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.