September 30, 2020 – Rob DiFranco of Horvath & Tremblay has successfully completed the sale of a Chick-Fil-A in Stafford, Virginia. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,800,000, a 3.89% cap rate.
Chick-Fil-A is located at 25 Dunn Drive in Stafford, VA. Originally constructed in 2000, the stand-alone building consists of 4,226 square feet, and sits on 1.0 acres of land. Chick-Fil-A has been at this location for 20 years and recently exercised a 10-year renewal option. Chick-fil-A has 10-years remaining on an absolute triple-net ground lease with one, 10-year renewal option remaining. The Chick-fil-A Lease calls for 12.5% rent increases every five years. Chick-Fil-A is well positioned on a corner lot as an outparcel to Giant Foods and Home Depot, and is situated in the center of a dense retail corridor that is 1-mile from Interstate 95. The property benefits from excellent traffic counts along Garrisonville Road and Interstate-95, with 77,000 and 136,000 vehicles per day respectively. Additionally, there are more than 51,900 people within a three-mile radius with an average household income of $125,453.
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.