Skip to main content

Restaurant

Wendy's

614 S State St, Big Rapids, MI 49307

Listing Price: $2,745,098

Cap Rate
5.10%
Tenant Name
Meritage Hospitality Group
Years Remaining On Lease
19.9
Guarantor
Franchisee Guarantee
Rentable SF
3,185
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$43.96

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendy’s located at 614 S State Street in Big Rapids, MI. The property consists of 3,185 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 3. 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 337 unit operator and the second largest franchisee in the Wendy’s system

Investment Highlights

  • Brand New 20-Year Sale Leaseback
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases | Lesser of Change in CPI or One and a Quarter Percent (1.25%) Annually Starting in Year 3

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Listing Price: $2,745,098

Cap Rate
5.10%
Tenant Name
Meritage Hospitality Group
Years Remaining On Lease
19.9
Guarantor
Franchisee Guarantee
Rentable SF
3,185
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$43.96

Investment Highlights

  • Brand New 20-Year Sale Leaseback
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases | Lesser of Change in CPI or One and a Quarter Percent (1.25%) Annually Starting in Year 3

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendy’s located at 614 S State Street in Big Rapids, MI. The property consists of 3,185 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 3. 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 337 unit operator and the second largest franchisee in the Wendy’s system

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

MM Texture Background
MM Textured Background Lower