October, 28, 2019 – Robert Horvath, Todd Tremblay and Aaron Huntley of Horvath & Tremblay have successfully completed the sale of a Wendy’s in Philadelphia, Pennsylvania. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,181,818, a 5.5% cap rate.
Wendy’s is located 2037 South Broad Street in Philadelphia, PA. Originally constructed in 1900, the stand-alone building consists of 3,000 square feet, which was redesigned for Wendy’s and sits on 0.09 acres of land. Wendy’s signed a new 10-year double-net lease in 2017. The lease features 10% increases every five-years, and has four, 5-year option periods. Wendy’s is well located in a dense urban area, and has a “Walk-Up Window” to capture the pedestrian traffic. Additionally, there are more than 100,000 people within a one-mile radius.
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.