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$ 2,127,000

Wendy’s

Fast Food/QSR  

Cap Rate 5.45% | SF 3,254 | Term 10.4
Niagara Falls, NY 14304
  • Signalized intersection

  • Recent renovation

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Business growth area

  • Long 20+ yr lease

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Absolute NNN Wendy’s with corporate guarantee and no landlord maintenance responsibilities

  • Long-term lease through March 2036 with two 5-year renewal options

  • 10% rent increases every 5 years ensuring stable income growth

  • Recently remodeled in 2024 showing strong tenant commitment and modern prototype design

  • Positioned at a signalized hard corner off Interstate 190 with 47,000 combined VPD

  • Large 1.45-acre parcel providing excellent visibility and access from Porter Road

  • Located across from top-performing Aldi and new 12-pump Quicklee’s gas station

  • Offered at $2,127,000 with 5.45% cap rate and $115,922 annual NOI

  • Tenant Wendy's
  • Guarantor Corp T and Rated
  • #Units 7,240
  • Moody's/S&P B3/ B+
  • Stock NASDAQ: WEN

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company and its subsidiaries operate as a quick-service restaurant company. It operates through three segments: Wendy’s U.S., Wendy’s International, and Global Real Estate & Development. The company operates, develops, and franchises a system of quick-service restaurants specializing in hamburger sandwiches. As of March 2023, they operate approximately 415 company-owned restaurants and 6,825 franchised restaurants worldwide. Wendy’s has a credit rating of B+ from Standard and Poor’s and a long-term rating of B3 from Moody’s. The Wendy's Company (NASDAQ: WEN) is an American holding company for the major fast food chain Wendy's. In 2023, total revenue amounted to over $2.18B with a current market cap of $3.78B. They are headquartered in Dublin, OH. 

...

$ 2,510,000

Wendy’s

Fast Food/QSR  

Cap Rate 5.50% | SF 2,010 | Term 0.00
Evans, GA 30809
  • New construction

  • Build to suit

  • Major thoroughfare

  • Dense retail corridor

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Brand new 2025 construction with modern Wendy’s prototype design

  • 20-year absolute NNN lease with zero landlord responsibilities

  • 7.5% rent increases every five years during base and option terms

  • Leased to experienced multi-unit franchisee JAI Augusta, LLC

  • Publix-anchored shopping center outparcel on busy Washington Road

  • Located in affluent Augusta MSA suburb with strong population growth

  • Average household income exceeds $153,000 within five miles

  • Fee simple ownership offering truly passive investment opportunity

  • Tenant Wendy's
  • Guarantor Corp T and Rated
  • #Units 7,240
  • Moody's/S&P B3/ B+
  • Stock NASDAQ: WEN

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company and its subsidiaries operate as a quick-service restaurant company. It operates through three segments: Wendy’s U.S., Wendy’s International, and Global Real Estate & Development. The company operates, develops, and franchises a system of quick-service restaurants specializing in hamburger sandwiches. As of March 2023, they operate approximately 415 company-owned restaurants and 6,825 franchised restaurants worldwide. Wendy’s has a credit rating of B+ from Standard and Poor’s and a long-term rating of B3 from Moody’s. The Wendy's Company (NASDAQ: WEN) is an American holding company for the major fast food chain Wendy's. In 2023, total revenue amounted to over $2.18B with a current market cap of $3.78B. They are headquartered in Dublin, OH. 

...

$ 2,190,476

Wendy’s

Fast Food/QSR  

Cap Rate 5.25% | SF 2,326 | Term 20.0
Cleveland, TN 37311
  • Signalized intersection

  • Hard corner intersection

  • Major thoroughfare

  • Near major nationals

  • Strong demographics

  • Income tax free state

  • Brand new lease

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Absolute NNN lease with zero landlord responsibilities

  • Strong Wendy’s franchisee with over 76 operating units

  • Hard corner signalized intersection with 28,800 vehicles per day

  • Full Image Activation Remodel scheduled for completion by 2025

  • Tenant operating at this location for over 15 years

  • New 20-year lease commencing December 2025 with 7.5% rent increases every five years

  • Free-standing 2,326 SF restaurant on a 0.59-acre parcel

  • Located directly off Interstate 75 in a high-traffic retail corridor

  • Tenant Wendy's
  • Guarantor Corp T and Rated
  • #Units 7,240
  • Moody's/S&P B3/ B+
  • Stock NASDAQ: WEN

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company and its subsidiaries operate as a quick-service restaurant company. It operates through three segments: Wendy’s U.S., Wendy’s International, and Global Real Estate & Development. The company operates, develops, and franchises a system of quick-service restaurants specializing in hamburger sandwiches. As of March 2023, they operate approximately 415 company-owned restaurants and 6,825 franchised restaurants worldwide. Wendy’s has a credit rating of B+ from Standard and Poor’s and a long-term rating of B3 from Moody’s. The Wendy's Company (NASDAQ: WEN) is an American holding company for the major fast food chain Wendy's. In 2023, total revenue amounted to over $2.18B with a current market cap of $3.78B. They are headquartered in Dublin, OH. 

...

$ 2,545,454

Wendy’s

Fast Food/QSR  

Cap Rate 5.50% | SF 2,243 | Term 17.12
Sweetwater, TN 37874
  • New construction

  • Build to suit

  • Major thoroughfare

  • Dense retail corridor

  • Top 100 MSA

  • Strong demographics

  • Long 20+ yr lease

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Brand new 2023 construction Wendy’s with drive-thru in Sweetwater, Tennessee

  • 20-year absolute NNN lease with no landlord responsibilities

  • Lease commenced November 1, 2023, expiring October 31, 2043

  • 7.5% rent increases every five years including option periods

  • Four five-year renewal options providing long-term income stability

  • Strong franchisee operator with over 76 Wendy’s locations nationwide

  • Located along New Highway 68 with traffic exceeding 20,000 vehicles daily

  • Positioned across from Ingles Market, Rural King, and Dollar Tree within Knoxville MSA

  • Tenant Wendy's
  • Guarantor Corp T and Rated
  • #Units 7,240
  • Moody's/S&P B3/ B+
  • Stock NASDAQ: WEN

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company and its subsidiaries operate as a quick-service restaurant company. It operates through three segments: Wendy’s U.S., Wendy’s International, and Global Real Estate & Development. The company operates, develops, and franchises a system of quick-service restaurants specializing in hamburger sandwiches. As of March 2023, they operate approximately 415 company-owned restaurants and 6,825 franchised restaurants worldwide. Wendy’s has a credit rating of B+ from Standard and Poor’s and a long-term rating of B3 from Moody’s. The Wendy's Company (NASDAQ: WEN) is an American holding company for the major fast food chain Wendy's. In 2023, total revenue amounted to over $2.18B with a current market cap of $3.78B. They are headquartered in Dublin, OH. 

...

$ 2,430,000

Wendy’s

Fast Food/QSR  

Cap Rate 5.35% | SF 2,864 | Term 20.0
Summerville, SC 29485
  • Signalized intersection

  • Hard corner intersection

  • High traffic 50M+ VPD

  • Major thoroughfare

  • Top 100 MSA

  • Strong demographics

  • Long 20+ yr lease

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • 20-year absolute NNN lease with zero landlord responsibilities

  • 7.5% rent increases every five years during lease and options

  • Operated by strong franchisee WENJAI Restaurant Group with 76+ units

  • Fully remodeled in 2025 offering modern Wendy’s prototype design

  • Located on Dorchester Road at a hard corner signalized intersection

  • Outparcel to high-performing Lowe’s Foods with 607K+ annual visitors

  • Surrounded by Walmart and dense residential growth in Summerville SC

  • Fee simple ownership providing stable long-term cash flow

  • Tenant Wendy's
  • Guarantor Corp T and Rated
  • #Units 7,240
  • Moody's/S&P B3/ B+
  • Stock NASDAQ: WEN

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company and its subsidiaries operate as a quick-service restaurant company. It operates through three segments: Wendy’s U.S., Wendy’s International, and Global Real Estate & Development. The company operates, develops, and franchises a system of quick-service restaurants specializing in hamburger sandwiches. As of March 2023, they operate approximately 415 company-owned restaurants and 6,825 franchised restaurants worldwide. Wendy’s has a credit rating of B+ from Standard and Poor’s and a long-term rating of B3 from Moody’s. The Wendy's Company (NASDAQ: WEN) is an American holding company for the major fast food chain Wendy's. In 2023, total revenue amounted to over $2.18B with a current market cap of $3.78B. They are headquartered in Dublin, OH. 

