January 14, 2020 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of KFC/Taco Bell in Sterling, Virginia. Horvath & Tremblay exclusively represented the Seller and procured the 1031 exchange buyer to complete the transaction at a sale price of $2,537,087, a 5.70% cap rate.
KFC/Taco Bell is located at 45960 Denizen Plaza Road in Sterling, Virginia. Constructed in 1998, the property enjoys a long history at this site and as a commitment to this location, KFC/Taco Bell recently completed extensive renovations to update the façade and interior of the restaurant reflecting their modern branding. The stand-alone building consists of 2,276 square feet and sits on a 1.42 acre lot, and benefits from a drive-thru. KFC/Taco Bell has approximately 15 years remaining on a long-term lease that has four, 5-year renewal options. The lease calls for 10% rent increases every five years throughout the base term and option periods. The property is well located, with excellent area demographics including more than 199,000 people within a 5-mile radius and an average household income of more than $174,000.
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.