Wendy’s 20-Year Triple-Net (NNN) Oviedo, Florida

90 W Mitchell Hammock Rd, Oviedo, FL 32765, USA
$2,400,000

Description

Marcus & Millichap is pleased to present for sale this Single-TenantAbsolute Net Leased Wendy’s Sale Lease-back opportunity backed by a 180 Unit Florida based Operating Company with locations throughout Florida, Texas and New Mexico. This 2,850 SF prototype building is situated on a large 23,371 square foot parcel with a drive-up window and ample parking. Located just off the signalized intersection of Alafaya Trail, this strategic location has traffic counts in excess of 39,000 vehicles per day. It is also ideally located adjacent to a Circle K, a BP, and numerous national retailers which include Pet Supermarket, Bank of America and many more.

This Wendy’s recently completed a full remodel in May 2017 and is being delivered with a twenty year base term absolute net lease. This property has an attractive Net Operating Income of $120,000 annually with 7.5 percent increases every five years and the option to renew for four- five year option periods.

Oviedo is a city in Seminole County, Florida, United States. As of the 2010 U.S. Census, the population was 33,342. This city is part of the Orlando-Kissimmee-Sanford Metropolitan Statistical Area, and is well known for its historic houses and buildings. The immediate market has over 52,982 full time residents with an average House Hold income of $90,038 annually. This is an excellent opportunity to acquire a strategically located, passive, absolute net leased investment in Oviedo, Florida; benefiting from Florida’s No State Income Tax.

■ 20-year Absolute Nnn Lease
■ Strong 180 Plus Unit Franchisee Guarantee
■ 7.5 Percent Increases In Rent Every Five Years And In The
Option
■ Florida Has No State Income Tax
■ Zero Landlord Responsibilities
■ Over 38 Percent In Population Increase Since 2000
■ Over $90,000 In Average Household Income
■ Located Within Five Miles Of University Of Central
Florida With Over 64,000 Students Annually

Property Documents

  • wendys-hammock-rd-oviedo-fl-om-package
  • Address: 90 West Mitchell Hammock Road
  • City: Oviedo
  • State/county: Florida
  • Zip/Postal Code: 32765
  • Country: United States

Detail

  • Price: $2,400,000

Additional details

  • CAP Rate: 5.00%
  • NOI: $120,000

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