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Views: 91 DOM: 93 Updated: 10.18.24 Posted: 09.28.24 Status: Active

Summary

Price $2,455,334
Built/Renov 2007
Tenant Wendy's
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,578
Lease Start 03-24-2021
#Units 190
Price/SF $952.42
Expiration 01-31-2042
Tenant Type Fast Food/QSR
NOI $135,043
R. Term 17.1
Ownership Fee Simple
Rent/SF $52.38
Increases 1.3%/1/yrs
Pop 5Mi 95,555
Lot/AC 1.14
Options 1/5yrs/1.25%
AHHI 5Mi $127,458

Lease Highlights

  • Wendy’s has 17+ years remaining on the current lease term with 1 (5-year) option to extend
  • Wendy's has been at this location since 2007
  • The lease features 1.25% annual rent increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Flynn Group (190 units backed)

Location Description

Wendy’s is strategically located at the signalized, hard corner intersection of Paul Martin Drive and Pulaski Highway (US Highway 40), the area’s primary commercial and commuter corridor, with access to a combined daily traffic count of 26,500 vehicles. The property benefits from excellent frontage and visibility and is surrounded by a mix of local and national retailers, including Walmart,...

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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 and its subsidiaries operate as a quick-service restaurant...


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