Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute Net Leased Wendy’s located at 343 Folly Road in Charleston, South Carolina, just 10 minutes from Downtown Charleston. The subject property consists of a 2,317 SF freestanding building with a drive-thru and is situated on a .89- acre parcel of land. This property is situated on Folly Road which benefits from daily traffic counts exceeding 30,600. The property is also immediately surrounded by other national and regional retailers including CVS, Arby’s, Lowe’s, Wells Fargo, Ihop, Publix, Firestone, Bank of America, and numerous others. Also nearby the property are many apartment complexes including 35 Folly Apartments, The Standard James Island, Overture West Ashley, Sawgrass Apartments. 10 West Edge, Aspire, 61 Vandy and Hofler Place Apartments. Brand new home developments in the area include Stanley Martin Homes at Indigo, Stanley Martin Homes at Stonoview, Lennar at Stonoview, Lani Village by Huunter Quinn Homes, and Johns River Creek at The Cottages Commencing in December of 2024, the Wendy’s lease will feature 20 years of primary term with attractive 7.5 percent rent increases every 5-years, including in each of the four 5-year renewal options. Wendy’s Company is an American parent company for the major fast food chain Wendy’s. It is headquartered in Dublin, Ohio and the company’s principal subsidiary in Wendy’s International, the franchisor of Wendy’s restaurants. There are 5,938 locations in the United States, and 1,006 International for a total of 6,949 locations. It’s U.S. Revenue in 2022 was $2.2 Billion.