NE Micropolitan Statistical Area, which consists of the entirety of Dodge County, Nebraska. The total population of the CSA was 970,023 based on 2017 estimates. Approximately 1.3 million people reside within the Greater Omaha area, within a 50 mi radius of Downtown Omaha.