Investing in Burger King Franchisee

Please advise what are the risks in investing this property?
– 16 year lease until year 2028
– initial 7.25 cap, bumping 7.5% next year and every 5 years then onwards
– 50000 people in 1 mile ring
– 3rd largest BK Franchise Heartland food corp (380 unit franchise)

the issue is: their current rent to sales ratio is 10%, which they want to bring down 8.9% with remodeling the store in the next 36 months.

Asking price $1.86M, first year rent $135000. Planning to putdown 30% and take loan for 70%.

Thank you
kv