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Views: 102 DOM: 208 Updated: 09.05.24 Posted: 05.08.24 Status: Active

Summary

Price $1,224,000
Built/Renov 1995
Tenant Wendy's (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,938
Lease Start 01-31-1995
#Units 7,240
Price/SF $416.61
Expiration 12-31-2032
Tenant Type Fast Food/QSR
NOI $61,200
R. Term 8.1
Ownership Ground Lease
Rent/SF $20.83
Increases 10.0%/4/yrs
Pop 5Mi 144,123
Lot/AC 0.89
Options 0/0yrs
AHHI 5Mi $124,664

Lease Highlights

  • Wendy’s has been operating in this location since 1995
  • The tenant has 8+ years remaining on the current ground lease term with no options remaining
  • The lease features 10% rental escalations throughout the initial term
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wendy's is strategically located on S Hamilton Circle, fronting I-35, with access to a robust daily traffic count of 71,940 vehicles. The property is adjacent to a Best Western Plus, a Mazda dealership, and a 7-Eleven gas station. Additionally, it is within walking distance of Olathe Medical Center, a Home Depot & Target-anchored shopping center, Olathe South High School, the headquarters for...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wendy's
  • Guarantor:Corp T and Rated
  • Company:The Wendy's Company
  • # Units:7,240
  • 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 : 3,132 73,338 147,422
2023 Total Population : 2,912 72,786 144,123
2023 Employed Civilian Pop : 1,475 39,591 78,297
2023 Total Businesses : 457 2,898 4,392
2023 Average Household Income : $ 92,880 $ 107,874 $ 124,664
2023 Total Consumer Spending : $ 86 M $ 2348 M $ 5437 M
2023 Median Age : 38 35 35
2023 Total Households : 1,083 25,394 51,151
2023 Pop Age 25+: Bachelor's Degree : 520 13,560 30,341
2023 Average Home Value : $ 298,835 $ 323,202 $ 354,439
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Hamilton Cir Meadow Ln 2018 10,710 0.03 mi
S Harrison St 2021 10,389 0.04 mi
S Harrison St Meadow Ln 2018 14,500 0.17 mi
South Woodland Street W 154th St 2021 14,600 0.19 mi
E 151st St S Hamilton St 2016 34,505 0.23 mi
I- 35 2021 12,800 0.25 mi
S Harrison St W South PkBlvd 2015 16,246 0.30 mi
South Harrison Street Old 56 Hwy 2021 14,600 0.31 mi
South Woodland Street W 159th St 2021 31,200 0.31 mi
S Woodland St E 151st St 2013 29,039 0.31 mi

Listing Broker

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