August 29, 2022 – Charles Moody of Horvath & Tremblay has successfully completed the sale of a Dunkin’ and Valvoline in Estero, Florida. Horvath & Tremblay exclusively represented the seller and also procured the buyer to complete the transaction at a sale price of $3,350,000. The sale price represents a 4.76% cap rate.
The Dunkin’ and Valvoline are located at 20290 Grand Oak Shoppes Boulevard in Estero, Florida. The Dunkin’ and Valvoline are each in a single-tenant, freestanding building operating under long term, Absolute NNN ground leases. Dunkin’ signed a 15-year lease in 2016 that currently has over 9 years remaining, followed by two (2), 5-year renewal options. Valvoline signed a 15-year lease in 2017 that currently has 10 years of term remaining, followed by four (4), 5-year renewal options. Both leases feature 10% rental increases every 5 years throughout the base terms and at the start of each renewal option period. Both Dunkin’ and Valvoline are operated by strong and seasoned franchisees with outstanding track records for success. The Property is well-located on an out-parcel to the Publix-anchored Shoppes of Grande Oak. The retail center is situated at the busy, signalization intersection of Ben Hill Griffin Parkway, Corkscrew Road and Stoneybrook Golf Boulevard. The intersection sees more than 64,700 vehicles per day. The Dunkin’ and Valvoline benefit from excellent visibility and frontage along Ben Hill Griffin Parkway. The Shoppes of Grande Oak is directly across the street from the Miromar Outlets, a major outdoor shopping center featuring an extensive selection of designer and name brand outlet stores.
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.