December 18, 2020 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Wendy’s in Charlotte, North Carolina. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $3,180,000, a 5.00% cap rate.
Wendy’s is located at 5801 N Sharon-Amity Road in Charlotte, North Carolina. The stand-alone building consists of 2,734 square feet and sits on a 0.87-acre lot, and benefits from a drive-thru. Wendy’s has approximately 20 years remaining on a long-term, triple net (NNN) lease that has two, 5-year renewal options. The lease calls for 10% rent increases every five years throughout the base lease term and at the start of each renewal option. The Property has been completely renovated (interior and exterior) to reflect the new Wendy’s prototype building and interior layout. Wendy’s has over 12 years of success at this location, due in large part to the outstanding location. The site is situated adjacent to the signalized intersection of Sharon Amity Road and Milton Road with a combined traffic count in excess of 54,000 vehicles per day. The property is surrounded by national retailers driving traffic to the area, and is approximately 5-miles from downtown Charlotte and UNC Charlotte, the third largest university in the state-system with an enrollment of more than 29,000 students.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.