November 16, 2023 – Zach Smith of Horvath & Tremblay has successfully completed the sale of a Taco Bell in Asheboro, North Carolina. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,528,000.
Taco Bell is located at 1408 East Dixie Drive in Asheboro, North Carolina. Taco Bell commenced a new 20-year Triple Net (NNN) Lease with four (4), five-year renewal options upon the close of escrow. The newer construction building was completed in 2022 and features a drive-thru lane and outdoor seating. The lease calls for attractive 10% rent increases every five years throughout the base term and at the start of each option period, providing a steady increase in income and an attractive hedge against inflation. The Property is extremely well located adjacent to the signalized intersection of E Dixie Drive (US Highway 64 BUS) and NC Route 42, two of the area’s primary commercial and commuter corridors. Taco Bell is a pad-site to a Marshalls and Hobby Lobby anchored shopping center and is across the street from the Asheboro Mall. The Property enjoys outstanding visibility and frontage and is surrounded by national retailers including Walmart Supercenter, Food Lion, Lowe’s, Aldi, Chick-fil-A, and McDonald’s drawing significant traffic to the area.
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.