...

$ 1,807,650

Wendy’s

Fast Food/QSR  

Cap Rate 4.85% | SF 2,485 | Term 14.12
Fort Walton Beach, FL 32548
  • Signalized intersection

  • Hard corner intersection

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Long 20+ yr lease

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Absolute NNN lease with zero landlord responsibilities and over 15 years remaining on base term

  • Freestanding 2,485 SF Wendy’s building with drive-thru on 0.36-acre lot

  • Located at hard corner signalized intersection along major Florida Panhandle thoroughfare

  • Renovated in 2014 and originally built in 2004 offering excellent visibility and access

  • Guaranteed by Wendelta, a strong 200+ unit Wendy’s franchisee operator

  • Scheduled 7.5% rent increases every 5 years including option periods

  • Fee simple ownership providing long-term passive investment stability

  • Outparcel to Winn-Dixie and Ross Dress for Less anchored shopping center

  • Tenant Wendy's
  • Guarantor Corp T and Rated
  • #Units 7,240
  • Moody's/S&P B3/ B+
  • Stock NASDAQ: WEN

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company and its subsidiaries operate as a quick-service restaurant company. It operates through three segments: Wendy’s U.S., Wendy’s International, and Global Real Estate & Development. The company operates, develops, and franchises a system of quick-service restaurants specializing in hamburger sandwiches. As of March 2023, they operate approximately 415 company-owned restaurants and 6,825 franchised restaurants worldwide. Wendy’s has a credit rating of B+ from Standard and Poor’s and a long-term rating of B3 from Moody’s. The Wendy's Company (NASDAQ: WEN) is an American holding company for the major fast food chain Wendy's. In 2023, total revenue amounted to over $2.18B with a current market cap of $3.78B. They are headquartered in Dublin, OH. 

...

$ 950,000

Sonic

Fast Casual/Rest.  

Cap Rate 5.15% | SF 1,376 | Term 3.90
Pensacola, FL 32504
  • In location for years

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Long operation history

  • Absolute NNN

  • Over 2000 units backed

  • Corporate Guarantee

  • ...
  • Sonic operating at this location for about 30 years

  • Absolute NNN lease with tenant responsible for roof and structure

  • Lease runs through July 2029 with 3.8 years remaining

  • No renewal options remaining on current lease

  • Annual rent $48,893 significantly below market rate

  • 1,376 SF building on 0.65 acre lot

  • Strong traffic count of 27,500 vehicles daily on N 9th Ave

  • Surrounded by major national retailers and Pensacola State College nearby

  • Tenant Sonic
  • Guarantor Corp Rated
  • #Units 3,514
  • Moody's/S&P B2/ B+
  • Stock Private

Sonic Corporation, founded as Sonic Drive-In and more commonly known as Sonic or "The Drive-In," is an American drive-in fast food restaurant chain owned by Inspire Brands, the parent company of Arby's, Dunkin Donuts, and Buffalo Wild Wings. Sonic's menu consists of hamburgers, french fries, onion rings, corn dogs, chili dogs, and breakfast toaster sandwiches. As of 2023, over 3,500 Sonic restaurants are in 47 US states. Sonic has operated since the early 1950s, and before its acquisition by Inspire Brands, its stock was publicly traded. Inspire acquired Sonic Drive-In for $2.3B in the Fall of 2018. Most restaurants are owned and operated by franchisees, and Sonic Drive-In’s total 2021 revenue was $5.83B. Corporate headquarters are in Oklahoma City, OK.


Inspire Brands, Inc. is a privately held holding company and the world's 2nd largest restaurant owner and franchisor. Inspire Brands was formed when Arby's Restaurant Group merged with Buffalo Wild Wings in early 2018. Inspire Brands is majority-owned by affiliates of Roark Capital Group, a private equity firm. Roark’s focus is consumer, multi-unit, and franchise brands. Roark Capital Group has over $33B in assets. The Inspire Brands family of restaurants includes Rusty Taco, Sonic, Jimmy John’s, Mister Donut, Baskin-Robbins, and Dunkin Donuts. Inspire manages over 32,600 restaurants, and 650,000 company and franchise members, and has over $32.5B in global system sales. Inspire Brands and Roark Capital are headquartered in Sandy Springs, GA.

...

$ 5,700,000

Burger King

Fast Food/QSR  

Cap Rate 4.35% | SF 2,400 | Term 9.50
Los Angeles, CA 90001
  • Signalized intersection

  • Hard corner intersection

  • High traffic 50M+ VPD

  • Major thoroughfare

  • Top 100 MSA

  • Strong demographics

  • Long operation history

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Premium Burger King at signalized hard corner Florence Ave and Alameda St in Huntington Park

  • 9.5 years remaining on absolute triple net lease with annual CPI increases

  • Offered at $5,700,000 with 4.35 percent cap rate and $247,680 NOI year one

  • Built in 1989 with 2,400 square feet on 0.57 acre parcel

  • Tenant is Los Angeles Burgers LLC, experienced Burger King franchisee operator

  • Renewal option includes one 10 year extension opportunity

  • Dense demographics with 400,000 plus residents within three miles and $57,200 median income

  • High traffic intersection with over 65,000 vehicles per day visibility

  • Tenant Los Angeles Burgers, LLC
  • Guarantor Corp T and Rated
  • #Units 19,789
  • Stock NYSE: QSR

Burger King is the second-largest fast-food hamburger chain in the world. Their menu features their signature Whopper and Whopper Jr. hamburgers, in addition to chicken sandwiches, breakfast sandwiches, and platters, sides, and beverages. Founded in 1954 in Jacksonville, FL as Insta-Burger King, the chain is now a subsidiary of Toronto-based Restaurant Brands International. Today, Burger King has 19,384 locations worldwide and global sales of over $27.02B. Burger King Corporation is headquartered in Miami, FL.

 

Restaurant Brands International Inc. (NYSE: QSR), or RBI, is an American-Canadian-based multinational fast food holding company, with over 30,000 restaurants operating in over 100 countries. The company’s brands include Burger King, Tim Horton’s, and Firehouse Subs. The holding company’s 2022 revenue was reported at $7.02 B an 8% increase to the prior year. The company has a market cap of $35.96B and a long-term credit rating of BB from Standard & Poor’s. RBI is headquartered in Toronto, Ontario.

...

$ 1,739,130

Arby’s

Fast Food/QSR  

Cap Rate 5.75% | SF 2,918 | Term 0.00
Olive Branch, MS 38654
  • New construction

  • Oversized lot

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Personal guarantee

  • Top franchise operator

  • ...
  • Brand new 20-year absolute NNN lease commencing at close of escrow

  • Freestanding Arby’s with drive-thru built in 2018

  • Located on Goodman Rd with 36,506 vehicles per day traffic count

  • Surrounded by Walmart, Kroger, Lowe’s, Walgreens, McDonald’s, and other national retailers

  • Strong demographics with 55,557 residents within 5 miles and $109,604 average household income

  • Tenant is Hungry Pig Restaurant Operations, a 20-unit multi-brand franchisee

  • Four 5-year renewal options extend potential lease term to 40 years

  • 10 percent rental increases every 5 years provide predictable income growth

  • Tenant Arby's
  • Guarantor Corp Rated
  • #Units 3,402
  • Moody's/S&P B2/ B+
  • Stock Private

Arby’s is an American fast-food restaurant chain and the first nationally franchised sandwich restaurant brand. Founded in 1964 in Boardman, OH, the chain is well known for slow-roasted, sliced roast beef sandwiches. In 2011, Roark Capital Group acquired 81.5% of Arby's Restaurant Group, Inc. from The Wendy’s Company. In 2018, Arby's Restaurant Group acquired Buffalo Wild Wings and Rusty Taco for $2.4B; as part of the acquisition the parent company was renamed Inspire Brands. Late in 2018, the newly formed Inspire Brands purchased the remaining stake in Arby’s for $430M. Arby's Restaurant Group remains the franchisor of the Arby's brand. Today, the chain has over 3,400 restaurants (2,200+ franchised units) spanning 9 countries (180+ international units) and employs over 80,000 people.


