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Wendy's | New 20-Year Absolute NNN 1509 Lincoln Rd 3,209 SF Retail Building Allegan, MI 49010 $2,267,000 ($706.45/SF) 6% Cap Rate
Investment Highlights
- Successful Store with a 7.5% Rent-to-Sales Ratio
- Located Across from Allegan High School and Allegan Middle School
- New, 20-Year Wendy’s Sale-Leaseback
Executive Summary
--Successful Store with a 7.5% Rent-to-Sales Ratio
--New, 20-Year Wendy’s Sale-Leaseback
--Located Across from Allegan High School and Allegan Middle School
--Prime Retail Location
-Highly-Trafficked Location Located on the Main Thoroughfare Through Town
-Limited Competition – This Wendy’s is One of Only Four Drive-Thru Restaurants within a 10-Mile Radius
-Located on Main Retail Corridor in Close Proximity to Several Major Retailers such as NAPA Auto Parts, Taco Bell, AutoZone, Dollar General, Goodwill Store, Pizza Hut, Burger King, McDonald’s, and Many More
-Affluent Area with the Average Household Income Exceeding $84,000 within 5 Miles
--Experienced Wendy’s Franchisee
-Absolute NNN Property with Zero Landlord Responsibilities – Ideal for Investors Not Local to the Market
-Meritage Hospitality Group is One of the Largest Wendy’s Franchisee’s in the Country with Over 12,000 Employees and 380 Locations in 16 States
-Scheduled 1.5% Annual Rental Increases Throughout the Initial Term Provide for an Excellent Hedge Against Inflation
Broker of Record: Paul Kerber – License: 6502433613
--New, 20-Year Wendy’s Sale-Leaseback
--Located Across from Allegan High School and Allegan Middle School
--Prime Retail Location
-Highly-Trafficked Location Located on the Main Thoroughfare Through Town
-Limited Competition – This Wendy’s is One of Only Four Drive-Thru Restaurants within a 10-Mile Radius
-Located on Main Retail Corridor in Close Proximity to Several Major Retailers such as NAPA Auto Parts, Taco Bell, AutoZone, Dollar General, Goodwill Store, Pizza Hut, Burger King, McDonald’s, and Many More
-Affluent Area with the Average Household Income Exceeding $84,000 within 5 Miles
--Experienced Wendy’s Franchisee
-Absolute NNN Property with Zero Landlord Responsibilities – Ideal for Investors Not Local to the Market
-Meritage Hospitality Group is One of the Largest Wendy’s Franchisee’s in the Country with Over 12,000 Employees and 380 Locations in 16 States
-Scheduled 1.5% Annual Rental Increases Throughout the Initial Term Provide for an Excellent Hedge Against Inflation
Broker of Record: Paul Kerber – License: 6502433613
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,209 SF
Building Class
B
Year Built
2001
Price
$2,267,000
Price Per SF
$706.45
Cap Rate
6%
NOI
$136,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.31 AC
Zoning
Commercial - Commercial district zone
Frontage
200’ on Lincoln Rd
Amenities
- Signage
- Drive Thru
- Monument Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Wendy's began in 1969 when Dave Thomas opened the first location in Columbus, Ohio. The chain became known for its square hamburger patties and signature Frosty desserts. Over time, Wendy's expanded internationally through franchising. Today, the restaurant operates thousands of locations worldwide while maintaining its focus on quick-service fast food. Wendy's continues building its global presence through both company-owned and franchised restaurant models.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 51-170-106-00 | Improvements Assessment | $250,300 |
| Land Assessment | $30,800 | Total Assessment | $281,100 |
Property Taxes
Parcel Number
51-170-106-00
Land Assessment
$30,800
Improvements Assessment
$250,300
Total Assessment
$281,100
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Wendy's | New 20-Year Absolute NNN | 1509 Lincoln Rd
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