September, 6, 2019 – Matthew Nadler of Horvath & Tremblay has successfully completed the sale of a Taco Bell in Portland, Maine. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,825,00, a cap rate of 5.04%.
The Taco Bell is located at 1363 Washington Avenue in Portland. Constructed in 2017, the stand-alone building consists of 2,250 square feet and sits on 0.45 acres of land. Taco Bell has a new 20-year NNN lease with four, 5-year options. The lease features 10% increases every five years throughout both the current term and the option periods. Taco Bell sits in the middle of the area’s main retail corridor, and sits in front of the Northeast Business Park which is anchored by L.L. Bean’s Call Center and Martin’s Point HealthCare. The location is also 1-mile from the University of New England’s Westbrook College which has an enrollment in excess of 14,000 students.
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.