Inspire Brands, Inc. is a privately held holding company and the world's 2nd largest restaurant owner and franchisor. Inspire Brands was formed when Arby's Restaurant Group merged with Buffalo Wild Wings in early 2018. Inspire Brands is majority-owned by affiliates of Roark Capital Group, a private equity firm. Roark’s focus is consumer, multi-unit, and franchise brands. Roark Capital Group has over $33B in assets. The Inspire Brands family of restaurants includes Rusty Taco, Sonic, Jimmy John’s, Mister Donut, Baskin-Robbins, and Dunkin Donuts. Inspire manages over 32,600 restaurants, and 650,000 company and franchise members, and has over $32.5B in global system sales. Inspire Brands and Roark Capital are headquartered in Sandy Springs, GA.

...

$ 724,000

Rally’s Drive-Thru Shops

Fast Food/QSR  

Cap Rate 7.75% | SF 1,763 | Term 0.00
Flint, MI 48532
  • Hard corner intersection

  • In location for years

  • Major thoroughfare

  • Dense retail corridor

  • Strong demographics

  • Business growth area

  • Long operation history

  • Absolute NNN

  • Over 2000 units backed

  • Personal guarantee

  • ...
  • 4,568 SF multi-tenant retail building built in 2007

  • 100 percent leased to Rally’s, Great Clips, Hello Nails & Lashes

  • All tenants on NNN lease structures with minimal landlord responsibilities

  • Rally’s lease expires 2026 with one 5-year renewal option

  • Great Clips lease expires 2027 with no renewal option

  • Hello Nails lease runs to 2030 with 3 percent annual rent increases

  • Net Operating Income of $56,081 with 7.75 percent cap rate

  • Located at high-traffic Corunna and Linden intersection with 34,200 vehicles per day

  • Tenant Rally's
  • Guarantor Corporate
  • #Units 878
  • Stock Private

Rally’s Drive-In Restaurants is part of Checkers Drive-In Restaurants, Inc., and is one of the largest chains of double drive-thru restaurants in the United States. The company currently operates 878 Checkers and Rally’s restaurants in 28 states and the District of Columbia. The chains specialize in hamburgers, hot dogs, french fries, and milkshakes. Rally’s Drive-In opened its first restaurant in Louisville, Kentucky in 1985. Checkers Drive-In was founded in 1986 in Mobile, Alabama. In 1999, the two concepts merged into a single double drive-thru burger chain. Most locations specialize in carryout service with drive-thru and walk-up windows available, but no indoor seating. In 2017, the Rally’s/Checker’s brand was acquired by Oak Hill Capital Partners.  The company is headquartered in Tampa, Florida.

 

Oak Hill Capital Partners is a private equity firm headquartered in New York City. The firm currently has more than $19B of committed capital from entrepreneurs, endowments, foundations, corporations, pension funds and global financial institutions.

...

$ 3,869,000

Panera Bread

Fast Casual/Rest.  

Cap Rate 4.90% | SF 2,079 | Term 14.10
Hutto, TX 78634
  • New construction

  • Build to suit

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Over 2000 units backed

  • Corporate Guarantee

  • ...
  • Brand new 2025 construction with drive-thru in fast-growing Austin suburb

  • Absolute NNN lease with tenant responsible for roof and structure

  • 15-year corporate guaranteed lease by Panera, LLC

  • 8% rental increases every five years with three 5-year options

  • Outparcel to Home Depot and across from Lowe’s in retail hub

  • 2,479 SF building on oversized 0.85-acre lot

  • Five-mile trade area population over 109,000 with $146,041 average household income

  • Offered at $3,869,000 price with 4.90% cap rate and $189,600 NOI

  • Tenant Panera Bread
  • Guarantor Corporate
  • #Units 2,200
  • Stock Private

Panera Bread Company is an American bakery-café fast-casual restaurant chain, offering bakery items, pasta, salads, sandwiches, soups, and specialty drinks. Originally founded in 1987 as Paradise Bakery & Cafe, the company rebranded to Panera Bread in 2015. Today, Panera operates over 2,200 bakery-cafés under the Panera Bread or Saint Louis Bread Company brands in 48 states and Washington D.C., and in Ontario, Canada. Panera was acquired by JAB Holding Co. in 2017 for $7.5 billion, making it a private company. The company continues to be a leader in fast-casual dining, expanding its reach and technological innovations, such as AI-driven ordering and digital enhancements. Panera Bread is currently headquartered in Sunset Hills, Missouri. In 2023, the company's annual revenue was estimated to be around $6 billion, making it one of the largest fast-casual restaurant brands in the U.S.​

JAB Holding Company, headquartered in Luxembourg, is a German conglomerate with investments in various industries, including consumer goods, luxury, coffee, and fast food. JAB owns brands such as Caribou Coffee, Einstein Bros. Bagels, Krispy Kreme, Peet's Coffee, and Pret A Manger, managing over $50 billion in capital.

...

$ 2,747,000

Wendy’s

Fast Food/QSR  

Cap Rate 4.55% | SF 2,228 | Term 14.11
Wesley Chapel, FL 33545
  • New construction

  • Extensive TI’s

  • Near major nationals

  • Strategically located

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • New 15-year absolute NNN ground lease with 10% increases every 5 years

  • Corporate guarantee from Wendy’s Properties, LLC, NASDAQ: WEN

  • Price $2,747,000 with NOI $125,000 and 4.55% cap rate

  • New construction Wendy’s prototype building delivering October/November 2025

  • Situated in $100M+ Epperson master-planned community with 4,500+ homes

  • Strong demographics with $108,538 average household income within 5 miles

  • Easy access to I-75 with 94,500 vehicles per day

  • Adjacent to Publix, Chick-fil-A, Starbucks, Circle K and new residential growth

  • Tenant Wendy's
  • Guarantor Corp T and Rated
  • #Units 7,240
  • Moody's/S&P B3/ B+
  • Stock NASDAQ: WEN

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company and its subsidiaries operate as a quick-service restaurant company. It operates through three segments: Wendy’s U.S., Wendy’s International, and Global Real Estate & Development. The company operates, develops, and franchises a system of quick-service restaurants specializing in hamburger sandwiches. As of March 2023, they operate approximately 415 company-owned restaurants and 6,825 franchised restaurants worldwide. Wendy’s has a credit rating of B+ from Standard and Poor’s and a long-term rating of B3 from Moody’s. The Wendy's Company (NASDAQ: WEN) is an American holding company for the major fast food chain Wendy's. In 2023, total revenue amounted to over $2.18B with a current market cap of $3.78B. They are headquartered in Dublin, OH. 

...

