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Restaurant

Wendy's

135 Tate Ln, Saint Johns, FL 32259

Listing Price: $3,000,000

Cap Rate
4.75%
Tenant Name
Meritage Hospitality Group
Guarantor
Franchisee Guarantee
Rentable SF
2,350
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$60.64

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendy’s located at 135 Tate Lane in St. Johns, FL. The property consists of 2,350 square feet of building space and is situated on approximately 1.21 acres of land. The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the day following the close of escrow. The lease will call for rental increases that will be the lesser of the change in CPI or 1.25% annually starting in year three. The rental increases will continue through the base term and into the six, five-year tenant renewal options. The lease will carry a guaranty from Meritage Hospitality Group, an experienced 345+ unit operator and the largest franchisee in the Wendy’s system.

Investment Highlights

  • Brand New 20-Year Sale-Leaseback
  • 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 Three

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

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Listing Price: $3,000,000

Cap Rate
4.75%
Tenant Name
Meritage Hospitality Group
Guarantor
Franchisee Guarantee
Rentable SF
2,350
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$60.64

Investment Highlights

  • Brand New 20-Year Sale-Leaseback
  • 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 Three

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendy’s located at 135 Tate Lane in St. Johns, FL. The property consists of 2,350 square feet of building space and is situated on approximately 1.21 acres of land. The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the day following the close of escrow. The lease will call for rental increases that will be the lesser of the change in CPI or 1.25% annually starting in year three. The rental increases will continue through the base term and into the six, five-year tenant renewal options. The lease will carry a guaranty from Meritage Hospitality Group, an experienced 345+ unit operator and the largest franchisee in the Wendy’s system.

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

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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