October 23, 2020 – Justin Spillane of Horvath & Tremblay has successfully completed the sale of Burger King in Sevierville, Tennessee. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,600,000, a 6.00% Cap Rate.
Burger King is located at 412 Forks of the River Parkway in Sevierville, Tennessee. The stand-alone building consists of 3,280 square feet on a 0.97 acre of land. Burger King signed a 15-year lease in 2017 and has 11+ years of term remaining on an Absolute NNN lease followed by four, 5-Year renewal options. The lease calls for a 5.0% increase every five years throughout the base term and at the start of each renewal option. Burger King is extremely well located along Sevierville’s main commercial corridor with three points of entry and egress. Additionally, the property benefits from the high traffic counts in excess of 53,000 vehicles per day along Forks of the River Parkway (US Route 441). Sevierville is a well-traveled city located between Ashville, NC and Knoxville, TN along Interstate 40.
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.