July 7, 2023 – Kyle Danielson and Ryan O’Rourke of Horvath & Tremblay have successfully completed the sale of Scooter’s in Washington, Iowa. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $800,000.
Scooter’s is located 321 S Iowa Avenue in Washington, Iowa. The free-standing single tenant Scooter’s Coffee consists of a 664 square foot building with a drive-thru. Scooter’s signed a new 15-year Absolute NNN lease with four (4), five-year renewal options at the close of escrow. The lease calls for attractive 2% annual increases in rent throughout the base term and renewal options. The Property is extremely well located at the signalized intersection of W Madison Street and S Iowa Avenue in the heart of Washington. The location is three blocks from Central Park Fountain (the Town Green) and is part of the downtown business district, with numerous businesses, restaurants and retailers drawing traffic to the area. The Property is also close to several area schools (Washington Middle School 0.2-miles, Lincoln Upper Elementary 0.6-miles, Stewart Elementary & Washington High School 0.9-miles, Kirkwood Community College 2-miles), the Washington County Hospital (0.8-miles), and residential neighborhoods providing a built-in customer base. Scooter’s Coffee is a fast-growing national Drive-Thru Coffee chain. Founded in 1998 the company is rapidly expanding and is approaching 600 locations across 28 states with plans to reach 1,000 locations by the end of 2024.
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.