Wendy's
Lapeer, MI
Key Details
| Price: | $1,905,120 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $119,070 |
| Address: | 436 South Main Street, Lapeer, Michigan 48446 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 7/1/2015 |
| Lease Expiration: | 6/30/2035 |
| Lease Term Remaining: | 10.2 Years |
| Rental Increases: | 5.00% Every 5 Years |
| Lot Size: | 0.95 Acres |
| Building Size: | 2,273 SF |
| Year Built: | 1976 |
NNN Pro is pleased to present the exclusive listing for a Wendy's located at 436 South Main Street, Lapeer, Michigan 48446. The site consists of roughly 2273 rentable square feet of building space on an estimated 0.95-acre parcel of land. This Wendy's is subject to a 20-year Triple Net (NNN) lease, which commenced 7/1/2015. The current annual rent is $119,070 and has scheduled increases of 5.00% Every 5 Years.
About the Investment
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease
- Approximately 11.0 Years of Base Lease Term Remaining
- Corporate Guarantee from Wendy’s Properties, LLC
- Subleased to WEN NATIONAL, LLC, a 40+ Unit Wendy’s Operator
- Long Term Operating History | This Wendy’s Has Operated at This Location For Over 45 Years
- Anticipated Remodel Before End of 2024!
About the Location
- Dense Retail Corridor | Kroger, Meijer, Walgreens, ALDI, The Home Depot, O’Reilly Auto Parts, AutoZone, Dollar Tree, Buffalo Wild Wings, Applebee’s, McDonald’s, FKC, Arby’s, Subway, Burger King, Starbucks, Dairy Queen, Taco Bell, and Many More
- Population Exceeds 59,800 Individuals Within a Ten-Mile Radius
- Strong Traffic Counts | Over 21,500 and 21,800 Vehicles per Day Along West Genesee Street and South Main Street, Respectively
- Strong Academic Presence| 7 Academic Institutions Located Within a Three-Mile Radius of the Property | Combined Total Enrollment Exceed 3,000 Students
- Average Household Income Exceeding $ 65,100 Within a Three-Mile Radius
About the Tenant/Brand
- The Wendy’s System Includes More Than 6,500 Franchise and Company Restaurants in the U.S. and 29 Other Countries and U.S. Territories Worldwide
- The Wendy’s Company is the World’s Third Largest Quick-Service Hamburger Company and Employs Over 14,000 Individuals
- Publicly Traded (NASDAQ: WEN) With a $4.88 Billion Market Cap (As of 2/28/2022)
- Total Revenue For 2021 Exceeded $1.897 Billion
- The Wendy’s Company Carries a B Rating from Standard and Poor’s
Key Details
| Price: | $1,905,120 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $119,070 |
| Address: | 436 South Main Street, Lapeer, Michigan 48446 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 7/1/2015 |
| Lease Expiration: | 6/30/2035 |
| Lease Term Remaining: | 10.2 Years |
| Rental Increases: | 5.00% Every 5 Years |
| Lot Size: | 0.95 Acres |
| Building Size: | 2,273 SF |
| Year Built: | 1976 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Edward Otocka
eotocka@nnnpro.com
License: NY: 10401298466
Anthony Bird
abird@nnnpro.com
License: NY: 10401306066
Broker of Record
Brian Brockman
Bang Realty-Michigan, Inc
License: 6502428679
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.