Most people don't realize it, but McDonald's is not a burger-flipping restaurant chain; it is one of the world's best real estate portfolios. Franchisees flip the burgers. McDonald's simply owns the best commercial property all over the world. Think about it, every town and city in the Country and many of the world, who owns the best lot on highest traffic intersection? McDonald's.
And thinking about the franchises around here, they are certainly in high traffic locations, but they aren't particularly in advantageous locations compared to their competitors.