April 1, 2021 – Kyle Danielson, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Dunkin Donuts in Belfast, Maine. Horvath & Tremblay exclusively represented the seller in the transaction at a sale price of $2,590,000.
Dunkin Donuts is located at 27 Starrett Drive in Belfast, Maine. The stand-alone building was constructed in 2014 and contains 2,260 square feet and a drive-thru. The build-to-suit Dunkin Donuts has 13+ years remaining on a Double Net (NN) Lease with an additional three (3) 5-Year renewal options. The lease calls for an annual base rent and a percentage rent based upon Dunkin’s annual sales at the location. The lease features a 25% increase in base rent at the start of the first renewal option, and $6,000 increases at the start of the other two renewal options. Dunkin’ Donuts is strategically located on Starrett Drive adjacent to US Route 1 and in between the Lincolnville Avenue (Maine Route 3) and Belmont Avenue (Maine Route 52) exits. Dunkin’ Donuts is shadow-anchored by a Hannaford Supermarket and Ocean State Job Lot center. The Property provides excellent visibility along Starrett Drive and convenient access from both Lincolnville Avenue and Belmont Avenue for area residents and passing travelers on US Route 1. The next closest Dunkin Donuts is 7.5-miles away in Searsport, the second closest location is more than 20-miles from Belfast.
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.