Wendy's

2735 Reynolda Road, Winston-Salem, NC 27106

$2,276,000

Cap Rate 6.25%

Views: 83 DOM: 47 Updated: 09.05.24 Posted: 07.31.24 Status: Active

Summary

Price $2,276,000	Built/Renov 1994/2018	Tenant Wendy's
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,177	Lease Start 07-14-2014	#Units 390
Price/SF $716.40	Expiration 07-13-2034	Tenant Type Fast Food/QSR
NOI $142,238	R. Term 9.10	Ownership Fee Simple
Rent/SF $44.77	Increases 10.0%/5/yrs	Pop 5Mi 144,489
Lot/AC 0.90	Options 4/5yrs/10%	AHHI 5Mi $95,529

Lease Highlights

Wendy’s has 9+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by Meritage Hospitality Group LLC (390 units backed)

Location Description

Wendy's is strategically located on Reynolda Road, with access to 30,000 vehicles passing by daily. The property is situated about 1 mile from Wake Forest University, which has an enrollment of 9,121 students. It is directly across the street from Reynolda Manor shopping center, anchored by Lowe’s Foods, Pet Supplies Plus, and Planet Fitness. Additionally, the site is within walking distance...

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Key Features

Recent renovation
Dense retail corridor
Near major nationals
University college close
Strong tenant synergy
Top 100 MSA
Strong demographics
Absolute NNN
Long 10+ yr lease
Top franchise operator

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Links

Wendy's Wikipedia Wendy's Wikipedia Winston-Salem, North Carolina Zip Code 27106 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wendy's
Guarantor:Franchisee
Company:Meritage Hospitality Group, Inc.,
# Units:390
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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Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

178 Listings
19604 Views
22 Sold

Aron Cline

Berkeley Capital Advisors

Contact

171 Listings
18961 Views
20 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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