May 25, 2017 – Bob Horvath and Todd Tremblay of Horvath & Tremblay has successfully completed the sale of Wendy’s in Ocala, Florida. Horvath & Tremblay procured buyer to close the property at a sale price of $2,254,902, a 5.1% cap rate.
Wendy’s fully occupies the 3,556 square foot prototype building which is situated on a large 64,881 Square foot parcel with a drive up window and ample parking. Wendy’s signed a brand new 20-year lease commencing at the close of escrow. The lease also includes 7.5% rental escalations scheduled to occur every five years throughout the base term and each of the four, five year option periods. This Wendy’s restaurant is operated by a strong 180-unit, Florida based operating company with locations throughout Florida, Texas and New Mexico. The property benefits from its strategic location at the signalized intersection of Bhaia Avenue and Maricamp Road, directly in front of Walmart and across the street from Publix Supermarket. Additional tenants in the area include: Walgreens, CVS, McDonald’s, Dollar Tree, H&R Block, Domino’s, Taco Bell, AutoZone, Long John Silvers, Advanced Auto Parts, Family Dollar, Save-a-Lot, Pizza Hut and Wells Fargo. Wendy’s experiences strong traffic count exposure in excess of 31,100 vehicles per day.
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.