Vacant Commercial property | OBX Connection Message Board (2024)

Date Posted: 8/15/2024 10:18 AM

There are 2 properties I'm thinking of. I'm sure there are a lot more. The former McDonalds in KH and former Burger King in french fry alley. You would think owners of these properties would want them occupied to generate income. BK has been empty for years and McD's for what, 2 years now? We're all wondering what might become of them.

Date Posted: 8/15/2024 10:51 AM

Date Posted: 8/15/2024 11:29 AM

Tim might be the man to answer this.

There are 2 properties I'm thinking of. I'm sure there are a lot more. The former McDonalds in KH and former Burger King in french fry alley. You would think owners of these properties would want them occupied to generate income. BK has been empty for years and McD's for what, 2 years now? We're all wondering what might become of them.

The McDonalds property is owned by McDonald Corp. The same franchisee ran them both but only the Kitty one was corporate owned. They raised his rent and he left.

Cook-out still owns the property where Burger King was.

Date Posted: 8/15/2024 12:24 PM

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Date Posted: 8/15/2024 2:08 PM

Tim might be the man to answer this.

There are 2 properties I'm thinking of. I'm sure there are a lot more. The former McDonalds in KH and former Burger King in french fry alley. You would think owners of these properties would want them occupied to generate income. BK has been empty for years and McD's for what, 2 years now? We're all wondering what might become of them.

Well mcdondalds is really a real estate company so probably just holding it till they find a new franchisee or sell for the right price.

Date Posted: 8/15/2024 2:09 PM

Date Posted: 8/18/2024 8:02 AM

Date Posted: 8/18/2024 8:19 AM

So McDonalds owns that property. Do they expect to find a new franchisee who is willing to pay a higher rent? Then what will a hamburger cost?

The ex manager at McD's told me that the company adjusts the rent based on the income the store produces since they own the building. The manager told me that during covid they had a hard time finding help so the eat in part was not open much of the time. This made them produce less income and so they raised the rent to cover the income loss to the company.

I guess they need to find another franchisee or sell the building. The franchisee that was there has 10+ stores they manage so where would the next closest franchisee be?? Va Beach?

Date Posted: 8/19/2024 10:33 AM

This made them produce less income and so they raised the rent to cover the income loss to the company.

So now they've made zero dollars for 2 years! I guess a huge corporation like McDonald's doesn't mind letting a building stay vacant for awhile. Chump change!

Date Posted: 8/19/2024 3:59 PM

This made them produce less income and so they raised the rent to cover the income loss to the company.

So now they've made zero dollars for 2 years! I guess a huge corporation like McDonald's doesn't mind letting a building stay vacant for awhile. Chump change!

The franchise for the Kitty Hawk McDonald’s was held by Tandem Inc. of Elizabeth City.

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They also own the franchise for the KDH and Manteo McDonald’s and also all of them in Elizabeth City and a few more in the Hampton Roads area.

My guess is that McDonald’s picked a bad time to raise the rent. Already struggling with keeping the place staffed, Tandem just said to hell with it, let McDonald’s suffer the consequences of the times.

Date Posted: 8/19/2024 6:19 PM

This made them produce less income and so they raised the rent to cover the income loss to the company.

So now they've made zero dollars for 2 years! I guess a huge corporation like McDonald's doesn't mind letting a building stay vacant for awhile. Chump change!

It's a paper loss that tax shelters other income.

Date Posted: 8/19/2024 7:15 PM

Could it be open?

Date Posted: 8/19/2024 7:51 PM