Restaurant
Wendy's - Queens (NYC) Net-Leased
57-18 Myrtle Ave, Ridgewood, NY 11385
Listing Price: $2,180,000
Investment Overview
The subject offering is a 4,241 SF single tenant retail building located on Myrtle Avenue in Ridgewood, Queens. The building is 100% occupied by Wendy’s, which has just over 18 years left on a NN lease that began in August of 2021. Wendy’s lease runs through February of 2042. There are 3% annual increases for the first 5 years of the lease and then a 10% increase every 5 years for the remainder of the lease. The landlord is responsible for paying the building’s insurance, as well as all repairs and maintenance to the roof and structure, and 100% of taxes before base year of 2021-2022. The tenant is responsible for all other expenses and pays 100% of the real estate taxes above the 2021-2022 base year.
The property has 20 feet of frontage on Myrtle Avenue and is five blocks (five-minute walk) to the Seneca Avenue Train Station (M Train). The building is built 20 ft x 76.75 ft. It rests on a 1,684 SF lot 20 ft x 90 ft (Irregular), that is zoned C4-3A. Wendy’s currently occupies the entire building which included dining on the second floor and a third-floor office.
This is a unique opportunity to acquire a single tenant retail building with one of the largest fast-food names in the country. The investment offers instant cash-flow and minimum management in one of Queens premier neighborhoods.
Wendy's - Queens (NYC) Net-Leased
Investment Highlights
- Incredibly Rare Single-Tenant Net-Leased QSR Deal in New York City. 4,241 SF three-story building on a net-leased with Wendy's through 2042.
- Wendy's has a Modified Gross Lease with 3% Annual Increases for the First Five Years, and Then 10% Increases Every Five Years Thereafter.
- Located on the Best Retail Corridor in Ridgewood (Queens). The Asset is Surrounded by Local and National Retailers. Minimal Management Retail Asset.
Exclusively Listed By
Listing Price: $2,180,000
Investment Highlights
- Incredibly Rare Single-Tenant Net-Leased QSR Deal in New York City. 4,241 SF three-story building on a net-leased with Wendy's through 2042.
- Wendy's has a Modified Gross Lease with 3% Annual Increases for the First Five Years, and Then 10% Increases Every Five Years Thereafter.
- Located on the Best Retail Corridor in Ridgewood (Queens). The Asset is Surrounded by Local and National Retailers. Minimal Management Retail Asset.
Investment Overview
The subject offering is a 4,241 SF single tenant retail building located on Myrtle Avenue in Ridgewood, Queens. The building is 100% occupied by Wendy’s, which has just over 18 years left on a NN lease that began in August of 2021. Wendy’s lease runs through February of 2042. There are 3% annual increases for the first 5 years of the lease and then a 10% increase every 5 years for the remainder of the lease. The landlord is responsible for paying the building’s insurance, as well as all repairs and maintenance to the roof and structure, and 100% of taxes before base year of 2021-2022. The tenant is responsible for all other expenses and pays 100% of the real estate taxes above the 2021-2022 base year. The property has 20 feet of frontage on Myrtle Avenue and is five blocks (five-minute walk) to the Seneca Avenue Train Station (M Train). The building is built 20 ft x 76.75 ft. It rests on a 1,684 SF lot 20 ft x 90 ft (Irregular), that is zoned C4-3A. Wendy’s currently occupies the entire building which included dining on the second floor and a third-floor office. This is a unique opportunity to acquire a single tenant retail building with one of the largest fast-food names in the country. The investment offers instant cash-flow and minimum management in one of Queens premier neighborhoods.
Exclusively Listed By
