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Restaurant

Wendy's - Grand Rapids, MI

3922 Lake Michigan Dr NW, Grand Rapids, MI 49534

Listing Price: $2,730,000

Cap Rate
5.00%
Tenant Name
Wendy's
Years Remaining On Lease
14.0
Guarantor
Franchisee Guarantee
Rentable SF
3,835
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$35.59

Investment Overview

Strong Brand Recognition | Strategic Location * Proven Location with the Tenant Occupying this Site Since 2015 After a Significant Remodel (Estimated Cost: $800,000 - $1,200,000) * Wendy’s Has Over 6,600 Locations with Revenue Exceeding $1.2 Billion Annually | Meritage Hospitality Group (OTC: MHGU) is One of the Largest Wendy’s Operators with Over 11,000 Employees and 350+ Locations * Strong Brand Recognition and Strategic Location – Located on a Main Retail Throughfare with Direct Access to Downtown Grand Rapids, MI * Highly Visible Signage with Strong Frontage on Lake Michigan Drive NW * Located Just 5 Miles from Downtown Grand Rapids Strong Real Estate Fundamentals * Grand Rapids is the County Seat of Kent County and is the Second Largest City in Michigan – Grand Rapids has a Population of Nearly 200,000 People * Located on a Main Retail Thoroughfare – Nearby Credit Tenants Include Meijer, a Recently Constructed ALDI, Taco Bell, McDonald’s, Walgreens, Dollar General, and Many More * Large ±1.36 Acre Parcel * Dense, Infill Area – Over 117,000 Residents Within 5 Miles of the Subject Property |Strong Average Household Income of $80,664 Within Three Miles

Investment Highlights

  • Over 14 Years Remaining on Absolute NNN Lease Zero Landlord Responsibilities
  • Strong Guarantee from Meritage Hospitality Group, a 350+ Unit Operator Who is Headquartered in Grand Rapids, MI Just 5 Miles from the Subject Property
  • Prominent Location on Lake Michigan Drive NW – Traffic Counts Exceed 32,300 Cars Per Day

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Listing Price: $2,730,000

Cap Rate
5.00%
Tenant Name
Wendy's
Years Remaining On Lease
14.0
Guarantor
Franchisee Guarantee
Rentable SF
3,835
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$35.59

Investment Highlights

  • Over 14 Years Remaining on Absolute NNN Lease Zero Landlord Responsibilities
  • Strong Guarantee from Meritage Hospitality Group, a 350+ Unit Operator Who is Headquartered in Grand Rapids, MI Just 5 Miles from the Subject Property
  • Prominent Location on Lake Michigan Drive NW – Traffic Counts Exceed 32,300 Cars Per Day

Investment Overview

Strong Brand Recognition | Strategic Location * Proven Location with the Tenant Occupying this Site Since 2015 After a Significant Remodel (Estimated Cost: $800,000 - $1,200,000) * Wendy’s Has Over 6,600 Locations with Revenue Exceeding $1.2 Billion Annually | Meritage Hospitality Group (OTC: MHGU) is One of the Largest Wendy’s Operators with Over 11,000 Employees and 350+ Locations * Strong Brand Recognition and Strategic Location – Located on a Main Retail Throughfare with Direct Access to Downtown Grand Rapids, MI * Highly Visible Signage with Strong Frontage on Lake Michigan Drive NW * Located Just 5 Miles from Downtown Grand Rapids Strong Real Estate Fundamentals * Grand Rapids is the County Seat of Kent County and is the Second Largest City in Michigan – Grand Rapids has a Population of Nearly 200,000 People * Located on a Main Retail Thoroughfare – Nearby Credit Tenants Include Meijer, a Recently Constructed ALDI, Taco Bell, McDonald’s, Walgreens, Dollar General, and Many More * Large ±1.36 Acre Parcel * Dense, Infill Area – Over 117,000 Residents Within 5 Miles of the Subject Property |Strong Average Household Income of $80,664 Within Three Miles

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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