March 2,2022 – Bob Horvath, Todd Tremblay and Hobart Hare of Horvath & Tremblay have successfully completed the sale of Irving Gas and Convenience Store in Rochester, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $7,222,222.
The Irving Gas & Convenience Store is located at 717 Columbus Avenue in Rochester, NH. The Property consists of a 1.76-acre lot leased to Irving Oil for a brand-new 20-year term with four (4), 5-year renewal options. The corporate lease provides for a 10% rent increase every five years throughout the base term and at the start of each renewal term. The stand-alone gas station and convenience store is situated at the signalized intersections of Columbus Avenue and Brock Street, one of the best locations in Rochester to capture passing motorists on the heavily travelled Columbus Avenue (NH Route 125) commercial corridor, which includes most of the area’s retail, dining, lodging and entertainment options. The Property is located ½-mile from the interchange with the Spaulding Turnpike (NH Route 16) and 1.5 miles from US Route 202. Over 15,000 vehicles pass the Property each day at the signalized intersection of Columbus Avenue and Brock Street. More than 35,300 vehicles pass by the Property along the nearby Spaulding Turnpike (NH Route 16).
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.