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Views: 112 Updated: 10.18.23 Posted: 08.19.23 Status: Inactive

Summary

Price $1,484,324
Built/Renov 2006
Tenant Wendy's
Cap Rate 5.26%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,288
Lease Start 12-14-2020
#Units 22
Price/SF $451.44
Expiration 12-31-2040
Tenant Type Fast Food/QSR
NOI $78,025
R. Term 16.3
Ownership Fee Simple
Rent/SF $23.73
Increases 10.0%/2/yrs
Pop 5Mi 14,417
Lot/AC 1.19
Options 5/5yrs/10%
AHHI 5Mi $128,274

Lease Highlights

  • Wendy’s has been operating in this location since 2006
  • Tenant has over 17 years remaining on its current lease term with 5 (5-year) options to renew
  • Lease features a 10% rental increase every 5 years throughout the inital term and at the start of each option
  • Absolute NNN lease | zero landlord responsibilities
  • Lease guaranteed by Wen-Gap West LLC (22 units)

Location Description

Wendy’s is strategically located at the signalized, hard corner intersection of South Creek One and Anderson Highway with access to a combined 29,100 vehicles per day. The subject site is situated on a 1.19 acre outparcel of South Creek Shopping Center which is anchored by Food Lion. Additional national/credit tenants in the area include Walmart Supercenter, Taco Bell, Starbucks, Advance Auto...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wendy's
  • Guarantor:Franchisee
  • Company:Wen-Gap West, LLC
  • # Units:22
  • 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
2028 Total Population : 420 5,621 13,562
2023 Total Population : 412 5,446 13,084
2023 Employed Civilian Pop : 203 2,757 6,739
2023 Total Businesses : 95 315 459
2023 Average Household Income : $ 133,781 $ 133,663 $ 139,696
2023 Total Consumer Spending : $ 17 M $ 240 M $ 578 M
2023 Median Age : 48 46 45
2023 Total Households : 157 2,130 4,914
2023 Pop Age 25+: Bachelor's Degree : 51 825 2,229
2023 Average Home Value : $ 393,056 $ 412,826 $ 426,296
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Urbine Road Fallen Timber 2018 360 0.33 mi
Urbine Road Fallen Timber 2020 340 0.34 mi
Anderson Highway Batterson Rd 2021 30,000 0.42 mi
Anderson Highway Batterson Rd 2018 29,000 0.42 mi
Batterson Road Anderson Hwy 2021 1,100 0.54 mi
Batterson Road Judes Ferry Rd 2020 950 0.54 mi
SR 612 Carter Gallier Blvd 2020 600 0.55 mi
Batterson Road Judes Ferry Rd 2018 1,600 0.57 mi
R-VA072SC01183NB Hollow Log Trl 2020 150 0.57 mi
Old Church Rd Judes Ferry Rd 2008 640 0.70 mi

Listing Broker

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