DADE CITY, FL, Oct. 6, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Village Inn (top left photo), a 4,620-square foot single-tenant net-leased restaurant located in Dade City, Fla., according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office.
The asset commanded a sales price of $875,000.
Moe Derbala (lower right photo), a retail specialist an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Florida-based seller, a private investor. The listing agent also secured the buyer of the property, a private investor based out of Dunedin, Florida.
Village Inn was built in 1978 and is located at 12880 US Highway 301. The property is situated on an out parcel of a large shopping center, anchored by Big Lots and Save-A-Lot which are adjacent to Walmart and Sweetbay supermarket.
“This was a sale lease-back transaction that closed in just over three months,” says Derbala.
Press Contact: Bryn D. Merrey, Vice President/Regional Manager, Tampa, (813) 387-4700
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