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Restaurant

Wendy's - 20-Year Sale Leaseback Meritage Hospitality Group | Full Remodel

4343 Patterson Ave SE, Kentwood, MI 49512

Listing Price: $2,570,000

Cap Rate
5.25%
Tenant Name
Wendy's
Gross SF
3,297
Guarantor
Franchisee Guarantee
Rentable SF
3,297
Price/Gross SF
$779.50
Lease Type
Absolute Net
Rent Per Square Feet
$40.95

Investment Overview

Prime Retail Location

- Located Near the Intersection of 44th St and Patterson Ave (Combined Traffic Counts Exceed 47,000 Cars Per Day)

- The Subject Property boasts an Expansive 1.5-Acre Lot, Providing Ample Space for 66 Parking Spots

- Located Next to the Gerald R. Ford International Airport

- Population During the Daytime More than Doubles Due to the Massive Workforce in the Immediate Area Which Provides a Large Customer Base

Experienced Franchisee

- Absolute NNN Property with Zero Landlord Responsibilities – Ideal for Investors Not Local to the Market

- Meritage Hospitality Group is One of the Largest Wendy’s Franchisee’s in the Country with Over 380 Locations in 16 States

- Strong Performing Restaurant with Increasing Sales (Please Contact Agent for More Details)

- Scheduled 1.5% Annual Rental Increases Throughout the Initial Term Provide for an Excellent Hedge Against Inflation

Pride of Property Ownership in Grand Rapids, MI

- Dense, Infill Location with Over 113,000 Residents within 5 Miles, Creating a Large Customer Base

- Affluent Area with the Average Household Income Exceeding $102,000 within 5 Miles

Investment Highlights

  • Introducing a New, 20-Year Wendy's Sale-Leaseback
  • Full Remodel Scheduled for June 2024
  • Located at Entry to Gerald R. Ford International Airport Serving Over 3 Million Passengers Each Year

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Restaurant

Wendy's - 20-Year Sale Leaseback Meritage Hospitality Group | Full Remodel

Listing Price: $2,570,000

Cap Rate
5.25%
Tenant Name
Wendy's
Gross SF
3,297
Guarantor
Franchisee Guarantee
Rentable SF
3,297
Price/Gross SF
$779.50
Lease Type
Absolute Net
Rent Per Square Feet
$40.95

Investment Highlights

  • Introducing a New, 20-Year Wendy's Sale-Leaseback
  • Full Remodel Scheduled for June 2024
  • Located at Entry to Gerald R. Ford International Airport Serving Over 3 Million Passengers Each Year

Investment Overview

Prime Retail Location - Located Near the Intersection of 44th St and Patterson Ave (Combined Traffic Counts Exceed 47,000 Cars Per Day) - The Subject Property boasts an Expansive 1.5-Acre Lot, Providing Ample Space for 66 Parking Spots - Located Next to the Gerald R. Ford International Airport - Population During the Daytime More than Doubles Due to the Massive Workforce in the Immediate Area Which Provides a Large Customer Base Experienced Franchisee - Absolute NNN Property with Zero Landlord Responsibilities – Ideal for Investors Not Local to the Market - Meritage Hospitality Group is One of the Largest Wendy’s Franchisee’s in the Country with Over 380 Locations in 16 States - Strong Performing Restaurant with Increasing Sales (Please Contact Agent for More Details) - Scheduled 1.5% Annual Rental Increases Throughout the Initial Term Provide for an Excellent Hedge Against Inflation Pride of Property Ownership in Grand Rapids, MI - Dense, Infill Location with Over 113,000 Residents within 5 Miles, Creating a Large Customer Base - Affluent Area with the Average Household Income Exceeding $102,000 within 5 Miles

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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