June 27, 2018 – Brian Ahrens and Mark Brockwell of Horvath & Tremblay has successfully completed the sale of Burger King in Bolivar, Tennessee. Horvath & Tremblay represented 1031 exchange buyer transaction to close the property at a sale price of $1,260,000, a 6.0% cap rate.
Burger King fully occupies a free standing 3,065-square foot building on a 1.03-acre lot located along W Market Street. There are 18 years remaining on the original 20-year triple net lease with two, 5-year option periods and scheduled rental increases of 10% every five years. The lease is backed by a strong franchisee guarantee with a 40 unit operating history. The property has also experienced strong sales growth over the past three years. Burger King is located along a strong retail corridor with nearby national tenants including: McDonald’s, Taco Bell, Subway, Pizza Hut, Sonic Drive-In, BP and KFC.
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.