July 1, 2020 – Jeremy Black of Horvath & Tremblay has successfully completed the sale of Wendy’s in West Seneca, New York. Horvath & Tremblay exclusively represented the seller, and procured the buyer, to complete the transaction at a sale price of $2,650,000, a 5.10% cap rate.
Wendy’s is located at 2021 Ridge Road in West Seneca, New York. The stand-alone building consists of 2,476 square feet and sits on a 0.98-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 Ridge Road and Orchard Park Road (US Route 240) with excellent area demographics including more than 174,000 people within a 5-mile radius and an average household income of more than $67,000.
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.