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Long Island
Posted: November 2, 2021
Mancini and Cranz of Five Point Real Estate broker $2.175m sale
Patchogue, NY Five Point Real Estate handled the sale of a Burger King at 500 Waverley Ave. This was a 100% triple net deal. The property sold for $2.175 million. The cap rate was 4.9%.
The seller was Dr. John Green and the buyer was a private local investor.
Jerry Mancini of Five Point Real Estate represented the seller, while Tyler Cranz of Five Point Real Estate represented the buyer.
“Burger Kings are considered a quick-service restaurant (QSR) and are in very high demand right now. Drive-thrus as well are in high demand since COVID,” said Mancini.
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Long Island
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