$ 2,364,600

Wendy’s

Fast Food/QSR  

Cap Rate 6.00% | SF 3,378 | Term 12.10
Caledonia, MI 49316
  • New construction

  • Oversized lot

  • Major thoroughfare

  • Strategically located

  • Top 100 MSA

  • Strong demographics

  • Long 20+ yr lease

  • Absolute NNN

  • Traded and rated company

  • Over 2000 units backed

  • ...
  • New 2017 construction with drive-thru on 1.59-acre parcel

  • Absolute NNN lease with zero landlord responsibilities

  • 20-year lease term with 13 years remaining

  • Operated by Meritage Hospitality Group, a 388+ unit franchisee

  • Publicly traded franchisee guarantor ensures stability

  • 1.25% annual rent increases built into lease

  • Net operating income of $141,876 with 6.00% cap rate

  • Six 5-year renewal options available for tenant

  • Tenant Wendy's
  • Guarantor Corp T and Rated
  • #Units 7,240
  • Moody's/S&P B3/ B+
  • Stock NASDAQ: WEN

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company and its subsidiaries operate as a quick-service restaurant company. It operates through three segments: Wendy’s U.S., Wendy’s International, and Global Real Estate & Development. The company operates, develops, and franchises a system of quick-service restaurants specializing in hamburger sandwiches. As of March 2023, they operate approximately 415 company-owned restaurants and 6,825 franchised restaurants worldwide. Wendy’s has a credit rating of B+ from Standard and Poor’s and a long-term rating of B3 from Moody’s. The Wendy's Company (NASDAQ: WEN) is an American holding company for the major fast food chain Wendy's. In 2023, total revenue amounted to over $2.18B with a current market cap of $3.78B. They are headquartered in Dublin, OH. 

...

$ 2,546,656

Dairy Queen

Fast Food/QSR  

Cap Rate 6.25% | SF 3,247 | Term 2027.3
Broken Arrow, OK 74012
  • Recent renovation

  • In location for years

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Business growth area

  • Brand new lease

  • Absolute NNN

  • Over 2000 units backed

  • Top franchise operator

  • ...
  • Recently remodeled in 2024 after original 2005 construction

  • Absolute NNN lease with zero landlord responsibilities

  • 25-year lease term with 22 years remaining

  • Lease guaranteed by franchisee DND Central, Inc. with 11 units

  • 10% rent increase in 2027 then 2% annually

  • Four five-year renewal options included in lease

  • Located on Kenosha Street with 29,000 vehicles per day

  • Net operating income of $159,166 with 6.25% cap rate

  • Tenant Dairy Queen
  • Guarantor Corp T and Rated
  • #Units 7,700
  • Moody's/S&P Aa2/ AA
  • Stock NYSE: BRK.A

$ 3,235,000

Chick-fil-A

Fast Casual/Rest.  

Cap Rate 4.25% | SF 5,167 | Term 13.10
Lewis Center, OH 43035
  • New construction

  • Signalized intersection

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Over 2000 units backed

  • Corporate Guarantee

  • ...
  • Brand new 2024 construction with dual drive-thru lanes

  • Absolute triple-net ground lease with 15-year term

  • Corporate guaranteed lease by Chick-fil-A, Inc

  • 10% rent increases every 5 years with renewal options

  • Prime signalized hard corner location along Columbus Pike

  • Surrounded by national retailers including Walmart, Meijer, and Home Depot

  • Affluent trade area with $155,595 average household income within 5 miles

  • Net operating income of $137,500 with 4.25% cap rate

  • Tenant Chick-fil-A
  • Guarantor Corporate
  • #Units 3,059

Chick-fil-A is one of the largest American fast-food restaurant chains, and the largest specializing in chicken sandwiches. Chick-fil-A was first opened in 1946 in Atlanta, Georgia, under the name Dwarf Grill, by its founder Samuel Truett Cathy, a devout Southern Baptist, and many of the company’s values are influenced by the Christian religious beliefs of its late founder. As of January 2024, the company operates more than 3,059 locations. The chain has locations in 47 states, the District of Columbia, and Puerto Rico, with plans for a future expansion into Hawaii. The company also has operations in Canada. Chick-fil-A Inc. reported record revenue for 2023 of $21.6B, a significant increase from the previous year’s total of $18.8B. It is a private company owned and operated by the two sons of S. Truett Cathy and is headquartered in Atlanta, GA.

...

$ 1,625,000

Checkers

Fast Food/QSR  

Cap Rate 6.50% | SF 786 | Term 16.8
Augusta, GA 30909
  • Hard corner intersection

  • In location for years

  • Major thoroughfare

  • Near major nationals

  • Dense 100M+ pop 5 mi

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Long 20+ yr lease

  • Corporate Guarantee

  • ...
  • Freestanding Checkers restaurant on Wrightsboro Road in Augusta, Georgia

  • Absolute NNN lease with zero landlord responsibilities

  • 20-year lease term commenced August 2022 with 17 years remaining

  • 10 percent rent increases every five years with four five-year renewal options

  • Strong franchisee operator guarantee backed by 21-unit Checkers franchisee

  • Building size 786 square feet on 0.46-acre lot

  • Annual net operating income of $105,600 with 6.50% cap rate

  • Located in major retail corridor adjacent to Augusta Mall and national retailers

  • Tenant Checkers
  • Guarantor Corporate
  • #Units 878
  • Stock Private

Checkers is a drive-in chain that offers hamburgers, hot dogs, french fries, milkshakes, and other fast food products through its chain of restaurants under the brand names Checkers and Rally's Hamburgers. Originally different companies, Checkers was founded in 1986 in Mobile, AL, while Rally’s was founded in 1985 in Louisville, KY. In 1999, CKE Restaurants decided to sell the Rally’s brand to Checkers which merged the two drive-through chains into one single entity. Most recently, Checkers was sold to Oak Hill Capital Partners in March of 2017, where it is currently still under private ownership. The names used are currently being split by regions, with Checkers being used mainly in the Southeast along with the Northeast, while the Rally’s brand is used in the Midwest and California. Headquartered in Tampa, FL, Checkers currently has over 800 locations.

 

Oak Hill Capital Partners is a private equity firm with more than $19B of committed capital from entrepreneurs, endowments, foundations, corporations, pension funds, and global financial institutions. Their current portfolio includes the American Veterinary Group, Checkers Drive-In Restaurants, EPIC Insurance, and many more. Founded in 1986, the firm has completed over 100 private equity transactions and is headquartered in New York City, New York.

...

$ 1,398,000

Arby’s Restaurant

Fast Food/QSR  

Cap Rate 5.90% | SF 2,321 | Term 9.4
Orland Park, IL 60462
  • Hard corner intersection

  • In location for years

  • Major thoroughfare

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Affluent AHHI $100K 5 Mi

  • Long operation history

  • Absolute NNN

  • ...
  • Freestanding Arby’s restaurant on Harlem Avenue in Orland Park, Illinois

  • Absolute NNN lease with zero landlord responsibilities

  • Lease term through March 2035 with five 5-year options

  • 10 percent fixed rent increases every five years

  • Renovated in 2020 with updated drive-thru and signage

  • 2,321 square feet on 0.67-acre lot with 31 parking spaces

  • Annual net operating income of $82,500 with 5.90% cap rate

  • Surrounded by Meijer, Home Depot, Hobby Lobby, Menards, and other national retailers

  • Tenant Arby's
  • Guarantor Corp Rated
  • #Units 3,402
  • Moody's/S&P B2/ B+
  • Stock Private

Arby’s is an American fast-food restaurant chain and the first nationally franchised sandwich restaurant brand. Founded in 1964 in Boardman, OH, the chain is well known for slow-roasted, sliced roast beef sandwiches. In 2011, Roark Capital Group acquired 81.5% of Arby's Restaurant Group, Inc. from The Wendy’s Company. In 2018, Arby's Restaurant Group acquired Buffalo Wild Wings and Rusty Taco for $2.4B; as part of the acquisition the parent company was renamed Inspire Brands. Late in 2018, the newly formed Inspire Brands purchased the remaining stake in Arby’s for $430M. Arby's Restaurant Group remains the franchisor of the Arby's brand. Today, the chain has over 3,400 restaurants (2,200+ franchised units) spanning 9 countries (180+ international units) and employs over 80,000 people.


Inspire Brands, Inc. is a privately held holding company and the world's 2nd largest restaurant owner and franchisor. Inspire Brands was formed when Arby's Restaurant Group merged with Buffalo Wild Wings in early 2018. Inspire Brands is majority-owned by affiliates of Roark Capital Group, a private equity firm. Roark’s focus is consumer, multi-unit, and franchise brands. Roark Capital Group has over $33B in assets. The Inspire Brands family of restaurants includes Rusty Taco, Sonic, Jimmy John’s, Mister Donut, Baskin-Robbins, and Dunkin Donuts. Inspire manages over 32,600 restaurants, and 650,000 company and franchise members, and has over $32.5B in global system sales. Inspire Brands and Roark Capital are headquartered in Sandy Springs, GA.

