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Restaurant

Wendy's

19100 Kelly Rd, Detroit, MI 48224

Listing Price: $2,526,316

Cap Rate
4.75%
Tenant Name
Meritage Hospitality Group
Years Remaining On Lease
19.0
Guarantor
Franchisee Guarantee
Rentable SF
2,671
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$44.93

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendy’s located at 19100 Kelly Road in Detroit, MI. The site consists of roughly 2,671 rentable square feet of building space on estimated 0.55-acre parcel of land. This Wendy’s is subject to a new 20-year absolute triple-net (NNN) lease, which commenced July 1st, 2021. The current annual rent is $120,000 and is scheduled to increase by the lesser of the change in CPI or 1.25% annually starting in Year 3. These increases will continue throughout the base term and in each of the 6, 5-year renewal options.

Investment Highlights

  • Brand New 20-Year Lease With Just Over 19 Years Remaining
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases | Lesser of Change in CPI or One and a Quarter Percent (1.25%) Annually Starting in Year 3

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Listing Price: $2,526,316

Cap Rate
4.75%
Tenant Name
Meritage Hospitality Group
Years Remaining On Lease
19.0
Guarantor
Franchisee Guarantee
Rentable SF
2,671
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$44.93

Investment Highlights

  • Brand New 20-Year Lease With Just Over 19 Years Remaining
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases | Lesser of Change in CPI or One and a Quarter Percent (1.25%) Annually Starting in Year 3

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendy’s located at 19100 Kelly Road in Detroit, MI. The site consists of roughly 2,671 rentable square feet of building space on estimated 0.55-acre parcel of land. This Wendy’s is subject to a new 20-year absolute triple-net (NNN) lease, which commenced July 1st, 2021. The current annual rent is $120,000 and is scheduled to increase by the lesser of the change in CPI or 1.25% annually starting in Year 3. These increases will continue throughout the base term and in each of the 6, 5-year renewal options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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