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Views: 191 DOM: 329 Updated: 10.25.24 Posted: 01.18.24 Status: Active

Summary

Price $3,267,000
Built/Renov 2013
Tenant Wendy's (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,675
Lease Start 06-01-2013
#Units 7,240
Price/SF $1,221.31
Expiration 05-31-2033
Tenant Type Fast Food/QSR
NOI $163,350
R. Term 8.5
Ownership Ground Lease
Rent/SF $61.07
Increases 10.0%/4/yrs
Pop 5Mi 278,245
Lot/AC 1.52
Options 4/5yrs
AHHI 5Mi $111,550

Lease Highlights

  • Wendy’s has 8+ years remaining on the current ground lease term with 4 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term, FMV at the start of option 1, and 10% at the start of each remaining option
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NASDAQ: WEN)

Location Description

Wendy’s is strategically positioned on Culebra Rd, with access to 41,661 vehicles passing by daily. Additionally, the property features shared cross access with In-N-Out and Raising Cane’s. It is conveniently situated next to Alamo Ranch Power Center, anchored by Target, Lowe’s (shadow anchored), Ross Dress for Less, Michaels, Dick’s Sporting Goods, Best Buy, and more. The 5-mile trade area is...

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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 : 12,754 125,830 304,287
2023 Total Population : 12,184 117,022 281,420
2023 Employed Civilian Pop : 6,418 60,701 143,785
2023 Total Businesses : 503 1,532 4,209
2023 Average Household Income : $ 90,020 $ 114,647 $ 111,494
2023 Total Consumer Spending : $ 359 M $ 3993 M $ 9341 M
2023 Median Age : 32 34 35
2023 Total Households : 4,612 40,566 97,553
2023 Pop Age 25+: Bachelor's Degree : 1,885 20,845 48,475
2023 Average Home Value : $ 234,360 $ 273,487 $ 274,599
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Culebra Rd Westwood Loop 2013 41,661 0.07 mi
Culebra Rd Westwood Loop 2012 34,589 0.13 mi
Culebra Road Lp 1604 Access Rd 2021 51,291 0.19 mi
Culebra Road Leslie Rd 2020 32,069 0.19 mi
West Loop 1604 North Westwood Loop 2021 24,314 0.22 mi
Westwood Vis Leslie Rd 2012 1,259 0.25 mi
Anderson Loop Culebra Rd 2020 95,972 0.26 mi
Anderson Loop Westwood Vis 2018 113,746 0.27 mi
Anderson Loop Westwood Vis 2021 78,159 0.28 mi
C W Anderson Loop Culebra Rd 2013 90,645 0.30 mi

Listing Broker

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