Fabio Faerman and Sebastian Faerman of FA Commercial, the commercial division of Fortune International Realty, just closed the deal for a Wendy’s located on 726 SW Federal Highway in Stuart, Florida for $1,870,000, which translates to $614 per square foot. The Faermans represented the seller in the transaction.
Triple-net investment property with a cap rate of 6.85%, zero landlord responsibilities, three years remaining on the lease, and four consecutive five-year options with a 7% rent increase in each option.
Adjacent to a Publix-anchored shopping center, the property is on a hard corner at a signalized intersection and has frontage facing US-1, which sees 49,000 vehicles per day.
The city of Stuart is centrally located between West Palm Beach, Port St. Lucie and Fort Pierce.
Utilizing the team’s distinctive, comprehensive, and thorough approach, FA Commercial was able to tap into its extensive proprietary list of investors, including continued motivated buyers, to curate multiple competitive offers, which resulted in a successful closing in an expedited time frame.