March 25, 2025 – Austin Smith of Horvath & Tremblay has successfully completed the sale of Wendy’s in Chesapeake, Virginia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,225,000.
Wendy’s is located at 636 Grassfield Parkway in Chesapeake, Virginia. Wendy’s occupies a 2,988 square foot building positioned on a 1.51-acre parcel of land and has 3+ years remaining on their Absolute NNN Lease with four (4), 5-year renewal options. The lease features attractive 10% rent increases at the start of each renewal option, providing the investor with an attractive increase in revenue and a hedge against inflation. Wendy’s is situated along Grassfield Parkway and is an outparcel to a Walmart Supercenter. The Property is seconds from Dominion Boulevard (US Highway 17) and Cedar Road, the area’s primary commercial corridor. The Property enjoys outstanding visibility and frontage and is surrounded by national retailers and restaurants that drive traffic to the area. Additionally, the Property is convenient to area schools and residential neighborhoods that provide a built-in customer base and is 4 miles from the junction of Interstates 64 and 464.
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.