Investment Overview

Marcus & Millichap is the exclusive listing agent for the Wendy’s located in Satellite Beach, Florida along East Eau Gallie Boulevard. The property was constructed in 1977 and remodeled in 2019. Currently there are more than 12 years remaining on the Absolute NNN lease which is guaranteed by a regional franchisee (916 Foods – Florida entity which is 27 total stores). 916 Foods also operates an additional 57 stores in Texas. The property is ideally situated along a busy east-west thoroughfare (Eau Gallie Blvd) which sees over 23,000 vehicles per day. Other retails in the immediate area that also drive traffic to the corridor include Publix, Walmart, Michael’s, Ross, and Bealls. The lease includes a scheduled 26% rent bump in 2028 (see rent schedule for more details). Satellite Beach, Florida is a coastal city in Brevard County with a stable, high-skilled economy driven largely by aerospace, defense, and professional services, complemented by neighborhood-scale retail and tourism-oriented activity. The area’s economy is closely tied to the broader Space Coast aerospace and defense corridor. Key drivers include Patrick Space Force Base, which is the largest local employer, along with major contractors such as Northrop Grumman and Collins Aerospace. Nearby NASA's Kennedy Space Center further strengthens the regional economy and provides high-wage technical employment. Franchisee Profile: 916 Foods Ops LLC is a franchisee of Wendy's operating multiple locations, particularly in Texas and Florida. The company was involved in a 2021/2022 acquisition of former MUY! Hamburger Partners locations in Texas and has been actively building new stores with a total of 57 restaurants now in Texas. In 2024, 916 Foods purchased an additional 27 stores in Florida and currently operate approximately 84 total restaurants.