May 6, 2022 – Steven Schiavello, Patrick Gray and Joe Prisco of Horvath & Tremblay have successfully completed the sale of CarQuest Auto Parts in Winston-Salem, North Carolina. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $490,000.
CarQuest Auto Parts is located at 1210 Link Road in Winston-Salem, North Carolina. Carquest has been operating at the Property since 1990 and recently exercised a renewal option demonstrating their commitment to the location and the market. CarQuest Auto Parts has 3+ years remaining on their lease with one (1), 5-year renewal option. The Carquest lease calls for a scheduled rent increase of 5.9% in the renewal option. The Property is located 400 feet from the signalized intersection of Link Road and Peters Creek Parkway (NC Route 150) the primary commercial corridors in Winston-Salem, North Carolina. The location is easily accessible and conveniently located to draw from the surrounding area and commuters accessing nearby Interstate 40 and US Highway 421. There are more than fifteen (15) car dealerships within 1.5 miles of the Property as well as two (2) Car Rental locations. Winston-Salem is home to several Colleges and Universities including Wake Forest, Salem College, and Winston-Salem State University. The area is home to more than 25,000 full-time students.
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.