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Updated: 01.29.24 Posted: 11.30.23 Status: Sold

Summary

Price $2,403,846 $2,450,980
Built/Renov 2024
Tenant Wendy's
Cap Rate 5.20% 5.10%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,179
Lease Start 02-01-2024
#Units 90
Price/SF $1,103.19 $1,124.82
Expiration 01-31-2044
Tenant Type Fast Food/QSR
NOI $125,000
R. Term 18.9
Ownership Fee Simple
Rent/SF $57.37
Increases 7.5%/5/yrs
Pop 5Mi 239,128
Lot/AC 1.28
Options 4/5yrs/7.5%
AHHI 5Mi $61,452

Lease Highlights

  • Brand-new construction | Store opening in February 2024
  • Wendy’s signed a new 20-year lease with 4 (5-year) options to extend
  • The lease features 7.5% rent increases every 5 years during the primary term and in option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Wen JAI Restaurant Group (90 units)

Location Description

Wendy’s is located on North Loop Drive, with access to 18,301 vehicles passing by daily. In the immediate vicinity are well-known national tenants such as U-Haul, Wells Fargo, T-Mobile, Walmart, Walgreens, and several others. The property is surrounded by various apartment complexes, including Canyon Square Village Apartments, The Meadows Apartments, Ochoa Apartments, and more. Additionally,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 14,663 94,738 232,238
2023 Total Population : 14,622 94,104 229,316
2023 Employed Civilian Pop : 5,556 37,490 96,134
2023 Total Businesses : 307 3,653 7,394
2023 Average Household Income : $ 50,264 $ 57,417 $ 68,680
2023 Total Consumer Spending : $ 246 M $ 1829 M $ 5121 M
2023 Median Age : 35 36 36
2023 Total Households : 5,474 35,839 84,873
2023 Pop Age 25+: Bachelor's Degree : 877 8,621 26,555
2023 Average Home Value : $ 146,567 $ 182,568 $ 187,004
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Loop Dr N Yarbrough Dr 2005 16,861 0.01 mi
N Yarbrough Dr N Loop Dr 2002 26,630 0.12 mi
N Yarbrough Dr Susan Way 2005 26,901 0.15 mi
Lafayette Dr Eron Way 2002 2,070 0.26 mi
Lafayette Dr N Loop Dr 2002 2,210 0.29 mi
Martha Way N Loop Dr 2002 130 0.31 mi
N Yarbrough Dr Tranquilo Dr 2006 23,430 0.35 mi
N Loop Dr Mauer Rd 2002 15,854 0.37 mi
Mauer Rd Gallagher St 2002 1,923 0.39 mi
Lafayette Dr N Yarbrough Dr 2003 3,083 0.40 mi

Listing Broker

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