Restaurant
Wendy's – Prime Location, 1.5 Miles from 51,000-Seat Raceway
2200 E Laburnum Ave, Richmond, VA 23222
Listing Price: $2,500,000
Cap Rate
5.06%
Tenant Name
Wendy's
Years Remaining On Lease
15.7
Gross SF
3,025
Guarantor
Franchisee Guarantee
Rentable SF
3,025
Price/Gross SF
$826.45
Lease Type
Absolute Net
Rent Per Square Feet
$41.89
Investment Overview
2200 E Laburnum Ave., Richmond, VA
Wendy's – Prime Location, 1.5 Miles from 51,000-Seat Raceway
Investment Highlights
- ABSOLUTE-NET: 20 Year Lease with 10% Increases Every 5 Years; Including Each of the Five, 5 Year Options to Extend the Term — 15.75 Years Remain.
- 44 UNIT FRANCHISEE | 19 UNIT GUARANTY: Lease is Backed by Wen-Gap West, LLC.
- EXCELLENT VISIBILITY & EASE OF ACCESS: The Property is Well Situated on a Major Retail Corridor with Frontage and Access on East Laburnum Avenue (27,000 Vehicles Per Day) and Hwy 360 (35,000 VPD).
- 1.5 MILES FROM RICHMOND RACEWAY | 51,000 SPECTATORS: Home of the Toyota Owners 400 which is apart of the Nascar Cup Series - Richmond Raceway has Capacity of 51,000 Spectators.
- FANTASTIC OPERATING HISTORY | 40 YEARS AT LOCATION: Wendy's has 40+ Years of Operation at this Location and Tenant Plans to Complete a Full Remodel in 2025.
Exclusively Listed By
Broker of Record
-
Brian Hosey
Senior Vice President/Division Manager
Financing By
Restaurant
Wendy's – Prime Location, 1.5 Miles from 51,000-Seat Raceway
Listing Price: $2,500,000
Cap Rate
5.06%
Tenant Name
Wendy's
Years Remaining On Lease
15.7
Gross SF
3,025
Guarantor
Franchisee Guarantee
Rentable SF
3,025
Price/Gross SF
$826.45
Lease Type
Absolute Net
Rent Per Square Feet
$41.89
Investment Highlights
- ABSOLUTE-NET: 20 Year Lease with 10% Increases Every 5 Years; Including Each of the Five, 5 Year Options to Extend the Term — 15.75 Years Remain.
- 44 UNIT FRANCHISEE | 19 UNIT GUARANTY: Lease is Backed by Wen-Gap West, LLC.
- EXCELLENT VISIBILITY & EASE OF ACCESS: The Property is Well Situated on a Major Retail Corridor with Frontage and Access on East Laburnum Avenue (27,000 Vehicles Per Day) and Hwy 360 (35,000 VPD).
- 1.5 MILES FROM RICHMOND RACEWAY | 51,000 SPECTATORS: Home of the Toyota Owners 400 which is apart of the Nascar Cup Series - Richmond Raceway has Capacity of 51,000 Spectators.
- FANTASTIC OPERATING HISTORY | 40 YEARS AT LOCATION: Wendy's has 40+ Years of Operation at this Location and Tenant Plans to Complete a Full Remodel in 2025.
Investment Overview
2200 E Laburnum Ave., Richmond, VA
Exclusively Listed By
Broker of Record
-
Brian Hosey
Senior Vice President/Division Manager
Financing By
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