September 25, 2017 – RJ Tuller, Bob Horvath, Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Burger King in Clayton, North Carolina. Horvath & Tremblay procured the 1031 buyer to close the property at a sale price of $2,050,000, a 5.7% cap rate.
Burger King is located at the hard signalized corner of Boiling Street and US-70 and fully occupies the 4,160-square foot building. This Burger King location recently underwent a new image revitalization which includes interior and exterior upgrades to Burger Kings newest design concept. Burger King has shown commitment to this location with the execution of a new 18-year lease at the close of escrow. The lease also includes 5% rental escalations every five years throughout the base term of the lease and the beginning of each of the four, 5-year options. The property is located along heavily traveled US-70 with traffic counts in excess of 48,800 vehicles per day. National tenants the immediate area include: Food Lion, Aarons, Family Dollar, Jiffy Lube, Pizza Hut, Wendy’s, Domino’s and Advance Auto Parts.
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.