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Wendy's 109 S Perry Ln 2,490 SF Retail Building Tempe, AZ 85288 $3,684,000 ($1,479.52/SF) 4.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Global Brand Recognition – Over 7,000 Locations Worldwide – Top Tier QSR Brand – Recession Resilient Concept
- Last Approved Drive-Through Location within Tempe ASU District
- Hard Corner Signalized Location – Visibility to Over 34,000 VPD – Quick Access to 101 Loop & 202 Loop Freeways
- 20 Year Absolute NNN Lease – New 2025 Build-to-Suit Construction – New Wendy’s Prototype
- Walking Distance to Arizona State University (55,000 students)
- cross from New Tempe Light Rail Station Along Rio Salado Pkwy Currently Under Construction
EXECUTIVE SUMMARY
This newly constructed 2025 build-to-suit Wendy’s offers investors a premier net lease opportunity in the heart of Tempe, AZ, part of the Phoenix MSA. The property is supported by a new 20-year absolute NNN lease that provides completely passive ownership. The tenant, Arizona Restaurant Company, LLC—Wendy’s largest franchisee in the state—operates 40+ Wendy’s units in Arizona and over 190 locations nationwide under The Holland Company. With contractual rent increases of 10% every five years and four additional 5-year options, this property delivers stable income growth and long-term security.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,490 SF
Building Class
B
Year Built
2025
Construction Status
Under Construction
Price
$3,684,000
Price Per SF
$1,479.52
Cap Rate
4.75%
NOI
$174,990
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.25 AC
Opportunity Zone
Yes
Frontage
200’ on Rio Salado Pkwy
AMENITIES
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
- Monument Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 132-38-022 | Improvements Assessment | $0 |
| Land Assessment | $88,494 | Total Assessment | $88,494 |
PROPERTY TAXES
Parcel Number
132-38-022
Land Assessment
$88,494
Improvements Assessment
$0
Total Assessment
$88,494
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Wendy's | 109 S Perry Ln
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