April 24, 2020 – Dan Bernardini of Horvath & Tremblay has successfully completed the sale of Burger King in Pageland, South Carolina. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,455,000, which translates to a 5.84% Cap Rate.
Burger King is located at 201 N Van Lingle Mungo Boulevard (SC Route 151) in Pageland, SC. Burger King has occupied the stand-alone building for more than 20 years, and recently funded a complete remodel of the property. Burger King has 9.5 years of term remaining on an Absolute NNN lease followed by two 5-Year renewal options. The lease calls for a 6.0% increase in 2022 and 12.0% increases at the start of each of the option periods. Burger King is extremely well located along Pageland’s main commercial corridor with two points of entry and egress. Additionally, the property benefits from the high traffic counts in excess of 18,300 vehicles per day at the intersection of N Van Lingle Mungo Boulevard (SC Route 151) and E McGregor Street.
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.