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Wendy’s 20 Year NNN Lease | 2019 Construction

4600 South State Road 7, Fort Lauderdale, FL 33314, USA
$3,157,894.47

Description

Marcus & Millichap is pleased to offer for sale this brand new construction absolute net leased Wendy’s located at 4600 South State Road 7 in Hollywood, Florida. Construction is set to be complete by September 2019.
The subject property consists of a 2,562 square foot restaurant with a drive up window and ample parking on a 0.76-acreparcel on busy State Road 7. This Wendy’s is situated next to a brand new Wawa, a 177 unit apartment building, and a 60,000 Square Foot Self Storage Facility. This is a dense, affluent market, with a full time population exceeding 312,776 and an average household income of $75,314 annually. This Wendy’s is situated at the Griffin Road Exit of the Florida Turnpike which is a main thoroughfare to get to the Hard Rock Casino (Undergoing $1.5 Billion Expansion).
The brand new 20 Year lease has 7.5 percent increases in rent every five years including the four, five – year option periods. The lease is backed by a 240 unit operating company with stores in
FL, NM, TX and TN.
There are numerous National and Regional retailers in the immediate area including a brand new Wawa, 7-Eleven, Chevron, Shell, BrandsMart USA, Subway, Burger King 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 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.)

  • Brand New Construction 20 Year Absolute NNN Lease “No Landlord Responsibility”
  • 2019 Construction – Estimated to Open by September
  • Strong Guarantee from 240 Unit Operating Company
  • Situated at the Griffin Road Exit of the Florida Turnpike which is a main thoroughfare to get to the Hard Rock Casino (Undergoing $1.5 Billion Expansion)
  • Excellent Demographics; Close to 312,776 Residents in the Market Area with an Average HHI Exceeding $75,314 Annually
  • Features Easy Access and Visibility, Hard Corner Signalized Intersection to Traffic Counts Exceeding 90,820 Vehicles Per Day
  • Florida Has No State Income Tax

Property Documents

  • City: Hollywood
  • State/county: Florida
  • Zip/Postal Code: 33314
  • Country: United States

Detail

  • Price: $3,157,894.47

Additional details

  • CAP Rate: 4.75%
  • NOI: $150,000

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