Price $2,347,000 | Built/Renov 1976/2018 | Tenant Wendy's |
Cap Rate 4.75% | Lease Type
Abs NNN | Guarantor Franchisee |
Size/SF
3,068
| Lease Start
07-01-2023
| #Units
80
|
Price/SF $764.99 | Expiration
12-01-2043
| Tenant Type Fast Food/QSR |
NOI $111,500 | R. Term 19.12 | Ownership Fee Simple |
Rent/SF
$36.34
| Increases 1.5%/1/yrs | Pop 5Mi 168,529 |
Lot/AC 0.58 | Options 4/5yrs/1% | AHHI 5Mi $86,253 |
| |
Wendy's is strategically located on Cleveland Avenue, a busy thoroughfare with access to 56,000 vehicles passing by daily. The property offers excellent street frontage and accessibility. Additionally, it enjoys a convenient location just half a mile from Edison Mall, a shopping center anchored by well-known stores like Dillard’s and JCPenney, among others. The densely populated trade area...
...High traffic 50M+ VPD
Dense retail corridor
Top 100 MSA
Strong demographics
Income tax free state
Long 15+ yr lease
Absolute NNN
Annual rent increases
Traded and rated company
50+ unit franchisee backed
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...
1 Miles | 3 Miles | 5 Miles | |
2028 Total Population : | 12,596 | 67,351 | 171,247 |
2023 Total Population : | 12,107 | 64,104 | 168,529 |
2023 Employed Civilian Pop : | 5,962 | 27,659 | 73,887 |
2023 Total Businesses : | 1,269 | 5,841 | 12,228 |
2023 Average Household Income : | $ 69,120 | $ 79,272 | $ 86,253 |
2023 Total Consumer Spending : | $ 315 M | $ 1915 M | $ 5562 M |
2023 Median Age : | 40 | 39 | 45 |
2023 Total Households : | 5,172 | 27,501 | 73,864 |
2023 Pop Age 25+: Bachelor's Degree : | 1,554 | 8,285 | 24,552 |
2023 Average Home Value : | $ 314,382 | $ 357,081 | $ 364,180 |
Collection Street | Cross Street | Year | Traffic Vol | Distance |
Broadway | Solomon Blvd | 2001 | 5,600 | 0.24 mi |
Winkler Ave | Broadway | 2001 | 8,200 | 0.26 mi |
Cleveland Avenue | Earl Rd | 2021 | 44,000 | 0.33 mi |
Cleveland Avenue | Stella St | 2022 | 45,500 | 0.33 mi |
Hill Avenue | Princeton St | 2022 | 1,900 | 0.46 mi |
Cleveland Avenue | Mildred Dr | 2022 | 46,500 | 0.47 mi |
Solomon Boulevard | Residence Dr | 2022 | 6,100 | 0.50 mi |
Broadway | Maravilla Ln | 2022 | 5,000 | 0.58 mi |
Cleveland Ave | State Hwy 45 | 2005 | 55,000 | 0.64 mi |
Hill Dr | 2001 | 1,700 | 0.71 mi |
Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]