January 16, 2020 – Kyle Danielson and Dan Bernardini of Horvath & Tremblay have successfully completed the sale of KFC/Taco Bell in Worcester, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,913,043, a 5.75% cap rate.
KFC/Taco Bell is located at 418 Park Avenue in Worcester, Massachusetts. KFC/Taco Bell enjoys a long history at this site and as a commitment to this location KFC/Taco Bell recently executed a brand new 20 –year lease with four, 5-year option periods. The stand-alone building consists of 1,752 square feet and sits on a 0.30 acre lot, and benefits from a drive-thru. The lease calls for 10% rent increases every five years throughout the base term and option periods. The property is well located, with excellent visibility and signage, and strong area demographics including more than 222,600 people within a 5-mile radius and an average household income of approximately $80,000.
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.