December 17, 2019 – RJ Tuller, Robert Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Wendy’s in Lexington, Kentucky. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $1,700,000, a 5.56% cap rate.
Wendy’s is located at 1792 Alexandria Drive in Lexington. The stand-alone building consists of 2,669 square feet and sits on a 0.89-acre lot, and benefits from a drive-thru. Wendy’s has a 40-year operating history at this location and recently extended their lease for an additional 10-years with one, 5-year renewal option. The lease calls for 10% rent increases every five years throughout the base term and option period. The property is an outparcel to a Kroger and is extremely well located at the signalized intersection of Alexandria Drive, the area’s primary retail thoroughfare and Darien Drive. Additionally, the property is accessible from US Highway 60.
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.