Restaurant

Wendy's

Listing Price: $2,114,286

Cap Rate
5.25%
Tenant Name
Meritage Hospitality Group
Gross SF
2,376
Guarantor
Franchisee Guarantee
Rentable SF
2,376
Price/Gross SF
$889.85
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$46.72

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendys located at 2675 Willowcreek Road in Portage, IN. The property consists of 2,376 square feet of building space and is situated on approximately 2.34 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

  • Newly Remodeled Buildout
  • Situated on the Hard Corner of an Intersection
  • Less Than 30 Miles From Chicago |About Three Miles From Lake Michigan

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

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

    Manhattan

Listing Price: $2,114,286

Cap Rate
5.25%
Tenant Name
Meritage Hospitality Group
Gross SF
2,376
Guarantor
Franchisee Guarantee
Rentable SF
2,376
Price/Gross SF
$889.85
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$46.72

Investment Highlights

  • Newly Remodeled Buildout
  • Situated on the Hard Corner of an Intersection
  • Less Than 30 Miles From Chicago |About Three Miles From Lake Michigan

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendys located at 2675 Willowcreek Road in Portage, IN. The property consists of 2,376 square feet of building space and is situated on approximately 2.34 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

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