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Wendy’s NNN Absolute-Net | Lake Placid, FL

502 FL-25, Lake Placid, FL 33852, USA
$1,766,257

Description

Marcus & Millichap is pleased to offer for sale this absolute net leased, remodeled Wendy’s located at 502 US 27 South in Lake Placid, Florida, in close proximity to Lake Placid Elementary,
Middle and High Schools, with student enrollment exceeding 1,688 students.
The subject property consists of a 3,374 square feet restaurant, with drive up window and ample parking on a large 1.64 acre parcel of land and is strategically located on US-27, with daily
traffic counts in excess of 24,900 vehicles per day, and benefits from over 17,800 full time residences with a house hold income exceeding $53,000 annually.
New 20 Years lease with 7.5% increases every five years. The lease is backed by a 214 unit operating company with stores in FL, NM, TX and TN.
There are numerous National and Regional retailers in the immediate area including Pizza Hut, McDonald’s, Walgreens, CVS, Golden Corral Bank of America and Advance Auto Parts among others.
Wendy’s is an international fast food chain restaurant 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’31,000 plus locations.

  • ABSOLUTE NET LEASE “NO LANDLORD RESPONSIBILITY”
  • OVER 17,800 RESIDENTS IN THE MARKET AREA WITH AN AVERAGE HHI EXCEEDING $53,000
  • GUARANTEE FROM 214 UNIT OPERATING COMPANY
  • 7.5% INCREASES EVERY FIVE YEARS
  • DIRECTLY ACROSS FROM PIZZA HUT, MCDONALDS AND GOLDEN CORAL

Property Documents

  • Wendys-Lake-Placid-FL-om-ib-2
  • City: Lake Placid
  • State/county: Florida
  • Zip/Postal Code: 33852
  • Country: United States

Detail

  • Price: $1,766,257

Additional details

  • CAP Rate: 5.00%
  • NOI: $88,312.84

Features