Burger King NNN Properties
Absolute NNN · Ba2 / BB credit · 5.25–6.75% cap rate · $1.5M–$3.2M
Why Investors Buy Burger King NNN Properties
Burger King is the world's second-largest QSR burger chain, with 7,000+ US locations and global brand recognition. Owned by Restaurant Brands International (NYSE: QSR) — the same parent as Tim Hortons and Popeyes — Burger King NNN properties trade at wider cap rates than McDonald's due to the predominantly franchisee-operated model and slightly lower credit profile. Corporate or strong franchisee-guaranteed Burger King NNN assets represent solid value for investors seeking QSR exposure above 5.5% cap rates.
Lease Structure
Brand Financials
Why Investors Choose Burger King
- Global brand recognition — second-largest burger QSR in the world
- Owned by RBI (NYSE: QSR) — institutional parent company backing
- Absolute NNN lease structure on most single-tenant deals
- Strong resale market — well-known brand with consistent buyer demand
- 10% rent bumps every 5 years — inflation-protective income growth
- Higher cap rates than McDonald's — better initial yield for similar QSR exposure
Key Risks to Underwrite
- Predominantly franchisee-operated — guarantee strength depends on franchisee's financial position
- Wider cap rates than McDonald's reflect perceived brand positioning gap
- Brand repositioning and renovation requirements can affect lease economics at renewal
Ideal Investor Profile
- QSR-focused investors seeking higher yields than McDonald's or Starbucks
- 1031 exchange buyers wanting proven fast food brand above 5.5% cap rates
- Portfolio investors balancing Tier 1 and Tier 2 QSR credit across multiple assets
Is Burger King Right for Your 1031 Exchange?
Burger King NNN properties are a popular 1031 exchange destination for investors who want to eliminate active management while preserving their equity in a nationally recognized corporate-guaranteed asset. With typical prices of $1.5M–$3.2M, these properties fit a wide range of exchange equity positions. The Absolute NNN structure means your 1031 replacement property comes with zero landlord obligations — ideal for investors who have sold multifamily, commercial, or other management-intensive assets and want truly passive income.
Compare Other NNN Tenants
Access Off-Market Burger King Properties
We maintain an exclusive inventory of Burger King NNN properties — many of which never appear on LoopNet or CoStar. Contact us to see what's available before it trades.