Wendy's

465 South McLean Boulevard, Elgin, IL 60123

$2,678,571

Cap Rate 5.60%

Views: 112 DOM: 201 Updated: 11.02.24 Posted: 06.12.24 Status: Active

Summary

Price $2,678,571	Built/Renov 1991/2015	Tenant Wendy's
Cap Rate 5.60%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,175	Lease Start 12-01-2024	#Units 41
Price/SF $843.64	Expiration 11-30-2044	Tenant Type Fast Food/QSR
NOI $150,000	R. Term 19.11	Ownership Fee Simple
Rent/SF $47.24	Increases 10.0%/5/yrs	Pop 5Mi 170,122
Lot/AC 1.23	Options 4/5yrs/10%	AHHI 5Mi $119,118

Lease Highlights

20-year sale leaseback with 4 (5-year) options to extend at the close of escrow
The lease features 10% rental increases throughout the initial term and option period
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by Wenzak QSC (41 units backed)

Location Description

Wendy's is strategically located at the signalized, hard corner intersection of McLean Boulevard and Fleetwood Drive, with access to a combined daily traffic count of 25,300 vehicles. The property has immediate access to US Highway 20, with 53,500 VPD, and on/off ramps less than 500 feet north. Additionally, it is situated across from Elgin Community College, which has over 10,000 students...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Highway close
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Absolute NNN
25+ unit franchisee backed

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Links

Wendy's Wikipedia Wendy's Wikipedia Elgin, Illinois Zip Code 60123 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wendy's
Guarantor:Franchisee
Company:Wenzak QSC
# Units:41
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 :	10,050	94,652	165,493
2024 Total Population :	10,575	97,495	168,890
2024 Employed Civilian Pop :	5,365	51,717	90,502
2024 Total Businesses :	315	2,834	4,742
2024 Average Household Income :	$ 91,821	$ 112,145	$ 127,500
2024 Total Consumer Spending :	$ 300 M	$ 3396 M	$ 6620 M
2024 Median Age :	36	38	39
2024 Total Households :	3,689	34,516	59,567
2024 Pop Age 25+: Bachelor's Degree :	1,314	12,206	25,145
2024 Average Home Value :	$ 289,102	$ 312,641	$ 345,703

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N McLean Blvd	Weld Rd	2014	19,800	0.05 mi
Martin Luther King Jr Memorial Highway		2019	31,500	0.15 mi
US Hwy 20	Weld Rd	2007	53,500	0.19 mi
N McLean Blvd	Main Ln	2014	19,800	0.21 mi
Lillian St	S Clifton Ave	2014	8,000	0.34 mi
N McLean Blvd	Lillian St	2014	21,200	0.36 mi
US Hwy 20	N McLean Blvd	2013	31,100	0.37 mi
North McLean Boulevard	College Green Dr	2018	25,300	0.44 mi
South Street	Lillian St	2018	11,600	0.44 mi
North McLean Boulevard	Meyer St	2018	26,700	0.48 mi

Listing Broker

Randy Blankstein

The Boulder Group (HQ)

Contact

165 Listings
18424 Views
62 Sold

Jimmy Goodman

The Boulder Group (HQ)

Contact

168 Listings
19020 Views
65 Sold

Randy Blankstein

President of The Boulder Group, Blankstein is a senior commercial real estate executive with over 30 years of experience focused on advisory services in the single tenant net lease sector. Led The Boulder Group to a top 10 company national ranking for single tenant retail transactions by both CoStar and Real Capital Analytics from 2010-2021. Founded and managed net leased companies on both the advisory and principal sides that have been involved in over $7 billion in single tenant transaction

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Jimmy Goodman

Goodman is a partner at The Boulder Group, with over 15 years of experience in the investment real estate sector. His career began at PricewaterhouseCoopers in 2001 and afterward, he has been solely focused on investment real estate. He has been featured in multiple publications including Globe Street, Commercial Property Executive, Real Estate Forum and was a featured speaker at Real Share’s Net Lease Conference. He is a member of the International Council of Shopping Centers and received a Ba

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