Restaurant

Wendy's

Listing Price: $1,557,000

Cap Rate
5.35%
Tenant Name
Meritage Hospitality Group
Years Remaining On Lease
13.30
Gross SF
2,674
Guarantor
Subsidiary of a Corporation
Rentable SF
2,674
Price/Gross SF
$582.27
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.15

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendys located at 1175 Dunn Avenue, Jacksonville, Florida. The property consists of 2,674 square feet of building space and is situated on roughly 0.84 acres of land. The Wendys is subject to a 20-year modified triple net (NNN) lease, which commenced on December 31, 2013. The current annual rent is $89,250. The lease will call for rental increases that will be equal to the lessor of the change in CPI or 5.00% every five years. The rental increases will continue through the base term and into the six, five-year tenant renewal options.

Investment Highlights

  • 20-Year Modified Triple Net (NNN) Lease with 13.3 Years Remaining
  • Passive Investment Offering a Long-Term Security of Cash Flow
  • Lease Guaranteed by an Entity of Meritage Hospitality Group

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: $1,557,000

Cap Rate
5.35%
Tenant Name
Meritage Hospitality Group
Years Remaining On Lease
13.30
Gross SF
2,674
Guarantor
Subsidiary of a Corporation
Rentable SF
2,674
Price/Gross SF
$582.27
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.15

Investment Highlights

  • 20-Year Modified Triple Net (NNN) Lease with 13.3 Years Remaining
  • Passive Investment Offering a Long-Term Security of Cash Flow
  • Lease Guaranteed by an Entity of Meritage Hospitality Group

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Wendys located at 1175 Dunn Avenue, Jacksonville, Florida. The property consists of 2,674 square feet of building space and is situated on roughly 0.84 acres of land. The Wendys is subject to a 20-year modified triple net (NNN) lease, which commenced on December 31, 2013. The current annual rent is $89,250. The lease will call for rental increases that will be equal to the lessor of the change in CPI or 5.00% every five years. The rental increases will continue through the base term and into the six, five-year tenant renewal options.

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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