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Views: 35 DOM: 28 Updated: 10.03.24 Posted: 09.12.24 Status: Active

Summary

Price $2,817,000
Built/Renov 1987/2001
Tenant Wendy's
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,697
Lease Start 12-14-2022
#Units 50
Price/SF $1,044.49
Expiration 12-31-2042
Tenant Type Fast Food/QSR
NOI $140,869
R. Term 18.2
Ownership Fee Simple
Rent/SF $52.23
Increases 1.5%/1/yrs
Pop 5Mi 34,579
Lot/AC 1.33
Options 4/5yrs/1.5%
AHHI 5Mi $95,378

Lease Highlights

  • Wendy’s has 18+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1.5% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Tim Cloe (50 units backed)

Location Description

Wendy’s is strategically located on Knights Drive and Jones Loop Road, with access to a combined daily traffic count of 23,000 vehicles. The property is directly across from a Walmart Supercenter and ALDI, providing excellent visibility. Situated just off Interstate 75 (66,200 VPD), the location offers convenient on-and-off ramp access. The site also features two points of entry and is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wendy's
  • Guarantor:Franchisee
  • Company:Tim Cloe
  • # Units:50
  • 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 and its subsidiaries operate as a quick-service restaurant...


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