1444 S State St | Orem, UT 84097
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1444 S State St
Orem, UT 84097
WENDY'S · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- The site operates under a ground lease lease structure, making it a fully passive investment. There is strong potential for upside either through leas
- Land value value in the area trades at around $60.00 PSF. Currently, Wendy’s is paying $22.92 PSF of GLA with market rent hovering around $60.00 PSF f
- Corporate Guaranty with Long Store History
- There are four remaining option periods. The first option includes a two-year term with a 10% rent increase, while the subsequent three options each
- The adjacent northern property recently sold for $2.2 million, equating to $58.64 per square foot of land.
- The lease features a corporate guarantee from Wendy’s Old Fashioned Hamburgers of New York, LLC. They assumed responsibility of the lease in 2007
PROPERTY FACTS
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,640 SF
Building Class
B
Year Built
1992
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.57 AC
Parking
20 Spaces (7.58 Spaces per 1,000 SF Leased)
Frontage
130’ on S State St
AMENITIES
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 19-017-0065 | Improvements Assessment | $717,400 |
| Land Assessment | $474,900 | Total Assessment | $1,192,300 |
PROPERTY TAXES
Parcel Number
19-017-0065
Land Assessment
$474,900
Improvements Assessment
$717,400
Total Assessment
$1,192,300
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