March 22, 2021 – Jason Woods, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Burger King in Cumming, Georgia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,500,000, a 5.03% Cap Rate.
Burger King is located at 598 Atlanta Highway in Cumming, Georgia. The property is comprised of a single-story building with a drive-through lane, 29 parking spaces, and is positioned on a hard corner at a four-way, signalized intersection. The property is tenanted and operated by GPS hospitality on a Triple-Net (NNN) lease through September 2035, with just under 15 years remaining in the base term and four 5-year extension options. There are attractive 7.5% increases every five-years during the base term and each option period. The property underwent a $450,000 renovation that was completed in April of 2018. GPS Hospitality is one of the top three largest Burger King operators in the country with 424 +/- Burger Kings under operation. Burger King sits on a hard corner at the four-way signalized intersection of Atlanta Highway (13,000 Vehicles Per Day) & Buford Highway (29,600 Vehicles Per Day). The property sits in the center of a major retail corridor and is an outparcel to the Cumming 400 Shopping Center anchored by Publix. Burger King is directly across the street from the Cumming Marketplace, anchored by Home Depot, Lowe’s, Kohls, and Target.
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.