loader
Join Free
Views: 106 DOM: 179 Updated: 10.31.24 Posted: 07.04.24 Status: Active

Summary

Price $2,846,000
Built/Renov 1999
Tenant Wendy's
Cap Rate 4.78%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,450
Lease Start 06-01-2024
#Units 300
Price/SF $824.93
Expiration 06-30-2034
Tenant Type Fast Food/QSR
NOI $136,057
R. Term 9.6
Ownership Fee Simple
Rent/SF $39.44
Increases 8.0%/5/yrs
Pop 5Mi 67,588
Lot/AC 1.34
Options 4/5yrs/8%
AHHI 5Mi $83,399

Lease Highlights

  • Wendy’s recently executed a new 10-year lease extension with 4 (5-year) options to extend
  • The lease features 8% rental increases at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Double sided electronic billboard with a 24-year ground lease | 10% billboard escalations every 7 years
  • Lease guaranteed by WENDAB Associates (300 units backed)

Location Description

Wendy’s is strategically located on Sherwood Way, with access to 21,549 vehicles passing by daily. The property features a double-sided electronic billboard with outstanding visibility in a highly desirable location. It is a pad site to a Walmart Supercenter and Lowe’s Home Improvement. Additionally, an H-E-B grocery store is directly across the street, and just up the street are other...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wendy's
  • Guarantor:Franchisee
  • Company:WENDAB Associates
  • # Units:300
  • 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...


...

Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 7,827 38,614 67,658
2024 Total Population : 7,543 38,130 67,075
2024 Employed Civilian Pop : 4,062 20,090 35,450
2024 Total Businesses : 289 1,309 2,906
2024 Average Household Income : $ 104,617 $ 99,672 $ 92,202
2024 Total Consumer Spending : $ 321 M $ 1424 M $ 2277 M
2024 Median Age : 38 37 37
2024 Total Households : 3,497 16,271 27,961
2024 Pop Age 25+: Bachelor's Degree : 1,402 6,396 9,410
2024 Average Home Value : $ 288,403 $ 274,375 $ 263,147
*ESRI data is presented for informational purposes only

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity