Wendy’s 20 Year NNN Lease | $100,000+ Average Household Income

3191 Gulf Breeze Pkwy, Gulf Breeze, FL 32563, USA
$2,349,845

Description

Marcus & Millichap is pleased to present for sale this Wendy’s Fast Food Restaurant located at 3191 Gulf Breeze Parkway in Gulf Breeze, Florida. At closing, the tenant will sign a 20-Year Absolute NNN Lease with 7.5 percent increases in rent every five years. This Wendy’s with a drive thru is located on busy Gulf Breeze Parkway only a short drive from Gulf Breeze Hospital with 65 Beds and Baptist Health Hospital with 326 Beds. This Wendy’s is located minutes from Gulf Breeze Zoo with 50 acres of 900 exotic animals and thousands of visitors each year. Retailers in the immediate area include CVS, Wal Mart, Lowe’s, Winn-Dixie, Beall’s, Dollar Tree and Walgreens.
Gulf Breeze is a city in Santa Rosa County Florida and a suburb of Pensacola and the Pensacola Metropolitan Area. Its population is 6,716 and it is an affluent bedroom community with the highest
Household Income in the Metropolitan Pensacola Area. It is located North of Pensacola Beach and south of Pensacola.
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.)

  • Wendy’s 20-Year Absolute NNN Lease with 7.5% Increases Every 5 Years in Rent
  • Fee Simple Lease Allowing for Depreciation
  • Complete Store Remodel Scheduled for 2022
  • Gulf Breeze has the Highest Household Income in the Metropolitan Area | Average Household Income Exceeds $113,000 in a 3 Mile Radius
  • Located Eight minutes from Baptist Hospital in operation since 1951 with 326 Beds and Nine minutes from Pensacola State College with 9,643 Students
  • Wendy’s is considered an Essential Tenant
  • Florida is a No Income Tax State

Property Documents

  • City: Gulf Breeze
  • State/county: Florida
  • Zip/Postal Code: 32563
  • Country: United States

Detail

  • Price: $2,349,845
  • Year Built: 1997

Additional details

  • CAP RATE: 4.65%
  • NOI: $109,268

Features