July 13, 2022 – Bob Horvath, Todd Tremblay and Brendan Conway of Horvath & Tremblay have successfully completed the sale of Pizza Hut in Lewiston, Maine. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,265,000.
Pizza Hut is located at 875 Sabattus Street in Lewiston, ME. Constructed in 1998, the stand-alone building consists of 2,402 square feet and sits on 0.76 acres of land. Pizza Hut has been at this location since 2002 and has just extended their lease demonstrating their commitment to the site and the market. Pizza Hut has 15 years remaining on an Absolute NNN Lease with two, 5-Year Options. The lease features attractive 10% rent increases every five years throughout the base term and at the start of the option periods. Pizza Hut is well-located along Sabattus Street (ME Route 126), one of the primary commercial corridors traversing Lewiston, and is 1.5-miles from Bates College and the Saint Mary’s regional Medical Center and 2-miles from the Central Maine Medical Center. The Property is also just 2-miles from Main Street (US Route 202) and 3-miles from Interstate 95. The property is well located along a primary four-lane roadway in Lewiston. The Property offers excellent visibility and pylon signage, convenient access, and ample parking. The building features a modern efficient layout and a highly desirable drive-thru lane. The city of Lewiston is the second most populous city in Maine and is home to Bates College and two regional hospitals.
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.