February 4, 2021 – Kyle Danielson of Horvath & Tremblay has 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 $3,388,886, a 5.30% cap rate.
Wendy’s is located at 8720 Rachel Freeman Way in Charlotte, North Carolina. The stand-alone building consists of 3,000 square feet and sits on a 1.10-acre lot, and benefits from a drive-thru. Wendy’s has approximately 15 years remaining on a long-term, absolute triple net lease that has three, 5-year renewal options. The lease calls for 7.5% rent increases every five years throughout the base lease term and at the start of each renewal option. The site is situated as an outparcel to the Berewick Town Center, anchored by Harris Teeter and Walgreens, and is adjacent to the entrance to the Berewick Master Planned Community with 2,000+ homes and townhomes, 500+ apartments and a 130-room hotel. Wendy’s is situated just off the signalized intersection of Dixie River Road and Steele Creek Road with a combined traffic count in excess of 40,000 vehicles per day. The property is surrounded by national retailers driving traffic to the area, and is approximately 1/2-mile from Interstate 485, and 10-miles from downtown Charlotte.
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.