August 9, 2023 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of Dunkin’ in Spring Lake, North Carolina. Horvath & Tremblay exclusively represented the buyer in this transaction at a sale price of $1,450,000.
Dunkin’ is located at 201 Spring Avenue in Spring Lake, North Carolina. Dunkin’ has been at the Property since its construction in 2018. The newer construction building consists of 1,800 square feet and is situated on a 0.41-acre corner parcel. Dunkin’ signed a new 10-year Absolute NNN Lease with three (3), 5-year renewal options. The lease calls for attractive 10% rent increases every 5-years throughout the primary lease term and at the start of each renewal option. The property enjoys outstanding visibility and frontage at the signalized intersection of Spring Avenue, Livington Highway and N Bragg Boulevard, two of the area’s primary commercial and commuter corridors with combined traffic counts in excess of 69,000 vehicles per day. Dunkin’ is across the street from Walgreens and is surrounded by national retailers driving traffic to the area including Walmart Supercenter, Compare Foods, Dollar Tree, McDonald’s, Taco Bell, and Sonic. Dunkin’ is also just minutes from Fort Liberty (formerly Fort Bragg), one of the world’s largest Military installations with approximately 54,000 military personnel living and working on the base and providing a strong built-in customer base.
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.