August 16, 2016 – Bob Horvath and Kyle Danielson of Horvath & Tremblay have successfully brokered the sale of a free standing Wendy’s located in California, Maryland. Horvath & Tremblay represented the seller and procured the buyer to close the sale at a price of $2,224,853, a cap rate of 6.65%. The broker of record for the transaction was DZ Net Lease Realty, LLC.
Situated on an out parcel to a Walmart Supercenter, Wendy’s is well positioned at a highly visible location with direct street frontage along Three Notch Road (Route 235) a main retail shopping corridor and is easily accessible off of Patuxent Beach Road (Route 4). Wendy’s occupies the 3,037-square foot building operated by Davco Restaurants, Inc., who has extensive operating experience which includes over 150 Wendy’s locations. There are over nine years remaining on the triple net (NNN) lease with (4) 5 year options. Attractive rental escalations are scheduled throughout the remaining base term of the lease and in each option period.The property is ideally situated along a main retail thoroughfare with neighboring national tenants including: Checker’s, Applebee’s, Food Lion, KMart, McDonald’s, Popeye’s, Dunkin’ Donuts, AT&T, Panera Bread, Best Buy, Petco Animal Supplies, Red Robin, SunTrust Bank, Chik-fil-A, Target, Giant, Burger King, Ruby Tuesday, Olive Garden, Chipotle Mexican Grill, and AutoZone.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.