Wendy's (GL)

1560 South Hamilton Circle, Olathe, KS 66061

$1,224,000

Cap Rate 5.00%

Views: 80 DOM: 123 Updated: 09.05.24 Posted: 05.08.24 Status: Active

Summary

Price $1,224,000	Built/Renov 1995	Tenant Wendy's (GL)
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,938	Lease Start 01-31-1995	#Units 7,240
Price/SF $416.61	Expiration 12-31-2032	Tenant Type Fast Food/QSR
NOI $61,200	R. Term 8.3	Ownership Ground Lease
Rent/SF $20.83	Increases 10.0%/4/yrs	Pop 5Mi 144,123
Lot/AC 0.89	Options 0/0yrs	AHHI 5Mi $124,664

Lease Highlights

Wendy’s has been operating in this location since 1995
The tenant has 8+ years remaining on the current ground lease term with no options remaining
The lease features 10% rental escalations throughout the initial term
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Wendy's is strategically located on S Hamilton Circle, fronting I-35, with access to a robust daily traffic count of 71,940 vehicles. The property is adjacent to a Best Western Plus, a Mazda dealership, and a 7-Eleven gas station. Additionally, it is within walking distance of Olathe Medical Center, a Home Depot & Target-anchored shopping center, Olathe South High School, the headquarters for...

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Key Features

In location for years
High traffic 50M+ VPD
Near major nationals
Freeway visibility
Top 100 MSA
Strong demographics
Strong sales history
Absolute NNN
Traded and rated company
Corporate Guarantee

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Links

Wendy's Wikipedia Wendy's Wikipedia Olathe, Kansas Zip Code 66061 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wendy's
Guarantor:Corp T and Rated
Company:The Wendy's Company
# Units:7,240
Tenant S&P: B+
Moody’s: B3
Stock: NASDAQ: WEN

About Tenant

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company, together with its subsidiaries, operates as a...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	3,132	73,338	147,422
2023 Total Population :	2,912	72,786	144,123
2023 Employed Civilian Pop :	1,475	39,591	78,297
2023 Total Businesses :	457	2,898	4,392
2023 Average Household Income :	$ 92,880	$ 107,874	$ 124,664
2023 Total Consumer Spending :	$ 86 M	$ 2348 M	$ 5437 M
2023 Median Age :	38	35	35
2023 Total Households :	1,083	25,394	51,151
2023 Pop Age 25+: Bachelor's Degree :	520	13,560	30,341
2023 Average Home Value :	$ 298,835	$ 323,202	$ 354,439

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S Hamilton Cir	Meadow Ln	2018	10,710	0.03 mi
	S Harrison St	2021	10,389	0.04 mi
S Harrison St	Meadow Ln	2018	14,500	0.17 mi
South Woodland Street	W 154th St	2021	14,600	0.19 mi
E 151st St	S Hamilton St	2016	34,505	0.23 mi
	I- 35	2021	12,800	0.25 mi
S Harrison St	W South PkBlvd	2015	16,246	0.30 mi
South Harrison Street	Old 56 Hwy	2021	14,600	0.31 mi
South Woodland Street	W 159th St	2021	31,200	0.31 mi
S Woodland St	E 151st St	2013	29,039	0.31 mi

Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

175 Listings
18655 Views
22 Sold

Aron Cline

Berkeley Capital Advisors

Contact

168 Listings
18032 Views
20 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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