Wendy’s 13+ Year NNN Lease | Kalamazoo County

4301 W Centre Ave, Portage, MI 49024, USA
$2,300,000

Description

Marcus & Millichap is pleased to present for sale this 3,378 square foot Wendy’s Fast Food Restaurant with Drive Thru located in Portage, Michigan. In 2013, Meritage Hospitality Group, one
of the largest Wendy’s Franchisees, signed a 20 Year Lease with 5% Increases in Rent Every 5 Years during the base term and the options. This Wendy’s is situated on a large 1.49 Acre Parcel
and is visible to more than 27,275 Vehicles Per Day.
Wendy’s is an international fast food restaurant chain founded by Dave Thomas on November 15, 1969 in Columbus, Ohio, United States. As of January 2019, there were a total of 6,711 locations,
including 353 that are company-owned. 6,358 restaurants are franchised, and 77 percent of them are located in North America. (In 2016, Wendy’s was the world’s third largest hamburger fast
food chain, following Burger King’s 12,000 plus locations and McDonald’s with over 31,000 plus locations.)

  • Absolute NNN Wendy’s (No Landlord Responsibility) with more than 13 Years Remaining on base term of the lease and Six (5 Year) Options to Renew
  • Operated and Backed by Meritage Hospitality Group (MHGU) – Publicly Traded
  • Affluent Demographics: Household Income Exceeds $121,000 in a One Mile Radius
  • Minutes Away from Ascension Borgess Hospital with 371 Beds
  • Situated on a Large 1.49 Acre Parcel of Land – Excellent Intrinsic Value – Right off the Highway 131 Exit to Centre Ave

Property Documents

  • City: Portage
  • State/county: Michigan
  • Zip/Postal Code: 49024
  • Country: United States

Detail

  • Price: $2,300,000
  • Year Built: 2003

Additional details

  • CAP RATE: 5.20%
  • NOI: $119,724

Features