April 17, 2018 – Mark Brockwell of Horvath & Tremblay has successfully completed the sale of a Mobil Gas Station in Milton, Washington. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the property for a sale price of $565,000.
Mobil Mart and Gas Station is located at 728 East Meridian Boulevard in Milton. Mobil operates under a recently executed 20-year lease with four, 5-year renewal options. The tenant’s rent includes 2% annual steps providing for fixed, annual increases in revenue. The Property is strategically located on a heavily trafficked, signaled intersection, at the corner of Meridian Boulevard and Milton Way along Milton’s primary retail corridor. Approximately 48,976 vehicles pass the site daily. The property sits across the intersection from a Walgreen’s Pharmacy, 7-Eleven and a Safeway anchored shopping center. Additional prominent retailers in the immediate area include Rite Aid, Starbucks, McDonald’s, O’Reilly’s Auto Parts, AutoZone, Jiffy Lube, Dollar Tree, Bank of America, Key Bank, Arby’s, Dairy Queen, Pizza Hut and Subway.
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.