Wendy’s 20 Year NNN Lease | Brand New 2021/2022 Construction

200 S Glencoe Rd, New Smyrna Beach, FL 32168, USA
$3,411,764

Description

Marcus & Millichap is pleased to present for sale this Wendy’s Hamburger restaurant located at 200 S. Glencoe Road in New Smyrna Beach, Florida. New Smyrna is a city in Volusia County on the central east coast of the state with the Atlantic Ocean to the east and a population of over 27,843. New Smyrna Beach is growing at a rate of 2.41 percent annually and its population has increased by 30.06 percent since the most recent census. New Smyrna Beach is just south of Daytona Beach. New Smyrna Beach offers many opportunities for outdoor recreation including fishing, sailing, boating, golfing and hiking and was ranked number one on the list of “best surf towns.” New Smyrna Beach with its 17 miles of beautiful beaches sees about 383,800 visitors each year.
A brand-new luxury apartment complex, The Beacon at New Smyrna Beach with 253 luxury apartment units was just constructed across the street from this Wendy’s. Coastal Woods by D.R. Horton is only three minutes from this Wendy’s, Paytas Homes Portofino Reserve has over 100 homes already sold out and is only seven minutes from this property. Coastal Homes by Meritage
Builders is also developing a brand new home community nearby.
This Wendy’s property is also surrounded by many colleges and universities. Daytona State College New Smyrna has over 2,000 students and is only eight minutes from the property. Also a few minutes away is Daytona State College Deltona Campus with over 26,000 students and Deland Community College with over 5,200 students.
Recreational areas nearby this Wendy’s include Canaveral National Seashore and the Smyrna Dunes Park with views of Ponce Outlet and its lighthouse. Canaveral National Seashore is home to 1,000 plant species, 310 bird species and averages over 1,005,001 visitors each year. This property is only minutes from historic downtown with art galleries, shops, and the New Smyrna Museum
of History as well as the Mary S. Harrell Black Heritage Museum.
Wendy’s is an international fast-food restaurant chain founded by Dave Thomas on November 15, 1969 in Columbus, Ohio. As of January 2019, there were a total of 6,828 locations, including 361 that are company owned. 6,467 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 31,000 locations.

  • Brand New Wendy’s | Construction Starts November 2021 and Store Opens February 2022 | Seller to Pay Rent During Construction
  • 20 Year NNN Lease with 7.5% Increases Every 5 Years in Rent
  • New Luxury Apartment Complex The Beacon at New Smyrna Beach With 253 Units Just Constructed Across the Street
  • Brand New Luxury Single Family Home Developments Only Minutes Away Including Paytas Homes Portofino Reserve with Over 100 Homes Already Sold Out and Coastal Woods by D.R. Horton Builders
  • Many Colleges Surrounding this Wendy’s Including Daytona State College With 2,000 Students, with Over 26,000 Students and Deland Daytona Community College With 5,200 Students
  • Nearby Recreational Areas Include Canaveral National Seashore With Over 1 Million Visitors Each Year and Historic Downtown With New Smyrna Museum of History and Mary S. Harrell Black Heritage Museum
  • Very Strong 222+ Unit Operator
  • Wendy’s is considered an Essential Tenant

Property Documents

  • City: New Smyrna Beach
  • State/county: Florida
  • Zip/Postal Code: 32168
  • Country: United States

Detail

  • Price: $3,411,764
  • Year Built: 2021

Additional details

  • CAP RATE: 4.25%
  • NOI: $145,000

Features