Applegreen-Gas---Kittery,-ME

September 23, 2019 –Robert Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of an Applegreen Gas (Mobil Gas & 7-Eleven) in Kittery, Maine.  Horvath & Tremblay exclusively represented the seller in the transaction at a sale price of $4,775,000, which translates to a 5.59% Cap Rate.

The Single Tenant location will feature a new construction 6-Pump Mobil branded Gas Station and a modern 3,200 square foot 7-Eleven branded Convenience Store.  Located at 286 US Route 1 in Kittery, ME, this property will feature a new 15-Year NNN Lease with four, 5-Year Options.  Each option period features a 10% rent increase.  Applegreen Gas provides a corporate guarantee from a publicly traded company (found on the UK & Irish based stock exchanges) that is based in Dublin, Ireland and Plainview, NY.  The company has 472 locations worldwide (121 of which are in the United States), with gross revenues in excess of $2.13B.

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.