Wendy’s NNN Lease | Orlando MSA | $104K Avg Household Income

90 W Mitchell Hammock Rd, Oviedo, FL 32765, USA
$2,526,315

Description

Marcus & Millichap is pleased to present for sale this Single-Tenant- Absolute Net Leased Wendy’s opportunity backed by a 210 Unit Florida based Operating Company with locations throughout
Florida, Texas and Tennessee. This 2,850 square foot prototype building is situated on a large 27,371 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 62,916 vehicles per day. It is also ideally located adjacent to a Circle K, a BP, and numerous national retailers which include Sprouts Supermarket, ALDI, Circle K, Pet Supermarket, Bank of America, Chick Fil A, BurgerFi, Walgreens and many others. This Wendy’s recently completed a full remodel in May 2017 and is located on a bustling street minutes from The Strand, a $200 Million+ Mixed Use Complex with 277+ Apartments, Retail and Office.
Oviedo is a city in Seminole County, Florida, United States. As of the January 2020, the population exceeds 44,000 People (Up from 33,000 People in 2010!) 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.

  • Absolute NNN Lease with more than 17 Years on the lease with 7.5% Increases in Rent Every 5 Years
  • Out Parcel to a New Sprouts Market Anchored Shopping Center
  • Strong 210+ Unit Franchisee Guarantee (5th Largest Wendy’s Franchisee)
  • Recently Remodeled in 2017 and located on a bustline street with numerous national retailers including Sprouts Market, ALDI, Circle K, Pet Supermarket, Bank of America, Chick Fil A, BurgerFi, Walgreens
  • Over 55% in Population Increase Since 2000
  • Average Household Income Exceeds $104,000 in a 3 Mile Radius
  • Located within 5 Miles of University Of Central Florida with Over 64,000 Students Annually
  • Florida is No Income Tax State

Property Documents

  • City: Oviedo
  • State/county: Florida
  • Zip/Postal Code: 32765
  • Country: United States

Detail

  • Price: $2,526,315
  • Year Built: 2017

Additional details

  • CAP RATE: 4.75%
  • NOI: $120,000

Features

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