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Wendy's 1004 Richland Ave 2,134 SF Retail Building Aiken, SC 29801 $2,956,521 ($1,385.44/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 20 Year Absolute NNN Lease | No Landlord Responsibilities
- Strong Wendy’s Operators | 100+ Units
- Attractive 7.5% Rent Increases Every 5 Years | Strong Wendy’s Operators | 100+ Units
- Aiken, South Carolina (Population 32,025) and One of 2 Largest Cities in The Central Savannah River Area
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present for sale this Absolute Net Leased Wendy’s located at 1004 Richland Avenue in Aiken, South Carolina. The subject property consists of a 2,134 SF freestanding building with a drivethru and is situated on a .78-acre parcel of land.
This property is situated on RT-78 (Augusta Aiken Rd) and benefits from great visibility along this highly trafficked throughfare. The property is also immediately surrounded by other national and regional retailers including Sonic, KFC, Food Lion, Subway, Taco Bell, CVS, McDonald’s, O’Reilly Auto Parts, Bank of America, and a Walmart Supercenter. Also nearby the property are many brand new home developments including Eastwood Homes at True Cedar (15 Available Homesites), The Islands by D. R. Horton (155 Homesites), and Forrest Bluff by Ivey Homes (55 Homesites).
Commencing in December of 2024, the Wendy’s lease will feature 20 years of primary term with attractive 7.5 percent rent increases every 5-years, including in each of the four 5-year renewal options.
Wendy’s Company is an American parent company for the major fast food chain Wendy’s. It is headquartered in Dublin, Ohio and the company’s principal subsidiary in Wendy’s International, the franchisor of Wendy’s restaurants. There are 5,938 locations in the United States, and 1,006 International for a total of 6,949 locations. It’s U.S. Revenue in 2022 was $2.2 Billion.
This property is situated on RT-78 (Augusta Aiken Rd) and benefits from great visibility along this highly trafficked throughfare. The property is also immediately surrounded by other national and regional retailers including Sonic, KFC, Food Lion, Subway, Taco Bell, CVS, McDonald’s, O’Reilly Auto Parts, Bank of America, and a Walmart Supercenter. Also nearby the property are many brand new home developments including Eastwood Homes at True Cedar (15 Available Homesites), The Islands by D. R. Horton (155 Homesites), and Forrest Bluff by Ivey Homes (55 Homesites).
Commencing in December of 2024, the Wendy’s lease will feature 20 years of primary term with attractive 7.5 percent rent increases every 5-years, including in each of the four 5-year renewal options.
Wendy’s Company is an American parent company for the major fast food chain Wendy’s. It is headquartered in Dublin, Ohio and the company’s principal subsidiary in Wendy’s International, the franchisor of Wendy’s restaurants. There are 5,938 locations in the United States, and 1,006 International for a total of 6,949 locations. It’s U.S. Revenue in 2022 was $2.2 Billion.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,134 SF
Building Class
C
Year Built/Renovated
1976/2018
Price
$2,956,521
Price Per SF
$1,385.44
Cap Rate
5.75%
NOI
$170,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.78 AC
Zoning
C - Commercial
Parking
20 Spaces (9.37 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 104-19-15-007 | Improvements Assessment | $804,820 |
| Land Assessment | $16,584 | Total Assessment | $44,640 |
PROPERTY TAXES
Parcel Number
104-19-15-007
Land Assessment
$16,584
Improvements Assessment
$804,820
Total Assessment
$44,640
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Wendy's | 1004 Richland Ave
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