Harbert Retail’s Casey Howard and Lacey Scott represented the buyer of a Dunkin’ in a 1031 exchange purchase for $1,788,910 (5.5% Cap Rate). An experienced Dunkin’ operator with 36 locations across 6 states has entered into a long tern 20-year absolute NNN lease at the newly constructed Montgomery location.
The new Dunkin’ is located at 6300 Atlanta Highway, a high traffic retail corridor in Montgomery, Alabama. The Property is located on Atlanta Highway across from a Walmart Supercenter in a very dense retail area of Montgomery with heavy traffic counts of over 54,900 vehicles per day. Surrounding retail in the area includes Walgreens, CVS, Publix, AutoZone, Advance Auto Parts, Dollar General, La-Z-Boy, and several well-known restaurants. The Property is also just over 1 mile west of the Eastdale Mall and east of the Baptist Medical Center East, a 176-bed hospital.