December 30, 2019 – Jeremy Black of Horvath & Tremblay has successfully completed the sale of Wendy’s in Rochester, New York. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,609,040, a 5.00% cap rate.
Wendy’s is located at 1951 Buffalo Road (NY Route 33) in Rochester. Constructed in 1979, the property enjoys a long history at this site. The stand-alone building consists of 3,076 square feet and sits on a 1.68 acre lot, and benefits from a drive-thru. Wendy’s has approximately 16 years remaining on a long-term, absolute triple net (NNN) lease that has two, 5-year renewal options. The lease calls for 10% rent increases every five (5) years throughout the base term and option periods. The property is well located at the intersection of Buffalo Road (NY Route 33) and Marway Circle with excellent area demographics including more than 185,000 people within a 5-mile radius and an average household income of more than $56,000.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.