Wendy’s 20 Year NNN Lease | Hard Corner Signalized Intersection

145 Eglin Pkwy NE, Fort Walton Beach, FL 32548, USA
$1,753,854

Description

Marcus & Millichap is pleased to present for sale this Wendy’s Fast Food Restaurant located at 145 Eglin Parkway NE in Walton Beach, Florida. At closing, the tenant will sign a 20-Year Absolute NNN Lease with 7.5 percent increases in rent every five years. This Fast Food Restaurant with Drive thru is situated at the hard corner signalized intersection of Eglin Parkway and Hughes Street and experiences very high traffic counts in excess of 50,000 Vehicles Per Day. This Wendy’s is also situated as an outparcel to Uptown Station, a 135,000 Square Foot Lifestyle Center Anchored by Winn Dixie, Ross, West Marine, Lumber Liquidators and Starbucks. This property is a short ten Minute drive from Fort Walton Beach Medical Center, a 267 bed top-performing quality care hospital with 300 physicians. Retailers in the immediate area include Ross Dress for Less, Enterprise Rent-a Car, Dollar General, and Massage Envy.Fort Walton Beach is a city in the Florida Panhandle known for its fine-white sand beaches near Okaloosa Island. Population is 22,284.
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 NNN Lease with 7.5% Increases Every 5 Years in Rent
  • Hard Corner Signalized Intersection | Exposure to More than 50,000 Vehicles Per Day
  • Outparcel to Uptown Station | 135,000 Square Foot Lifestyle Center Anchored by Winn Dixie, Ross, West Marine, Lumber Liquidators and Starbucks
  • Located 10 Minutes from Fort Walton Beach Medical Center, A 267 Bed Top Performing Hospital
  • Nearby Industries include Fastenal, GMHS International, LLC and Electra Technical Industries
  • Wendy’s is considered an Essential Tenant
  • Florida is a No Income Tax State

Property Documents

  • Wendys-Fort-Walton-Beach-FL-om-ib
  • City: Fort Walton Beach
  • State/county: Florida
  • Zip/Postal Code: 32548
  • Country: United States

Detail

  • Price: $1,753,854
  • Year Built: 2014

Additional details

  • CAP RATE: 4.65%
  • NOI: $81,554

Features