Poughkeepsie, NY, June 12th, 2023 – 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 Dunkin’, a 1,288-square-foot Net-Leased property located at 411 Violet Ave, Poughkeepsie, NY, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $1,250,000.
Derrick Dougherty, Colin Reder, and Scott Woodard, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property, “The seller, a well-respected Dunkin’ Franchisee, did an amazing job positioning this site in an affluent suburban area with a large population of 85K and a high average household income of $101K," said Colin Reder.
With over 13,000 locations in thirty-six different countries, Dunkin’ is an internationally well recognized brand. "Dunkin' continues to be one of the most well-known and popular coffee chains on the east coast. Since opening in 2008, this location has demonstrated remarkable success, achieving a consistent annual sales growth of 3% each year," said Colin Reder.
Furthermore, this property benefits from being the only quick service restaurant within a 2-mile radius. "This site has tremendous real estate fundamentals with 14 years of lease term remaining, 12% increases every five years, two options available, ample parking, and easy accessibility," said Colin Reder.
Marcus & Millichap, Inc. is a leading 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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
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