Restaurant

Wendy's

301 W Hively Ave, Elkhart , IN 46517

Listing Price: $2,181,818

Cap Rate
5.50%
Tenant Name
Meritage Hospitality Group
Gross SF
2,400
Guarantor
Franchisee Guarantee
Rentable SF
2,400
Price/Gross SF
$909.09
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.00

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendy's located at 301 W Hively Ave in Elkhart, IN. The property consists of 2,400 square feet of building space and is situated on approximately 0.64-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 percent annually starting in year three. 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 318-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
  • Rental Increases of Lesser of Change in CPI or 1.25% Annually Starting Year Three
  • Meritage Hospitality Group is an Experienced 318-Unit Operator

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

  • Josh Caruana

    First Vice President/Regional Manager

    License(s): IN: RB14034355

    Indiana

Listing Price: $2,181,818

Cap Rate
5.50%
Tenant Name
Meritage Hospitality Group
Gross SF
2,400
Guarantor
Franchisee Guarantee
Rentable SF
2,400
Price/Gross SF
$909.09
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.00

Investment Highlights

  • Brand New 20-Year Sale Leaseback
  • Triple-Net (NNN) Lease with Zero Landlord Responsibilities
  • Rental Increases of Lesser of Change in CPI or 1.25% Annually Starting Year Three
  • Meritage Hospitality Group is an Experienced 318-Unit Operator

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendy's located at 301 W Hively Ave in Elkhart, IN. The property consists of 2,400 square feet of building space and is situated on approximately 0.64-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 percent annually starting in year three. 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 318-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

  • Josh Caruana

    First Vice President/Regional Manager

    License(s): IN: RB14034355

    Indiana

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