...

$ 2,110,000

Sonic Drive-In

Fast Casual/Rest.  

Cap Rate 6.25% | SF 1,622 | Term 9.20
Ashland, VA 23005
  • Signalized intersection

  • Hard corner intersection

  • Major thoroughfare

  • Strategically located

  • Top 100 MSA

  • Strong demographics

  • Long operation history

  • Absolute NNN

  • Over 2000 units backed

  • 100+ unit franchisee backed

  • ...
  • Sonic Drive-In built in 2009 with long-term operating history in Ashland VA

  • Absolute NNN lease with tenant responsible for all expenses including roof and structure

  • Lease runs through November 2034 with four five-year renewal options

  • 1.5% annual rent increases provide steady income growth for investors

  • Operated by Saja Restaurant Group, a top Sonic franchisee with 150+ locations

  • Prime hard corner location at Sliding Hill Road and Washington Highway near I-95

  • Five-mile trade area includes 90,375 residents with $126,733 average household income

  • Offered at $2,110,000 with NOI of $131,880 and 6.25% cap rate

  • Tenant Sonic
  • Guarantor Corp Rated
  • #Units 3,514
  • Moody's/S&P B2/ B+
  • Stock Private

Sonic Corporation, founded as Sonic Drive-In and more commonly known as Sonic or "The Drive-In," is an American drive-in fast food restaurant chain owned by Inspire Brands, the parent company of Arby's, Dunkin Donuts, and Buffalo Wild Wings. Sonic's menu consists of hamburgers, french fries, onion rings, corn dogs, chili dogs, and breakfast toaster sandwiches. As of 2023, over 3,500 Sonic restaurants are in 47 US states. Sonic has operated since the early 1950s, and before its acquisition by Inspire Brands, its stock was publicly traded. Inspire acquired Sonic Drive-In for $2.3B in the Fall of 2018. Most restaurants are owned and operated by franchisees, and Sonic Drive-In’s total 2021 revenue was $5.83B. Corporate headquarters are in Oklahoma City, OK.


Inspire Brands, Inc. is a privately held holding company and the world's 2nd largest restaurant owner and franchisor. Inspire Brands was formed when Arby's Restaurant Group merged with Buffalo Wild Wings in early 2018. Inspire Brands is majority-owned by affiliates of Roark Capital Group, a private equity firm. Roark’s focus is consumer, multi-unit, and franchise brands. Roark Capital Group has over $33B in assets. The Inspire Brands family of restaurants includes Rusty Taco, Sonic, Jimmy John’s, Mister Donut, Baskin-Robbins, and Dunkin Donuts. Inspire manages over 32,600 restaurants, and 650,000 company and franchise members, and has over $32.5B in global system sales. Inspire Brands and Roark Capital are headquartered in Sandy Springs, GA.

...

$ 1,375,000

Dunkin’

Fast Food/QSR  

Cap Rate 6.69% | SF 1,547 | Term 8.60
Cherry Hill Township, NJ 08003
  • Signalized intersection

  • Hard corner intersection

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Absolute NNN

  • Long 10+ yr lease

  • Over 2000 units backed

  • 25+ unit franchisee backed

  • ...
  • Longstanding Dunkin’ with over 50 years of continuous operation at this location

  • Absolute NNN lease commenced May 2024 with 10-year base term

  • Annual rent of $92,000 with 10% increases every five years

  • One five-year option extending potential lease term to 2039

  • Prime hard corner location at Marlton Pike East and Greentree Road intersection

  • Dense 5-mile trade area with 235,314 residents and $155,806 average household income

  • Offered at $1,375,000 with a 6.70% cap rate

  • Renovated in 2014 with strong visibility and access from two major roads

  • Tenant Dunkin'
  • Guarantor Corp Rated
  • #Units 13,200
  • Moody's/S&P B2/ B+
  • Stock Private

Dunkin' Donuts LLC, also known as Dunkin' and by the initials DD, is an American multinational coffee and doughnut company and a quick service restaurant. The chain sells over 50 varieties of donuts and more than a dozen coffee beverages as well as an array of bagels, breakfast sandwiches, and other baked goods. Founded in 1950, in Quincy, MA, Dunkin' still uses the original proprietary coffee blend recipe established by its founder Bill Rosenberg. Today, there are more than 13,200 Dunkin’ restaurants worldwide, with over 8,500 restaurants in 41 states across the US and over 3,200 international restaurants across 36 countries. Inspire Brands acquired the chain on December 15, 2020, for $11.3B. Dunkin’ is headquartered in Canton, MA. 


Inspire Brands, Inc. is a privately held holding company and the world's 2nd largest restaurant owner and franchisor. Inspire Brands was formed when Arby's Restaurant Group merged with Buffalo Wild Wings in early 2018. Inspire Brands is majority-owned by affiliates of Roark Capital Group, a private equity firm. Roark’s focus is consumer, multi-unit, and franchise brands. Roark Capital Group has over $33B in assets. The Inspire Brands family of restaurants includes Rusty Taco, Sonic, Jimmy John’s, Mister Donut, Baskin-Robbins, and Dunkin Donuts. Inspire manages over 32,600 restaurants, and 650,000 company and franchise members, and has over $32.5B in global system sales. Inspire Brands and Roark Capital are headquartered in Sandy Springs, GA.

...

$ 3,978,000

Chipotle

Fast Casual/Rest.  

Cap Rate 4.65% | SF 2,494 | Term 14.8
Lake Wales, FL 33859
  • New construction

  • Build to suit

  • Major thoroughfare

  • Dense retail corridor

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Traded and rated company

  • Over 2000 units backed

  • ...
  • Brand new Chipotle with Chipotlane drive-thru opening September 2025

  • 15-year fee simple absolute NNN lease with corporate guaranty

  • 10% rental increases every five years throughout base and options

  • Excellent visibility along U.S. Highway 27 with 42,000 vehicles per day

  • Surrounded by major national retailers and high-growth residential developments

  • Priced at $3,978,000 with a 4.65% cap rate

  • Net operating income of $185,000 annually from corporate-backed lease

  • Four five-year option periods extending total potential lease term to 35 years

  • Tenant Chipotle Mexican Grill
  • Guarantor Corp Traded
  • #Units 3,636
  • Stock NYSE: CMG

Chipotle Mexican Grill, Inc., or “Chipotle”, is an American chain of fast-casual restaurants in the U.S., United Kingdom, Canada, Germany, and France. The Fortune 500 company specializes in made-to-order burritos, burrito bowls, tacos, quesadillas, and salads. Founded in 1993 in Denver, CO, Chipotle had grown to 16 restaurants in the state when McDonald’s Corporation became a major investor in 1998. By 2006, McDonald’s had fully divested itself from Chipotle. That same year, the company went public (NYSE: CMG), and the chain grew to over 500 locations. As of September 2023, the company operated more than 3,350 locations in 49 states and territories, with 65+ international restaurants. The brand employs more than 115,000 people. Chipotle is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. At the end of 2023, Chipotle Mexican Grill, Inc. earned a revenue of $9.5B+ and a market cap of $62.7B+, representing more than a 63% increase compared to the prior year, for the latter. The company is headquartered in Newport Beach, CA.

...

$ 3,143,000

Chipotle

Fast Casual/Rest.  

