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Wendy's 1162 S Washington Ave 2,584 SF Retail Building Holland, MI 49423 $1,938,000 ($750/SF) 6.10% Cap Rate
Investment Highlights
- Long-Term Absolute NNN Lease: There are over ±14.5 years remaining on an absolute triple-net lease with zero landlord responsibilities.
- Strong Lease Guarantor: Lease guaranteed by Meritage Hospitality Group Inc., one of the largest Wendy’s franchisees in the U.S., operating 385+ units.
- New Construction Drive-Thru: This 2020 new development is Wendy’s new prototype building, providing an investor with a top-quality property.
- Prime Location & Visibility: Situated just off the off-ramp of US-31 and Washington Ave, directly across from Family Fare Super Market.
Executive Summary
Matt Fitzgerald
License # 6505432273 (MI)
Matthews
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
License # 6505432273 (MI)
Matthews
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,584 SF
Building Class
C
Year Built
2020
Price
$1,938,000
Price Per SF
$750
Cap Rate
6.10%
NOI
$118,174
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.93 AC
Zoning
C-2 - Commercial
Parking
28 Spaces (1.93 Spaces per 1,000 SF Leased)
Nearby Major Retailers
Property Taxes
| Parcel Number | 53-02-06-499-002 | Improvements Assessment | $728,900 |
| Land Assessment | $126,300 | Total Assessment | $855,200 |
Property Taxes
Parcel Number
53-02-06-499-002
Land Assessment
$126,300
Improvements Assessment
$728,900
Total Assessment
$855,200
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Wendy's | 1162 S Washington Ave
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