December 29, 2020 – Hobart Hare and Todd Tremblay of Horvath & Tremblay has successfully completed the sale of Burger King in Hebron, Ohio. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,350,000, a 5.75% Cap Rate.
Burger King is located at 608 East Main Street in Hebron, Ohio. The stand-alone building consists of 2.974 square feet on 0.859-acres of land. The new construction Burger King features a 20-year triple net lease followed by five, 5-Year renewal options. The lease calls for a 7.5% increase every five years throughout the base term and at the start of each of the five renewal options. The restaurant is an outparcel to a popular Kroger Grocery, Pharmacy & Fuel located just off Hebron Road, minutes from the affluent lake-front communities of Buckeye Lake. It is also on the main corridor of a dense industrial sector, driving lunch-option demands for manufacturing plants like Owens Corning and THK. The site also benefits from limited dining competition with only one other national QSR brand nearby. The restaurant’s double drive-thru opened in July of 2020 and despite dining room closures, sales have been trending above the brand’s national average.
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.