March 17, 2023 – Michael Talbert of Horvath & Tremblay has successfully completed the sale of Checkers in New Port Richey, Florida. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,940,000.
Checkers is located at 7415 State Road 54 in New Port Richey, Florida. Checkers has been at this location for more than 30 years and recently extended their lease (early), demonstrating their commitment to the site and the market. Checkers has 15 years of term remaining on their Absolute NNN lease with two (2), 5-year renewal options. The lease calls for annual rent increases throughout the primary lease term and both of their renewal options. The Checkers lease features a corporate guaranty. The Property is exceptionally well located at the signalized intersection of Rowan Road and State Road 54, the area’s primary commercial and commuter corridor with traffic counts in excess of 75,900 vehicles per day and is surrounded by national retailers and densely populated residential neighborhoods. The Property is close to area schools and businesses, and there are a multitude of national tenants along State Road 54 driving traffic to the area. The Property also enjoys convenient access to US Highway 19 and HCA Florida Trinity Hospital.
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.