1064 Md-3
Odenton, MD 21113
Wendy's | Part of Portfolio | Crofton, MD · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the fee simple interest in this Wendy’s in Crofton, Maryland. The Tenant, Wendy’s Properties, LLC, has over 18 years remaining on a corporately guaranteed absolute NNN lease. Wendy’s Properties, LLC is a wholly owned subsidiary of The Wendy’s Company, rated B2/stable by Moody’s. The Wendy’s Company (NASDAQ: WEN) is an international fast food chain founded in 1969. As of January 2, 2017, Wendy’s is the world’s third largest quick-service hamburger chain with over 6,500 locations, including 330 that are company-owned. This is a long established Wendy’s location and has operated since 1984. DavCo Restaurants, one of the chain’s largest franchisees, recently sold this location to Wendy’s Properties, LLC at which point Wendy’s did an assignment of the existing lease for 20-years. The Property is located in densely populated Crofton, Maryland, between Baltimore, Washington, and Annapolis. Situated upon a large 1.63-acre parcel, the Tenant is strategically positioned along Robert Crain Highway (State Route 3), a primary regional retail corridor that averages more than 70,000 vehicles per day. The site is positioned in the median of the north and south-bound lanes which allows easy access and strong visibility. While the tenant has operated since 1984, the market has matured around this site making its location relatively irreplaceable today. The Property benefits from its location one-half mile south of Waugh Chapel Town Centre, 429,975-square-feet of retail anchored by Wegmans, Target and Dick’s Sporting Goods, and eight-tenths-of-a-mile south of The Village at Waugh Chapel, 414,919 square feet anchored by Safeway, Marshalls and Home Goods. Further, the Property is in proximity to notable retailers AutoZone, 7-Eleven, The Goddard School, and near to other fast food chains Pizza Hut, Roy Rogers, Dunkin’ Donuts, Popeyes, Taco Bell and Boston Market. It is certainly noteworthy that the site’s rental rate is below market today for the quality of this pad and its proximity to other national retailers. Just north of the site, McDonald’s is paying $31 PSF on a ground lease where the tenant constructed its building compared to $40 PSF in this location where a building exists. Located 15 miles west of Annapolis, 20 miles south of Baltimore, and 24 miles northeast of Washington, D.C., Crofton is a dense, affluent submarket with continued residential growth. There are more than 47,700 people with an average household income of $138,029 within three miles. Finally, this asset is unique as an investor will benefit from the fee-simple nature of this offering, which allows for depreciation and a low rental rate structure providing immense upside should the tenant vacate. The subject property is one of eight Wendy’s assets for sale. Please contact listing agent for additional locations.