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Restaurant

Fazoli's

3812 Rib Mountain Dr, Wausau, WI 54401

Listing Price: $1,086,715

Cap Rate
5.50%
Tenant Name
UP Properties II, LLC
Years Remaining On Lease
5.1
Gross SF
3,360
Guarantor
Franchisee Guarantee
Rentable SF
3,360
Price/Gross SF
$323.43
Lease Type
Ground Lease
Rent Per Square Feet
$17.79

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in the land under a Fazoli’s in Wausau, WI, in which the tenant has just executed a five-year lease renewal on their previously extended 20-year ground lease. There are zero landlord responsibilities, and one 5-year option to renew remaining. The 3,360-square-foot building is positioned on an out pad to a Kohl’s-anchored shopping center on Rib Mountain Drive, with visibility to 13,400 vehicles per day. The Property also has convenient access to U.S. Highway 51, state Route 29 and Interstate 39 toward downtown Wausau. Other tenants within the shopping center include Sam’s Club, T.J. Maxx, Walmart Supercenter, Best Buy, Five Guys, PetSmart, Michaels, Old Navy, Hobby Lobby and numerous other national retailers. The Property is unique in that it sits right on the bank of the Wisconsin River and is adjacent to the 1,528-acre Rib Mountain State Park, known for its ski resort, hiking trails, amphitheater and other tourist attractions.

Investment Highlights

  • Long-Term Fazoli's Location | Tenant Has Operated at the Location for 24+ Years and Recently Exercised a Renewal Option at an Increased Rent
  • Highly Desirable QSR Pad Site With Drive-Through | Located on the Outparcel to a Walmart-Anchored Supercenter | Tenant Is Paying Well Below Market Rent in a High-Barrier-to-Entry Location
  • Upcoming Rent Increase in 2024 Raises Entry Cap Rate to 5.83%
  • Tenant Has Repeatedly Raised Their Rents Over the Course of Their Tenancy
  • Over Five Years of Lease Term Remaining on Absolute Net Ground Lease — Zero Landlord Responsibilities
  • Surrounded by Best in Class National Retail Tenants, Including Walmart, Best Buy, Ulta Beauty, Sam's Club, TJ Maxx, Michael's, Five Guys, Men's Wearhouse, Old Navy and Numerous Others

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Listing Price: $1,086,715

Cap Rate
5.50%
Tenant Name
UP Properties II, LLC
Years Remaining On Lease
5.1
Gross SF
3,360
Guarantor
Franchisee Guarantee
Rentable SF
3,360
Price/Gross SF
$323.43
Lease Type
Ground Lease
Rent Per Square Feet
$17.79

Investment Highlights

  • Long-Term Fazoli's Location | Tenant Has Operated at the Location for 24+ Years and Recently Exercised a Renewal Option at an Increased Rent
  • Highly Desirable QSR Pad Site With Drive-Through | Located on the Outparcel to a Walmart-Anchored Supercenter | Tenant Is Paying Well Below Market Rent in a High-Barrier-to-Entry Location
  • Upcoming Rent Increase in 2024 Raises Entry Cap Rate to 5.83%
  • Tenant Has Repeatedly Raised Their Rents Over the Course of Their Tenancy
  • Over Five Years of Lease Term Remaining on Absolute Net Ground Lease — Zero Landlord Responsibilities
  • Surrounded by Best in Class National Retail Tenants, Including Walmart, Best Buy, Ulta Beauty, Sam's Club, TJ Maxx, Michael's, Five Guys, Men's Wearhouse, Old Navy and Numerous Others

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in the land under a Fazoli’s in Wausau, WI, in which the tenant has just executed a five-year lease renewal on their previously extended 20-year ground lease. There are zero landlord responsibilities, and one 5-year option to renew remaining. The 3,360-square-foot building is positioned on an out pad to a Kohl’s-anchored shopping center on Rib Mountain Drive, with visibility to 13,400 vehicles per day. The Property also has convenient access to U.S. Highway 51, state Route 29 and Interstate 39 toward downtown Wausau. Other tenants within the shopping center include Sam’s Club, T.J. Maxx, Walmart Supercenter, Best Buy, Five Guys, PetSmart, Michaels, Old Navy, Hobby Lobby and numerous other national retailers. The Property is unique in that it sits right on the bank of the Wisconsin River and is adjacent to the 1,528-acre Rib Mountain State Park, known for its ski resort, hiking trails, amphitheater and other tourist attractions.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s): WI: 56163-90

    Wisconsin

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