Marcus & Millichap has successfully sold a Burger King located at 164 S. Main Street in New City, New York. The subject property is situated on a parcel featuring 1.09 acres. The Burger King is subject to a new 20-year triple-net lease, which commenced on December 8, 2017. The property is strategically situated along S. Main Street, in New City just 27 miles from New York City. The site's positioning on South Main Street offers excellent visibility and exposure to the nearly 28,500 vehicles that travel along it on a daily basis.

This Burger King is operated by Devs Foods LLC., a Burger King's franchisee based out of Edison, New Jersey. Devs Foods operates 14 locations in Connecticut, New York and New Jersey. The company is led by Dipak and Sanjay Patel who have spent the past few years reimaging their sites in the tristate area and growing their presence in this core market. The subject site in New City recently underwent a major renovation to bring the site to the newest Burger King store format, all at the expense of the tenant which demonstrates their commitment to this fantastic location.

Investors will benefit from a phenomenal increase structure which includes a 22 percent rental increase in 2023, followed by a 10 percent rental increase just five years later. Furthermore, the two five year renewal periods are complete with three percent annual rental increases, providing investors with a further hedge against inflation.

• There are 19+ Years Remaining on an Original 20-Year Lease
• Major Tenant Renovation to New Burger King Format Less than One Year Ago
• Unparalleled Location | Less Than 27 Miles from New York City
• Has a 22% Increase in 2023