November 21, 2023 – Zach Smith of Horvath & Tremblay has successfully completed the sale of an Arby’s in Kingsport, Tennessee. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,636,190.
Arby’s is located at 4532 W Stone Drive in Kingsport, Tennessee. Arby’s has a long operating history at this location and executed a new 20-year Absolute NNN Lease upon the close of escrow. The Lease also contains four (4), 5-Year Renewal Options. The lease is guaranteed by AES Restaurants, an experienced operator with more than 170 units. The lease features 10% rent increases every five years throughout both the primary term and the option periods providing the investor with an attractive increase in revenue and a hedge against inflation. Arby’s is prominently positioned along W Stone Drive (US Highway 11W), the area’s primary commercial and commuter corridor. Arby’s is surrounded by national retailers and benefits from limited fast food competition in the immediate area. The Property enjoys convenient access to area schools and is within 2 miles of a Walmart and Lowe’s as well as several grocery stores that drive traffic to the immediate area. Additionally, the Property is 3.1-miles from Interstate 26 and 4.5-miles from Downtown Kingsport.
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.