Wendy’s 20 Year NNN Lease | Extremely High Sales

1395 N Ferdon Blvd, Crestview, FL 32536, USA
$3,595,178

Description

Marcus & Millichap is pleased to present for sale this Wendy’s Fast Food Restaurant located at at 1395 North Ferdon Road in Crestview, Florida. At closing, the tenant will sign a 20-Year Absolute NNN Lease with 7.5 percent increases in rent every five years. This new construction Wendy’s is situated at the signalized intersection of Highway 85 and Airport Road and benefits as an outparcel to a newer construction Publix Super Market Shopping Center. This property is only a few minutes drive to Bob Sikes Airport, which supports a mix of General Aviation and Aerospace Corporations. Many schools in the immediate area including Crestview High School with 2,096 Students, Davidson Middle School with 1,061 Students and Walker Elementary with 857 Students. Retailers in the immediate area include Publix, Winn Dixie, Sonic, McDonald’s, Great Clips and Tom Thumb Convenience Stores.
Crestview is a city in Okaloosa County with a population of 20,978. Crestview is the Principal city of the Fort Walton Beach-Crestview- Destin Metropolitan Area. Crestview known as “Hub City” because of the convergence of I-10, State Road 85, US Highway 90, Florida Gulf & Atlantic Railroad and the Yellow River.
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.)

  • New Construction Wendy’s with Extremely High Sales (34% Above the National Average – See Listing Agents for Details)
  • 20-Year Absolute NNN Lease with 7.5% Increases every 5 Years in Rent
  • Located at the Signalized Intersection of Highway 85 and Airport Road : Exposure to More than 30,000 Vehicles Per Day
  • Outparcel to a Newly Constructed Publix Anchored Shopping Center
  • Directly Across the Street from Davidson Middle School (1,061 Students) and Crestview High School (2,096 Students)
  • Only a few minutes from Bob Sikes Airport (Publicly Owned and Supports General Aviation and Aerospace Corporations)
  • Wendy’s is considered an Essential Tenant
  • Florida is a No Income Tax State

Property Documents

  • City: Crestview
  • State/county: Florida
  • Zip/Postal Code: 32536
  • Country: United States

Detail

  • Price: $3,595,178
  • Year Built: 2017

Additional details

  • CAP RATE: 4.65%
  • NOI: $167,176

Features