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.