Wendy's

2735 Reynolda Road, Winston-Salem, NC 27106

$2,276,000

Cap Rate 6.25%

Views: 115 DOM: 115 Updated: 10.03.24 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 9.7	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 increases 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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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	8,615	58,486	149,864
2024 Total Population :	8,445	58,024	146,183
2024 Employed Civilian Pop :	4,070	25,769	65,851
2024 Total Businesses :	298	1,922	6,936
2024 Average Household Income :	$ 69,806	$ 107,004	$ 100,865
2024 Total Consumer Spending :	$ 256 M	$ 2182 M	$ 5482 M
2024 Median Age :	32	36	38
2024 Total Households :	4,096	23,097	61,621
2024 Pop Age 25+: Bachelor's Degree :	1,556	10,003	24,990
2024 Average Home Value :	$ 303,563	$ 394,060	$ 374,956

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Reynolda Road	Woods Rd	2022	31,793	0.16 mi
	Fairlawn Ct	2022	14,727	0.23 mi
Fairlawn Drive	Fairlawn Ct	2019	12,500	0.23 mi
NC 67	Ferncliff Dr	2022	23,485	0.25 mi
	Crowne Forest Dr	2022	32,883	0.33 mi
Silas Creek Parkway	Crowne Forest Dr	2019	35,000	0.34 mi
Reynolda Road	Briarcliff Rd	2022	27,193	0.34 mi
Ransom Road	Saint Johns Pl	2022	3,190	0.41 mi
Silas Creek Pkwy	Fairlawn Dr	2003	28,000	0.41 mi
Polo Road	Reynolda Rd	2022	14,860	0.42 mi

Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
28672 Views
23 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
27657 Views
21 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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