Cap Rate 5.25% | SF 2,627 | Term 15.00
Washington Township, NJ 08012
  • Recent renovation

  • Hard corner intersection

  • High traffic 50M+ VPD

  • Major thoroughfare

  • Dense 100M+ pop 5 mi

  • Top 100 MSA

  • Brand new lease

  • Long 15+ yr lease

  • Traded and rated company

  • Over 2000 units backed

  • ...
  • Brand new 15-year corporate guaranteed Chipotle lease commencing October 2025

  • Fee simple ownership with NN lease structure

  • 10% rental increases every five years throughout lease term

  • High visibility along Route 42 with 79,300 vehicles per day

  • Surrounded by major national retailers creating strong tenant synergy

  • Affluent 5-mile demographics with $121,641 average household income

  • Newly renovated building with new roof in 2025

  • Three five-year renewal options extending lease up to 30 years

  • Tenant Chipotle Mexican Grill
  • Guarantor Corp Traded
  • #Units 3,636
  • Stock NYSE: CMG

Chipotle Mexican Grill, Inc., or “Chipotle”, is an American chain of fast-casual restaurants in the U.S., United Kingdom, Canada, Germany, and France. The Fortune 500 company specializes in made-to-order burritos, burrito bowls, tacos, quesadillas, and salads. Founded in 1993 in Denver, CO, Chipotle had grown to 16 restaurants in the state when McDonald’s Corporation became a major investor in 1998. By 2006, McDonald’s had fully divested itself from Chipotle. That same year, the company went public (NYSE: CMG), and the chain grew to over 500 locations. As of September 2023, the company operated more than 3,350 locations in 49 states and territories, with 65+ international restaurants. The brand employs more than 115,000 people. Chipotle is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. At the end of 2023, Chipotle Mexican Grill, Inc. earned a revenue of $9.5B+ and a market cap of $62.7B+, representing more than a 63% increase compared to the prior year, for the latter. The company is headquartered in Newport Beach, CA.

...

$ 3,570,000

Wendy’s

Fast Food/QSR  

Cap Rate 5.00% | SF 3,178 | Term 0.00
Loveland, CO 80538
  • New construction

  • Build to suit

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Long 20+ yr lease

  • Absolute NNN

  • Traded and rated company

  • 100+ unit franchisee backed

  • ...
  • Brand new Wendy’s with 25-year absolute NNN lease

  • 2% fixed annual rent increases throughout base term

  • Fee simple ownership with depreciation benefits

  • 3,178 SF building with drive-thru on 1.023-acre lot

  • Located along E Crossroads Blvd with I-25 visibility

  • Surrounded by national retailers including Chick-fil-A, Starbucks, Bass Pro Shops

  • Average household income of $148,820 within 5 miles

  • Offered at $3,570,000 with 5.0% cap rate

  • Tenant Wendy's
  • Guarantor Corp T and Rated
  • #Units 7,240
  • Moody's/S&P B3/ B+
  • Stock NASDAQ: WEN

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company and its subsidiaries operate as a quick-service restaurant company. It operates through three segments: Wendy’s U.S., Wendy’s International, and Global Real Estate & Development. The company operates, develops, and franchises a system of quick-service restaurants specializing in hamburger sandwiches. As of March 2023, they operate approximately 415 company-owned restaurants and 6,825 franchised restaurants worldwide. Wendy’s has a credit rating of B+ from Standard and Poor’s and a long-term rating of B3 from Moody’s. The Wendy's Company (NASDAQ: WEN) is an American holding company for the major fast food chain Wendy's. In 2023, total revenue amounted to over $2.18B with a current market cap of $3.78B. They are headquartered in Dublin, OH. 

...

$ 3,570,000

Wendy’s

Fast Food/QSR  

Cap Rate 5.00% | SF 2,400 | Term 9.9
Arvada, CO 80007
  • New construction

  • Hard corner intersection

  • Near major nationals

  • Strategically located

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Traded and rated company

  • Top franchise operator

  • ...
  • Brand new 25-year absolute NNN lease commencing at close of escrow

  • Scheduled 2% annual rental escalations throughout lease term

  • Leased to Wend Summit II, experienced operator with 17 Colorado locations

  • Fee simple ownership including improvements with benefit of depreciation

  • 2,400 SF Wendy’s building with drive-thru on 1.07-acre lot

  • Outparcel to high-performing King Soopers anchored shopping center

  • Strong demographics with $167K average household income within 5 miles

  • Located at hard corner intersection with 18,800 daily traffic count

  • Tenant Wendy's
  • Guarantor Corp T and Rated
  • #Units 7,240
  • Moody's/S&P B3/ B+
  • Stock NASDAQ: WEN

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company and its subsidiaries operate as a quick-service restaurant company. It operates through three segments: Wendy’s U.S., Wendy’s International, and Global Real Estate & Development. The company operates, develops, and franchises a system of quick-service restaurants specializing in hamburger sandwiches. As of March 2023, they operate approximately 415 company-owned restaurants and 6,825 franchised restaurants worldwide. Wendy’s has a credit rating of B+ from Standard and Poor’s and a long-term rating of B3 from Moody’s. The Wendy's Company (NASDAQ: WEN) is an American holding company for the major fast food chain Wendy's. In 2023, total revenue amounted to over $2.18B with a current market cap of $3.78B. They are headquartered in Dublin, OH. 

...

$ 4,266,000

Starbucks

Fast Food/QSR  

Cap Rate 4.60% | SF 2,279 | Term 0.00
Sacramento, CA 95829
  • New construction

  • Build to suit

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Brand new 2025 construction Starbucks with drive-thru design

  • Corporate guaranteed lease directly with Starbucks Corporation NASDAQ SBUX

  • 15 year primary lease term commencing in 2025

  • Initial annual rent $196,250 with 4.60 percent cap rate

  • Ten percent rent increases in year 6 and each option period

  • 2,279 SF building on 0.58 acre parcel within Promenade at Arbor Creek

  • Located on Elk Grove Florin Road with 35,076 vehicles per day and near CA 99 with 176,000 vehicles

  • Five mile trade area population 304,906 with average household income $119,812

  • Tenant Starbucks
  • Guarantor Corp T and Rated
  • #Units 38,038
  • Moody's/S&P Baa1/ BBB+
  • Stock NASDAQ: SBUX

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official merchandise, such as mugs, tumblers, scoops, and coffee presses.  In addition to their flagship Starbucks Coffee brand, they sell goods and services under the following brands: Teavana, Ethos, Starbucks Reserve, and Princi. Founded in 1985, as of December 2023, the company has over 38,000 stores (17,800 US locations), in 86 markets, and 80 countries worldwide. Out of Starbucks' U.S.-based stores, over 10,600 are company-operated, while the remainder are licensed. Starbucks’ 2023 market cap was over $109.13B and its 2023 revenue was $36.68B. The company is ranked 120th on the Fortune 500 and 303rd on the Forbes Global 2000. Starbucks has an S&P rating of BBB+. The company was founded and is still headquartered in Seattle, WA. 

...

$ 3,368,000

Starbucks

Fast Food/QSR  

Cap Rate 4.75% | SF 1,000 | Term 9.3
Eureka, CA 95501
  • New construction

  • Build to suit

  • Major thoroughfare

  • Near major nationals

  • Strong demographics

  • Business growth area

  • Brand new lease

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Brand new 2024 construction with modern double drive-thru design

  • Corporate guaranteed lease directly with Starbucks Corporation NASDAQ SBUX

  • 10 year primary lease term commencing January 2025

  • Initial annual rent $160,000 with 4.75 percent cap rate

  • Four 5 year renewal options with 10 percent rent increases

  • 1,000 SF building situated on 0.36 acre parcel

  • Located on US Highway 101 with 35,000 vehicles per day

  • Five mile trade area population 82,759 with average household income $93,415

  • Tenant Starbucks
  • Guarantor Corp T and Rated
  • #Units 38,038
  • Moody's/S&P Baa1/ BBB+
  • Stock NASDAQ: SBUX

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official merchandise, such as mugs, tumblers, scoops, and coffee presses.  In addition to their flagship Starbucks Coffee brand, they sell goods and services under the following brands: Teavana, Ethos, Starbucks Reserve, and Princi. Founded in 1985, as of December 2023, the company has over 38,000 stores (17,800 US locations), in 86 markets, and 80 countries worldwide. Out of Starbucks' U.S.-based stores, over 10,600 are company-operated, while the remainder are licensed. Starbucks’ 2023 market cap was over $109.13B and its 2023 revenue was $36.68B. The company is ranked 120th on the Fortune 500 and 303rd on the Forbes Global 2000. Starbucks has an S&P rating of BBB+. The company was founded and is still headquartered in Seattle, WA. 

