December 4, 2019 – Robert Horvath and Kyle Danielson of Horvath & Tremblay have successfully completed the sale of Taco Bell and Long John Silver’s in Salem, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,549,000.
Taco Bell and Long John Silver’s is located at 322 South Broadway (Route 28) in Salem. Constructed in 2006, the stand-alone building benefits from a drive through and sits on a 0.60-acre lot. Taco Bell and Long John Silver’s has 7+ years remaining on a 20-year triple net (NNN) lease with four, 5-year renewal options. The lease calls for 10.0% rent increases every five years throughout the base term and in each of the option periods. The property is well located along South Broadway (Route 28), which is the primary corridor in Salem with average daily traffic counts in excess of 28,500 vehicles, and is just seconds from Interstate 93. Additionally, Taco Bell and Long John Silver’s is surrounded by national retailers and a regional mall. The location also benefits from strong demographics with over 159,000 people within a 5-mile radius with an average household income in excess of $86,500.
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.