NNN Leased US Bank
680 Broadway Avenue | Bedford, OH
Sq. Feet 6,258
Marcus & Millichap is pleased to present this single-tenant, absolute-net Wendy's Restaurant, located at 44304 US Highway 27 in Davenport, Florida. The lease is 15 years with 1.5 percent annual increases in rent and is guaranteed by a 41-unit franchisee who operates over 120 multiple restaurant concepts in several countries. The seller has committed to placing money in escrow at closing which will be attributed to a complete store remodel.
The Wendy’s Company (NASDAQ: WEN), formerly branded as Wendy's Old Fashioned Hamburgers before October 11, 2012, is an international fast food chain restaurant founded by Dave Thomas on November 15, 1969, in Columbus, Ohio, United States. Wendy's sales exceeded those of Burger King for the first time in the company's history. With sales of $8.5 billion (USD), the company ranked number two in hamburger chains.
Cap Rate: 7.59% NOI: $141,125 Livable Sq. Ft: 3,000
Built in 1995 units Lot Sq. Ft: 33,118