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Wendy's 117 Tobacco Dr 2,380 SF Retail Building Wallace, NC 28466 $2,742,000 ($1,152.10/SF) 5.90% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-year absolute net lease – no landlord responsibility
- Property has 2.75 EBITDAR Coverage YTD through August 2024
- Operator is large franchisee – 127 units
EXECUTIVE SUMMARY
Vestian has been retained by ownership as the exclusive advisors to offer for sale the Wendy’s restaurants (The “Property”) located at 117 Tobacco Drive, Wallace, NC. The Property is subject to a 20-year absolute net lease expiring on December 31st, 2034. The operator of the unit is Carolina Restaurant Group (CRG). CRG operates 127 Wendy’s units mainly in North and South Carolina
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,380 SF
Building Class
B
Year Built
2023
Price
$2,742,000
Price Per SF
$1,152.10
Cap Rate
5.90%
NOI
$161,804
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.00 AC
Opportunity Zone
Yes
Parking
30 Spaces (12.61 Spaces per 1,000 SF Leased)
Frontage
170’ on Tobacco Road
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Wendy's
- -
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Wendy's | - | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 09-779-2-7 | Improvements Assessment | $538,200 |
| Land Assessment | $400,000 | Total Assessment | $938,200 |
PROPERTY TAXES
Parcel Number
09-779-2-7
Land Assessment
$400,000
Improvements Assessment
$538,200
Total Assessment
$938,200
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Wendy's | 117 Tobacco Dr
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