Iowa Arby's Closing: $1.38M

Waterloo, Iowa, July 11th, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Arby’s, a 3,278-square-foot property located at 3657 Kimball Avenue, Waterloo, Iowa, according to Tim Stephenson, regional manager of the firm’s Philadelphia office. The asset sold for $1,380,000.

Jacob Haslach and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, represented the buyer in this transaction. The buyer was looking for a management free investment with a safe and steady cash flow as they were heading into retirement.

“This was our second transaction with this buyer in one year. We are grateful for their trust and support in our approach when evaluating inventory. This Arby's offered the buyer both a safe and predictable income stream while maintaining a strategic location within the submarket,” said Jacob Haslach.

“We look forward to the continued success of this location as it has operated continuously as an Arby's for the last 26 years,” said Jacob Haslach

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About Marcus & Millichap, Inc. (NYSE: MMI) 

 

Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.