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Wendy’s – 15 Year NNN Lease – Hard Corner Signalized Intersection

949 N Wesleyan Blvd, Rocky Mount, NC 27804, USA
$4,616,766

Description

Marcus & Millichap is pleased to present for sale this absolute net leased, newly remodeled Wendy’s located at 949 North Wesleyan Boulevard in Rocky Mount, North Carolina.
The subject property consists of a 3,138 square foot restaurant, with drive up window and ample parking on a large 0.95-acreparcel of land and is strategically located at the signalized intersection of North Wesleyan Boulevard and Sutter’s Creek Boulevard, with a combined daily traffic counts exceeding 37,900 vehicles per day. The property benefits from close to 59,095 full time residences with a house hold income exceeding $67,748 annually.
There are currently 15 years remaining on the original 20 Year lease with 10 percent increases every five years, including the four five-year option periods.
There are numerous National and Regional retailers in the immediate area including Target, Starbucks, Walmart, Red Lobster, McDonalds, Toyota, Lidl, Golden Corral, Big Lots, Rainbow, Joann, Subway, Verizon and Tractor Supply Co. among others.
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 2017, there were a total of 6,537 locations,
including 330 that are company-owned. 6,207 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.)

  • Newly Remodeled Wendy’s with 15 Years remaining on the Base Term Of the Lease
  • Very Rare, Strong Corporate Guarantee from NPC International (+/-1,599 Restaurants)
  • NPC (Tenant) Operates more than 386 Wendy’s Units in 8 States and 1,213 Pizza Hut Units in 27 States
  • Strong 10% Increases in rent Every 5 Years during the base term and the options
  • Hard Corner Signalized Intersection – Large .96 Acre Lot
  • Absolute NNN Lease – No Landlord Responsibilities
  • Situated half a mile from the US Hwy 64 Exit (N Wesleyan Blvd) at the Entrance to a Big Lots/Tractor Supply Anchored Shopping Center

Property Documents

  • City: Rocky Mount
  • State/county: North Carolina
  • Zip/Postal Code: 27804
  • Country: United States

Detail

  • Price: $4,616,766

Additional details

  • CAP Rate: 5.00%
  • NOI: $230,838

Features