November 20, 2024 – Michael Talbert, Dan Bernardini and Jarett Zackman of Horvath & Tremblay have successfully completed the sale of a Wendy’s in Vero Beach, Florida. Horvath & Tremblay represented the seller and sourced the buyer to complete the transaction at a sale price of $2,200,000.
Wendy’s is located at 6210 20th Street in Vero Beach, Florida. Constructed in 1996, Wendy’s occupies a 3,315 square foot single tenant building on a 0.94-acre parcel of land. Wendy’s has over 7 years remaining on their Triple Net (NNN) lease with one (1), 5-year renewal option. The lease features attractive 7% rental increases every 5 years throughout the base term and at the start of the renewal option period. The Property is an outlot to the Indian River Mall and also to a Lowe’s anchored shopping center and benefits from outstanding visibility and frontage along 20th Street (FL Route 60). 20th Street is the area’s primary commercial and commuter corridor and is home to countless national retailers and restaurants, all of which drive traffic to the area. Additionally, the Property is surrounded by residential neighborhoods and planned communities that provide a built-in customer base. The Property is situated in between US Route 1 and Interstate 95, both approximately 4-miles away.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.