February 21, 2020 – Robert Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Burger King in Farr West City, Utah. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,324,500, which translates to a 5.70% Cap Rate.
Burger King is located at 1655 West 2700 North (State Route 134) in Farr West City, Utah. Burger King has occupied the stand-alone building since its construction in 2016. Burger King has 16.5+ years of term remaining on a corporate lease followed by four 5-Year renewal options. The lease calls for 1.25% annual increases throughout the base term and option periods. The property is extremely well located along Utah Route 134, and enjoys excellent visibility, signage, entry and egress and has a double drive-thru. Additionally, Burger King is seconds away from Interstate 15 and has high traffic counts (more than 23,200 vehicles per day on Route 134 and more than 68,000 vehicles per day on Interstate 15).
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.