...

$ 1,617,000

Sonic Drive-In

Fast Casual/Rest.  

Cap Rate 6.50% | SF 1,273 | Term 7.2
Waynesboro, TN 38485
  • In location for years

  • Major thoroughfare

  • Near major nationals

  • Highway location

  • Strong tenant synergy

  • Income tax free state

  • Long operation history

  • Absolute NNN

  • Over 2000 units backed

  • 100+ unit franchisee backed

  • ...
  • Established Sonic Drive-In operating since 2009 with long-term tenancy

  • Absolute NNN lease with tenant responsible for all property expenses

  • 23 year lease term running through January 2033

  • Current NOI $105,134 including base rent and percentage rent from sales

  • Two 5 year renewal options available beyond primary lease term

  • 1,273 SF building situated on a 1 acre parcel

  • Located along Dexter L Woods Memorial Blvd with 9,980 vehicles per day

  • Five mile trade area population 4,574 with average household income $69,720

  • Tenant Sonic
  • Guarantor Corp Rated
  • #Units 3,514
  • Moody's/S&P B2/ B+
  • Stock Private

Sonic Corporation, founded as Sonic Drive-In and more commonly known as Sonic or "The Drive-In," is an American drive-in fast food restaurant chain owned by Inspire Brands, the parent company of Arby's, Dunkin Donuts, and Buffalo Wild Wings. Sonic's menu consists of hamburgers, french fries, onion rings, corn dogs, chili dogs, and breakfast toaster sandwiches. As of 2023, over 3,500 Sonic restaurants are in 47 US states. Sonic has operated since the early 1950s, and before its acquisition by Inspire Brands, its stock was publicly traded. Inspire acquired Sonic Drive-In for $2.3B in the Fall of 2018. Most restaurants are owned and operated by franchisees, and Sonic Drive-In’s total 2021 revenue was $5.83B. Corporate headquarters are in Oklahoma City, OK.


Inspire Brands, Inc. is a privately held holding company and the world's 2nd largest restaurant owner and franchisor. Inspire Brands was formed when Arby's Restaurant Group merged with Buffalo Wild Wings in early 2018. Inspire Brands is majority-owned by affiliates of Roark Capital Group, a private equity firm. Roark’s focus is consumer, multi-unit, and franchise brands. Roark Capital Group has over $33B in assets. The Inspire Brands family of restaurants includes Rusty Taco, Sonic, Jimmy John’s, Mister Donut, Baskin-Robbins, and Dunkin Donuts. Inspire manages over 32,600 restaurants, and 650,000 company and franchise members, and has over $32.5B in global system sales. Inspire Brands and Roark Capital are headquartered in Sandy Springs, GA.

...

$ 1,874,000

Sonic Drive-In

Fast Casual/Rest.  

Cap Rate 6.50% | SF 1,490 | Term 7.2
Hazel Green, AL 35750
  • Oversized lot

  • In location for years

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Long operation history

  • Absolute NNN

  • Over 2000 units backed

  • 100+ unit franchisee backed

  • ...
  • Established Sonic Drive-In operating since 2009 under Absolute NNN lease

  • 23 year lease term extending through January 2033 with tenant responsibility

  • Current NOI $121,818 including base rent and percentage rent from sales

  • Two 5 year renewal options available beyond primary lease term

  • 1,490 SF building on oversized 1.6 acre parcel with drive-in layout

  • Positioned on U.S. Highway 231/431 with 27,408 vehicles per day

  • Surrounded by Walmart Lowe’s Walgreens McDonald’s CVS Dollar General and Taco Bell

  • Five mile trade area population 22,416 with average household income $108,681

  • Tenant Sonic
  • Guarantor Corp Rated
  • #Units 3,514
  • Moody's/S&P B2/ B+
  • Stock Private

Sonic Corporation, founded as Sonic Drive-In and more commonly known as Sonic or "The Drive-In," is an American drive-in fast food restaurant chain owned by Inspire Brands, the parent company of Arby's, Dunkin Donuts, and Buffalo Wild Wings. Sonic's menu consists of hamburgers, french fries, onion rings, corn dogs, chili dogs, and breakfast toaster sandwiches. As of 2023, over 3,500 Sonic restaurants are in 47 US states. Sonic has operated since the early 1950s, and before its acquisition by Inspire Brands, its stock was publicly traded. Inspire acquired Sonic Drive-In for $2.3B in the Fall of 2018. Most restaurants are owned and operated by franchisees, and Sonic Drive-In’s total 2021 revenue was $5.83B. Corporate headquarters are in Oklahoma City, OK.


Inspire Brands, Inc. is a privately held holding company and the world's 2nd largest restaurant owner and franchisor. Inspire Brands was formed when Arby's Restaurant Group merged with Buffalo Wild Wings in early 2018. Inspire Brands is majority-owned by affiliates of Roark Capital Group, a private equity firm. Roark’s focus is consumer, multi-unit, and franchise brands. Roark Capital Group has over $33B in assets. The Inspire Brands family of restaurants includes Rusty Taco, Sonic, Jimmy John’s, Mister Donut, Baskin-Robbins, and Dunkin Donuts. Inspire manages over 32,600 restaurants, and 650,000 company and franchise members, and has over $32.5B in global system sales. Inspire Brands and Roark Capital are headquartered in Sandy Springs, GA.

...

$ 2,620,000

Sonic Drive-In

Fast Casual/Rest.  

Cap Rate 6.00% | SF 1,225 | Term 7.30
Dickson, TN 37055
  • In location for years

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Long operation history

  • Absolute NNN

  • 100+ unit franchisee backed

  • Top franchise operator

  • ...
  • Established Sonic Drive-In operating at this location since 2009

  • Absolute NNN lease with tenant responsible for all expenses

  • 23 year lease term running through January 2033

  • Current annual rent $157,170 including base and percentage rent

  • Two 5 year renewal options available beyond primary term

  • 1,225 SF building on 0.99 acre lot with drive-in layout

  • Positioned along Highway 46 near I-40 with 66,000+ combined vehicles daily

  • Five mile trade area population 18,239 with average household income $88,886

  • Tenant Sonic
  • Guarantor Corp Rated
  • #Units 3,514
  • Moody's/S&P B2/ B+
  • Stock Private

Sonic Corporation, founded as Sonic Drive-In and more commonly known as Sonic or "The Drive-In," is an American drive-in fast food restaurant chain owned by Inspire Brands, the parent company of Arby's, Dunkin Donuts, and Buffalo Wild Wings. Sonic's menu consists of hamburgers, french fries, onion rings, corn dogs, chili dogs, and breakfast toaster sandwiches. As of 2023, over 3,500 Sonic restaurants are in 47 US states. Sonic has operated since the early 1950s, and before its acquisition by Inspire Brands, its stock was publicly traded. Inspire acquired Sonic Drive-In for $2.3B in the Fall of 2018. Most restaurants are owned and operated by franchisees, and Sonic Drive-In’s total 2021 revenue was $5.83B. Corporate headquarters are in Oklahoma City, OK.


Inspire Brands, Inc. is a privately held holding company and the world's 2nd largest restaurant owner and franchisor. Inspire Brands was formed when Arby's Restaurant Group merged with Buffalo Wild Wings in early 2018. Inspire Brands is majority-owned by affiliates of Roark Capital Group, a private equity firm. Roark’s focus is consumer, multi-unit, and franchise brands. Roark Capital Group has over $33B in assets. The Inspire Brands family of restaurants includes Rusty Taco, Sonic, Jimmy John’s, Mister Donut, Baskin-Robbins, and Dunkin Donuts. Inspire manages over 32,600 restaurants, and 650,000 company and franchise members, and has over $32.5B in global system sales. Inspire Brands and Roark Capital are headquartered in Sandy Springs, GA.

