Properties

Arby's, Starke, FL

433 South Temple Avenue
Starke, FL 32091

PROPERTY SOLD

Property: Investment Sales

Square Footage: 3,737

Acreage: 2.47

Price: $1,440,000

Cap Rate: Call

Description:

• Located on US Hwy 301 in northern FL between Jacksonville and Gainesville
• 3,737 square foot building developed on 2.47 acres that opened in September 2008
• Arby’s is on a 20 year NNN lease with $7,654 rent bumps every 5 years and 4 options
• The building was formerly a Burger King and remodeled into its current use by the seller
• Wendy’s/Arby’s Group Inc, the third largest quick-serve restaurant company in the U.S.
• This transaction closed escrow on November 25, 2009 for approximately $1,440,000
• Buyer was a private 1031 exchange investor out of Illinois and paid cash for the property