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Restaurant

Wendy’s

90 Elm St, Enfield, CT 06082

Listing Price: $3,092,784

Cap Rate
4.85%
Tenant Name
Meritage Hospitality Group
Gross SF
2,280
Guarantor
Franchisee Guarantee
Rentable SF
2,280
Price/Gross SF
$1,356.48
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$65.79

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendys located at 90 Elm Street in Enfield, CT. The property consists of 2,280 square feet of building space and is situated on approximately 1.11 acre 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 Wendys system.

Investment Highlights

  • Seller is Willing to Commit to a Remodel Prior to YE 2024
  • Brand New 20-Year Sale Leaseback
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities

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

  • John Krueger

    Vice President / Regional Manager

    (203) 672-3300

    License(s) CT: REB.0752012

    Connecticut

Listing Price: $3,092,784

Cap Rate
4.85%
Tenant Name
Meritage Hospitality Group
Gross SF
2,280
Guarantor
Franchisee Guarantee
Rentable SF
2,280
Price/Gross SF
$1,356.48
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$65.79

Investment Highlights

  • Seller is Willing to Commit to a Remodel Prior to YE 2024
  • Brand New 20-Year Sale Leaseback
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendys located at 90 Elm Street in Enfield, CT. The property consists of 2,280 square feet of building space and is situated on approximately 1.11 acre 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 Wendys 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

  • John Krueger

    Vice President / Regional Manager

    (203) 672-3300

    License(s): CT: REB.0752012

    Connecticut

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