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Restaurant

Wendy's

2510 W Hundred Rd, Chester, VA 23831

Listing Price: $2,689,156

Cap Rate
4.50%
Tenant Name
Wendy's
Years Remaining On Lease
18.6
Guarantor
Franchisee Guarantee
Rentable SF
3,457
Lease Type
Absolute Net
Rent Per Square Feet
$35.00

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Wendy’s a single-tenant property located at 2510 West Hundred Road, Richmond (Chester), Virginia 23831. The subject property is comprised of 3,457 square feet, built-in 1984, and will be remodeled in 2022. The building sits just off Hundred Road which oversees 38,125 Vehicles Per Day. Wendy’s is located in a major corridor near a major intersection and is surrounded by national tenants. Wendy’s operates on an absolute-net lease backed by a 44 unit franchisee and a 22 unit guaranty with 19 years remaining. At the end of the initial term, Wendy’s will have five, five-year options to extend. The lease calls for 10% increases every 5-years including the options. The Wendy’s Company (NASDAQ: WEN) is the world’s third-largest quick-service hamburger company. Founded in 1969, the Wendy’s system includes more than 6,800 franchise and Company Restaurants across the United State and 29 countries worldwide. As of 2021, Wendy’s is the #2 hamburger chain in the United States by sales behind McDonald’s. Wendy’s system sales increased by 4.8% last year to $10.2 billion, while Burger King sales dropped by 5.4% to $9.6 billion. The Company achieved its two highest quarterly Global same-restaurant sales results in over 15 years, while also launching their highly successful breakfast menu. Wendy’s reported global sales of $11.339 Million, up from $1.709 Billion in 2019, and continued to exhibit robust growth with 147 restaurants opened in 2020.

Investment Highlights

  • Absolute-Net Lease: 19 Years Remaining with 10% Increases Every 5 Years; Including Each of the Five, 5 Year Options to Extend.
  • 44 Unit Franchisee / 22 Unit Guaranty: Lease is Backed by Wen-Gap, LLC.
  • Fantastic Operating History: The Property has been Operating as a Wendy's Since 1984 and will Undergo a Complete Remodel in 2022.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Listing Price: $2,689,156

Cap Rate
4.50%
Tenant Name
Wendy's
Years Remaining On Lease
18.6
Guarantor
Franchisee Guarantee
Rentable SF
3,457
Lease Type
Absolute Net
Rent Per Square Feet
$35.00

Investment Highlights

  • Absolute-Net Lease: 19 Years Remaining with 10% Increases Every 5 Years; Including Each of the Five, 5 Year Options to Extend.
  • 44 Unit Franchisee / 22 Unit Guaranty: Lease is Backed by Wen-Gap, LLC.
  • Fantastic Operating History: The Property has been Operating as a Wendy's Since 1984 and will Undergo a Complete Remodel in 2022.

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Wendy’s a single-tenant property located at 2510 West Hundred Road, Richmond (Chester), Virginia 23831. The subject property is comprised of 3,457 square feet, built-in 1984, and will be remodeled in 2022. The building sits just off Hundred Road which oversees 38,125 Vehicles Per Day. Wendy’s is located in a major corridor near a major intersection and is surrounded by national tenants. Wendy’s operates on an absolute-net lease backed by a 44 unit franchisee and a 22 unit guaranty with 19 years remaining. At the end of the initial term, Wendy’s will have five, five-year options to extend. The lease calls for 10% increases every 5-years including the options. The Wendy’s Company (NASDAQ: WEN) is the world’s third-largest quick-service hamburger company. Founded in 1969, the Wendy’s system includes more than 6,800 franchise and Company Restaurants across the United State and 29 countries worldwide. As of 2021, Wendy’s is the #2 hamburger chain in the United States by sales behind McDonald’s. Wendy’s system sales increased by 4.8% last year to $10.2 billion, while Burger King sales dropped by 5.4% to $9.6 billion. The Company achieved its two highest quarterly Global same-restaurant sales results in over 15 years, while also launching their highly successful breakfast menu. Wendy’s reported global sales of $11.339 Million, up from $1.709 Billion in 2019, and continued to exhibit robust growth with 147 restaurants opened in 2020.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

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