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Wendy's

2962 Kirk Road, Aurora, IL 60502

$2,608,695

Cap Rate 5.75%

$2,678,571

Cap Rate 5.60%

Views: 150 DOM: 158 Updated: 09.27.24 Posted: 04.13.24 Status: Sold 09.18.24

Summary

Price $2,608,695 $2,678,571
Built/Renov 2018
Tenant Wendy's
Cap Rate 5.75% 5.60%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,336
Lease Start 12-01-2024
#Units 41
Price/SF $1,116.74 $1,146.65
Expiration 11-30-2044
Tenant Type Fast Food/QSR
NOI $150,000
R. Term 19.11
Ownership Fee Simple
Rent/SF $64.21
Increases 10.0%/5/yrs
Pop 5Mi 181,818
Lot/AC 1.23
Options 4/5yrs/10%
AHHI 5Mi $120,965

Jimmy Goodman
The Boulder Group (HQ)
Contact

Randy Blankstein
The Boulder Group (HQ)
Contact

Lease Highlights

  • Wendy’s will be executing a brand new 20-year lease with 4 (5-year) options to extend at the close of escrow
  • The lease features 10% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Wenzak QSC (41 units backed)

Location Description

Wendy’s is strategically located on Kirk Road, with access to 36,100 vehicles passing by daily. Positioned as an outparcel to Walmart, the property connects directly south to Interstate 88, accommodating a robust traffic count of 109,000 VPD. The surrounding area boasts well-known national tenants such as Walgreens, Starbucks, Advance Auto Parts, Physicians Immediate Care, Chipotle, and more....

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Key Features

  • Build to suit

  • Near major nationals

  • WalMart out-parcel

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Long 20+ yr lease

  • Low rent to sales ratio

  • Absolute NNN

  • 25+ unit franchisee backed

    • ...

Links

Wendy's Wikipedia Wendy's Wikipedia Aurora, Illinois Zip Code 60502 Broker Site Page

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wendy's
  • Guarantor:Franchisee
  • Company:Wenzak QSC
  • # Units:41
  • 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 : 5,142 50,038 179,857
2023 Total Population : 4,840 49,875 181,818
2023 Employed Civilian Pop : 2,846 26,365 95,902
2023 Total Businesses : 217 1,722 5,860
2023 Average Household Income : $ 178,219 $ 136,445 $ 120,965
2023 Total Consumer Spending : $ 248 M $ 2168 M $ 6729 M
2023 Median Age : 36 39 35
2023 Total Households : 1,657 18,695 65,050
2023 Pop Age 25+: Bachelor's Degree : 1,296 9,511 29,890
2023 Average Home Value : $ 387,509 $ 332,635 $ 304,434
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
77 Butterfield Rd 2014 36,100 0.05 mi
Butterfield Rd Downen Rd 2013 16,200 0.20 mi
Butterfield Rd Savannah Dr 2011 16,700 0.21 mi
N Farnsworth Ave Kirk Rd 2014 30,100 0.29 mi
Butterfield Road 2019 18,600 0.33 mi
Church Rd Butterfield Rd 2014 6,650 0.37 mi
Kirk Road Riverbirch Dr 2018 35,200 0.39 mi
S Raddant Rd Sonoma Ln 2014 2,300 0.47 mi
Butterfield Road 2019 15,600 0.49 mi
IL 56 2021 17,500 0.58 mi

Listing Broker

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