...

$ 1,758,000

Popeyes

Fast Food/QSR  

Cap Rate 4.75% | SF 2,400 | Term 18.10
Liberty Hill, TX 78642
  • New construction

  • Build to suit

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Corporate Guarantee

  • 100+ unit franchisee backed

  • ...
  • Brand new 2024 Popeyes with drive-thru on TX-29 in Liberty Hill

  • 20 year Absolute NNN ground lease commencing August 2024

  • Initial annual rent $83,500 with 10% increases every 5 years

  • Four 5 year renewal options extending lease potential to 2044

  • Lease guaranteed by Z&H Foods Inc Popeyes’ largest franchisee with 180+ units

  • 2,400 SF building on 0.955 acre parcel in fast-growing Austin suburb

  • Located near HEB McDonald’s Starbucks CVS Walgreens and future Home Depot

  • Five mile trade area population 46,432 with average household income $137,941

  • Tenant Popeyes
  • Guarantor Corp T and Rated
  • #Units 4,979
  • Stock NYSE: QSR

Popeyes Louisiana Kitchen, Inc., also known as Popeyes, is an American multinational chain of fried chicken fast food restaurants founded in 1972 in New Orleans, LA. Popeyes distinguishes itself with a unique New Orleans-style menu featuring spicy chicken, chicken tenders, fried shrimp, and other regional items. Popeyes is currently a subsidiary of Toronto-based Restaurant Brands International, and as of December 2023, there are 4571 corporately owned and franchised Popeyes restaurants. In 2023 their system-wide sales were over $6.81B. The company is headquartered in Miami, FL.

 

Restaurant Brands International Inc. (NYSE: QSR), or RBI, is an American-Canadian-based multinational fast food holding company, with over 30,000 restaurants in over 100 countries. The company’s brands include Burger King, Tim Horton’s, and Firehouse Subs. The holding company’s 2023 revenue was reported at $7.02B a 7.95% increase to the prior year. The company has a market cap of $34.88B and a BB S&P long-term credit rating. RBI is headquartered in Toronto, Ontario.

...

$ 3,040,000

Dutch Bros Coffee

Fast Food/QSR  

Cap Rate 5.00% | SF 1,045 | Term 14.4
Altamonte Springs, FL 32714
  • New construction

  • Signalized intersection

  • Major thoroughfare

  • Dense retail corridor

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Brand new 2025 Dutch Bros Coffee with drive-thru on SR 436

  • 15 year Absolute NNN corporate ground lease commencing April 2025

  • Initial annual rent $152,000 with 10% increases in years 6 and 11

  • Three 5 year renewal options with 10% rent increases at each option start

  • Lease guaranteed by Dutch Bros corporate entity traded on NYSE as BROS

  • 1,045 SF building on 0.814 acre parcel with ample parking

  • Hard corner signalized location with visibility to I-4 carrying 157,000+ vehicles daily

  • Five mile trade area population exceeds 200,000 with household incomes above $100,00

  • Tenant Dutch Bros. Coffee
  • Guarantor Corp Traded
  • #Units 700
  • Stock NYSE: BROS

Dutch Bros. Coffee (NYSE: BROS) is a drive-through, specialty coffee chain with company-owned and franchised locations expanding throughout the western United States. Most of its stores are drive-thru stands, selling hot and cold handcrafted drinks, including non-coffee options, and a selection of baked goods. Founded in 1992 by brothers Dane and Travis Boersma, Dutch Bros began with a double-head espresso machine and a pushcart in Grants Pass, Oregon. As of December 31, 2024, they operate 831 locations across 16 states. The chain became publicly traded in 2021. As of March 2023, the company has a market cap of $5.73B, and a reported revenue of $.96B. Dutch Bros. Coffee's headquarters are in Grants Pass, OR.

...

$ 2,224,000

Dutch Bros Coffee

Fast Food/QSR  

Cap Rate 4.50% | SF 950 | Term 8.30
Vallejo, CA 94589
  • New construction

  • Signalized intersection

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

  • ...
  • Brand new 2024 Dutch Bros drive-thru on Fairgrounds Drive at Gateway Drive

  • 10 year Absolute NNN corporate ground lease commencing January 2024

  • Initial annual rent $100,100 with 10% increases every 5 years

  • Four 5 year renewal options extending potential lease term to 30 years

  • Lease guaranteed by BB Holdings CA, LLC a Dutch Bros corporate entity

  • 950 SF building on 0.73 acre parcel with 27 parking spaces

  • Signalized hard corner location near I-80 CA-37 and CA-29 with 133,000+ ADT

  • Five mile trade area population 146,494 with $122,062 average household income

  • Tenant Dutch Bros. Coffee
  • Guarantor Corp Traded
  • #Units 700
  • Stock NYSE: BROS

Dutch Bros. Coffee (NYSE: BROS) is a drive-through, specialty coffee chain with company-owned and franchised locations expanding throughout the western United States. Most of its stores are drive-thru stands, selling hot and cold handcrafted drinks, including non-coffee options, and a selection of baked goods. Founded in 1992 by brothers Dane and Travis Boersma, Dutch Bros began with a double-head espresso machine and a pushcart in Grants Pass, Oregon. As of December 31, 2024, they operate 831 locations across 16 states. The chain became publicly traded in 2021. As of March 2023, the company has a market cap of $5.73B, and a reported revenue of $.96B. Dutch Bros. Coffee's headquarters are in Grants Pass, OR.

...

$ 2,004,000

Dunkin’

Fast Food/QSR  

Cap Rate 5.70% | SF 1,682 | Term 14.10
Stow, OH 44224
  • New construction

  • Signalized intersection

  • Major thoroughfare

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Absolute NNN

  • Over 2000 units backed

  • Corporate Guarantee

  • ...
  • Brand new 2025 Dunkin’ construction with drive-thru and outdoor patio

  • 15 year Absolute NNN corporate ground lease starting October 2025

  • Initial annual rent $114,221 with 10% increases every 5 years

  • Three 5 year renewal options extending potential lease to 30 years

  • Lease guaranteed by Dunkin Holding Company, subsidiary of Inspire Brands

  • 1,682 SF building on 1.63 acre oversized parcel with 20 parking spaces

  • Prominent signalized hard corner location less than 1 mile from State Route 8

  • Five mile trade area population 121,182 with average household income $100,221

  • Tenant Dunkin'
  • Guarantor Corp Rated
  • #Units 13,200
  • Moody's/S&P B2/ B+
  • Stock Private

Dunkin' Donuts LLC, also known as Dunkin' and by the initials DD, is an American multinational coffee and doughnut company and a quick service restaurant. The chain sells over 50 varieties of donuts and more than a dozen coffee beverages as well as an array of bagels, breakfast sandwiches, and other baked goods. Founded in 1950, in Quincy, MA, Dunkin' still uses the original proprietary coffee blend recipe established by its founder Bill Rosenberg. Today, there are more than 13,200 Dunkin’ restaurants worldwide, with over 8,500 restaurants in 41 states across the US and over 3,200 international restaurants across 36 countries. Inspire Brands acquired the chain on December 15, 2020, for $11.3B. Dunkin’ is headquartered in Canton, MA. 


Inspire Brands, Inc. is a privately held holding company and the world's 2nd largest restaurant owner and franchisor. Inspire Brands was formed when Arby's Restaurant Group merged with Buffalo Wild Wings in early 2018. Inspire Brands is majority-owned by affiliates of Roark Capital Group, a private equity firm. Roark’s focus is consumer, multi-unit, and franchise brands. Roark Capital Group has over $33B in assets. The Inspire Brands family of restaurants includes Rusty Taco, Sonic, Jimmy John’s, Mister Donut, Baskin-Robbins, and Dunkin Donuts. Inspire manages over 32,600 restaurants, and 650,000 company and franchise members, and has over $32.5B in global system sales. Inspire Brands and Roark Capital are headquartered in Sandy Springs, GA.

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