Wendy's

9301 Knights Drive, Punta Gorda, FL 33950

$2,817,000

Cap Rate 5.00%

Views: 53 DOM: 70 Updated: 10.16.24 Posted: 09.12.24 Status: Active

Summary

Price $2,817,000	Built/Renov 1987/2001	Tenant Wendy's
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,697	Lease Start 12-14-2022	#Units 50
Price/SF $1,044.49	Expiration 12-31-2042	Tenant Type Fast Food/QSR
NOI $140,869	R. Term 18.1	Ownership Fee Simple
Rent/SF $52.23	Increases 1.5%/1/yrs	Pop 5Mi 34,579
Lot/AC 1.33	Options 4/5yrs/1.5%	AHHI 5Mi $95,378

Lease Highlights

Wendy’s has 18+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 1.5% annual rental increases throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by Tim Cloe (50 units backed)

Location Description

Wendy’s is strategically located on Knights Drive and Jones Loop Road, with access to a combined daily traffic count of 23,000 vehicles. The property is directly across from a Walmart Supercenter and ALDI, providing excellent visibility. Situated just off Interstate 75 (66,200 VPD), the location offers convenient on-and-off ramp access. The site also features two points of entry and is...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Freeway close
Top 100 MSA
Income tax free state
Long 15+ yr lease
Absolute NNN
Annual rent increases
50+ unit franchisee backed

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Links

Wendy's Wikipedia Wendy's Wikipedia Punta Gorda, Florida Zip Code 33950 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wendy's
Guarantor:Franchisee
Company:Tim Cloe
# Units:50
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 and its subsidiaries operate as a quick-service...

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Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
27318 Views
93 Sold

William Wamble

SRS National Net Lease Group

Contact

186 Listings
20902 Views
49 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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