August 28, 2020 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of Wendy’s in Auburn, Massachusetts. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $2,140,000, a 5.05% cap rate.
Wendy’s is located at 688 Southbridge Street in Auburn, Massachusetts. The stand-alone building consists of 3,188 square feet and sits on a 1.09-acre lot, and benefits from a drive-thru. Wendy’s has approximately 15 years remaining on a long-term, absolute triple net (NNN) lease that has three, 5-year renewal options. The lease calls for 10% rent increases in year 10 and at the start of each option period. The property is extremely well located less than ¼ mile from Interstate 90 and 395 and US Route 20. The property also benefits from strong area demographics including more than 83,000 people within a 5-mile radius and an average household income of more than $81,875.
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.