February 13, 2020 – Robert Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Burger King in Heber City, Utah. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,313,000, which translates to a 5.65% Cap Rate.
Burger King is located at 171 East Gateway Drive in Heber City, Utah. Burger King has occupied the stand-alone building since its construction in 2017. Burger King has 17+ 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 in a Walmart-anchored trade area at the confluence of three primary roadways: US Route 40, US Route 89 and East 1200 Street. Approximately 62,400 vehicles per day pass through this confluence.
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.