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Views: 10 DOM: 11 Updated: 09.05.24 Posted: 09.05.24 Status: Active

Summary

Price $2,779,570
Built/Renov 2016
Tenant Wendy's (GL)
Cap Rate 4.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,575
Lease Start 12-31-2016
#Units 7,240
Price/SF $777.50
Expiration 12-31-2031
Tenant Type Fast Food/QSR
NOI $129,250
R. Term 7.3
Ownership Ground Lease
Rent/SF $36.15
Increases 10.0%/5/yrs
Pop 5Mi 229,194
Lot/AC 0.79
Options 5/5yrs/10%
AHHI 5Mi $83,761

Lease Highlights

  • Wendy’s has 7+ years remaining on the current ground lease term with 5 (5-year) options to extend
  • The lease features 10% rental escalations throughout throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NASDAQ: WEN)

Location Description

Wendy's is strategically located at the hard corner intersection of 4th Street N and 41st Avenue N, with access to a combined daily traffic count of 41,000 vehicles. The property boasts proximity to three grocery stores within 500 feet and six within a mile. The newly opened Whole Foods is positioned directly behind the site, with one of its access roads along the southern boundary of the...

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Maps

  • 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

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 restaurant...


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