Historical Retail Sale Listing - Wendy's-Corp Absolute NNN Lease-Pad to Home Depot

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Wendy's-Corp Absolute NNN Lease-Pad to Home Depot

72837 Dinah Shore Drive, Rancho Mirage, CA 92270

N/A

2,200 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
2,200 SF
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Additional Sub-types:
Restaurant
Retail Pad
Neighborhood Center
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
5.75%
Tenancy:
Single
Year Built:
2003
Lot Size:
49,595 SF
Listing ID
15996008
Last Updated
over 1 year ago

Highlights

  • Asbolute NNN Corporate Lease with Wendy's International, Inc. - $804 Million Net Worth
  • Wendy' s Rancho Mirage is located at one of Rancho Mirage' s busiest intersections. Dinah Shores Drive at Monterey Avenue has traffic
  • Ideal Retail Location - Part of a Home Depot and 16-Screen Theater Anchored Center - Directly Adjacent to Sam's Club, WalMart, and Costco
  • Over 57,000 Car Per Day Intersection at Monterey Avenue and Dinah Shore Drive
  • Ideal 1031 Investment - No Landlord Responsibilities
  • 10% Increases Every 5 Years Throughout Any and All Option Periods

Description

This offering is comprised of a single tenant Wendy's Drive Thru on a 10-year Absolute NNN ground lease (offering is for land ownership) with Wendy's International, Inc. The tenant also has 4 (5-Year) automatic renewing options terms. The property is ideally located within a Home Depot and 16-screen theater anchored center, directly adjacent to Costco, Sam's Club, and WalMart.

Wendy' s Rancho Mirage is located at one of Rancho Mirage' s busiest intersections. Dinah Shores Drive at Monterey Avenue has traffic counts of over 55,700 cars per day. Dinah Shores Drive is the major retail corridor creating a large consumer draw to the area with retail giants such as Home Depot, Costco, Kohl' s, Wal-Mart, and Sam' s Club. Wendy' s benefits from cross-over shopping from customers of Home Depot, the 16-Screen Theater, and the adjacent major retailers. This prime location is well positioned to capture the permanent and transient consumers taking advantage of the easy access location and convenient drive-thru restaurant.

Rancho Mirage is located 120 miles southeast of Los Angeles in the heart of the Palm Springs Valley. Rancho Mirage is nestled at the base of the Santa Rosa Mountains, conveniently located to utilize the Southern California freeway system, one of the most extensive transportation networks in the world via Interstate 10. Rancho Mirage is known for its abundant amount of sunshine, great climate and related resort lifestyle. Famous political leaders, corporate executives and top entertainers all call Rancho Mirage home because of its renowned quality of life.

Map of 72837 Dinah Shore Drive, Rancho Mirage, CA 92270 (Riverside County)

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