October 7, 2020 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Pizza Hut in Lewiston, Maine. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $855,000.
Pizza Hut is located at 875 Sabattus Street in Lewiston, ME. Constructed in 1998, the stand-alone building consists of 2,402 square feet and sits on 0.76 acres of land. Pizza Hut has 5+ years remaining on a Triple-Net Lease with one, 10-Year Option. The lease features annual rent increases throughout the base term and 15% rent increases at the start of the option period, and in year 6 of the option period. Pizza Hut has been operating at this location for more than 18 years and recently extended their lease, further demonstrating their commitment to this high performing location. The property is well located along a primary four-lane roadway in Lewiston. The Property offers excellent visibility and pylon signage, convenient access, and ample parking. The building features a modern efficient layout and a highly desirable drive-thru lane. The city of Lewiston is the second most populous city in Maine and is home to Bates College and two regional hospitals.
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.