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Wendy’s Corporate NNN Lease – Alma, MI

1495 Wright Ave, Alma, MI 48801, USA
$1,303,571

Description

Marcus & Millichap is pleased to offer for sale this rare absolute NNN corporate guaranteed Wendy’s located at 1495 Wright Avenue in Alma, Michigan. This property is located near Alma College, with student enrollment exceeding 1,450 students.
The subject property consists of a 2,800 square foot restaurant on a large 1.75 Acre Parcel of Land and is strategically located near busy US Route 127 with traffic counts in excess of 31,900 vehicles per day. There are 21,198 full time residences with a Household income exceeding $54,196 annually in the market area.
There are numerous National and Regional retailers in the immediate area including Walgreen’s, Midas, Tire Factory, Quaker State Quick Lube, JC Penney, Rite Aid, Jimmy John’s, Pizza Hut and Classy Auto Wash, among others. Mid Michigan Medical Center and Urgent Care are also located in close proximity to this property.
Wendy’s is an international fast food restaurant chain founded by Dave Thomas on November 15, 1969 in Columbus, Ohio, United States. As of March 2016, Wendy’s was the world’s third largest
hamburger fast food chain with approximately 6,650 locations, following Burger King’s 12,000 plus locations and McDonald’s with over 31,000 plus locations.

  • RARE CORPORATE GUARANTEED NNN WENDY’S
  • 9 YEARS REMAIN ON ORIGINAL 10 YEAR LEASE WITH 10% INCREASES EVERY 5 YEARS
  • OVER 21,198 RESIDENTS IN THE MARKET AREA WITH AN AVERAGE HHI EXCEEDING $54,196
  • TRAFFIC COUNTS EXCEEDING 17,800 VEHICLES PER DAY
  • SURROUNDED BY NUMEROUS NATIONAL AND REGIONAL RETAILERS IN THE IMMEDIATE AREA INCLUDING  WALGREEN’S, MIDAS, TIRE FACTORY, QUAKER STATE QUICK LUBE, JC PENNEY, RITE AID, JIMMY JOHN’S , PIZZA HUT AND CLASSY AUTO WASH, AMONG OTHERS. MID MICHIGAN MEDICAL CENTER AND URGENT CARE ARE ALSO LOCATED IN CLOSE PROXIMITY TO THIS PROPERTY
  • HEALTHY RENT TO SALES RATIO

Property Documents

  • City: Alma
  • State/county: Michigan
  • Zip/Postal Code: 48801
  • Country: United States

Detail

  • Price: $1,303,571

Additional details

  • CAP Rate: 5.60%
  • NOI: $73,000

Features