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| Price $2,364,600 | Built/Renov 2017 | Tenant Wendy’s |
| Cap Rate 6.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
3,378
| Lease Start
09-06-2018
| #Units
7,240
|
| Price/SF $700.00 | Expiration
09-05-2038
| Tenant Type Fast Food/QSR |
| NOI $141,876 | R. Term 12.11 | Ownership Fee Simple |
| Rent/SF
$42.00
| Increases 1.3%/2/yrs | Pop 5Mi 28,454 |
| Lot/AC 1.59 | Options 6/5yrs/1.25% | AHHI 5Mi $132,111 |
| | |
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
Wendy’s is strategically located along Broadmoor Avenue SE in Caledonia, Michigan, with access to a daily traffic count of approximately 19,658 vehicles. The site is surrounded by major national retailers including Walmart, Meijer, Target, and Lowe’s, driving consistent consumer traffic to the area. The property is located near several schools, residential communities, and new developments...
...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
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...
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Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]
