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Views: 146 DOM: 396 Updated: 10.09.24 Posted: 11.21.23 Status: Active

Summary

Price $2,380,952
Built/Renov 2023
Tenant Wendy's
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,243
Lease Start 11-01-2023
#Units 90
Price/SF $1,061.50
Expiration 11-01-2043
Tenant Type Fast Food/QSR
NOI $125,000
R. Term 18.10
Ownership Fee Simple
Rent/SF $55.73
Increases 7.5%/5/yrs
Pop 5Mi 13,294
Lot/AC 0.90
Options 4/5yrs/7.5%
AHHI 5Mi $61,701

Lease Highlights

  • Brand-new 2023 construction
  • Wendy’s recently signed a brand-new 20-year lease with 4 (5-year) options to extend
  • Lease features 7.5% rental increases every 5 years throughout the initial term and at the start of each option
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Wen JAI Restaurant Group (90 units)

Location Description

Wendy’s is strategically located at the intersection of New Highway 68 and South High Street, with a combined traffic count of 14,689 vehicles. Positioned across from Ingles Market and Rural King, and situated in front of a Dollar Tree, the property has excellent visibility and accessibility. In the immediate vicinity, notable educational institutions include Cleveland State Community College,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 2,195 8,687 13,905
2023 Total Population : 2,211 8,672 13,798
2023 Employed Civilian Pop : 843 3,405 5,548
2023 Total Businesses : 201 366 415
2023 Average Household Income : $ 64,002 $ 63,876 $ 66,829
2023 Total Consumer Spending : $ 52 M $ 200 M $ 329 M
2023 Median Age : 46 44 44
2023 Total Households : 910 3,499 5,525
2023 Pop Age 25+: Bachelor's Degree : 177 785 1,255
2023 Average Home Value : $ 201,966 $ 193,368 $ 205,398
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
SR 68 S High St 2022 14,689 0.09 mi
S High St 2021 13,508 0.09 mi
State Hwy 68 Hwy 11 2003 13,420 0.10 mi
S Main St Lee Hwy 2003 9,070 0.68 mi
South High Street Williams St 2022 2,165 0.69 mi
Old Athens Pike Robbins St 2022 1,461 0.79 mi
Monroe Street Butler Dr 2022 4,384 0.84 mi
MONROE ST. N High St 2021 4,943 0.84 mi
North Main Street Biggs St 2022 8,695 0.86 mi
US 11 Monroe St 2021 7,880 0.86 mi

Listing Broker

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