August 11, 2023 – Michael Talbert of Horvath & Tremblay has successfully completed the sale of Carrabba’s in Gainesville, Florida. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $4,160,390.
Carrabba’s is located at 302 SW 34th Street in Gainesville, Florida. Carrabba’s consists of a 6,688 square foot building situated on a 1.77-acre parcel. Carrabba’s has 9+ years remaining on their Triple Net (NNN) Lease with four (4), 5-year renewal options. The lease calls for attractive annual rent increases throughout the primary lease term and the renewal options providing the investor with an attractive increase in revenue and a hedge against inflation. The property is well located adjacent to the signalized intersection of SW Archer Road and SW 34th Street, two of the area’s primary commercial and commuter corridors with combined traffic counts in excess of 75,000 vehicles per day. Carrabba’s is 1-mile from Interstate 75 and is surrounded by national retailers driving traffic to the area including Walmart Supercenter, Sam’s Club, Target, Publix, Whole Foods, Aldi, Trader Joe’s, Lowe’s, Best Buy, Dick’s, Kohl’s, and numerous national fast casual and quick serve restaurants.
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.