395 E Eau Gallie Blvd
Satellite Beach, FL 32937
Wendy's (Remodel Planned Post-Closing) · Retail Property For Sale

Marcus & Millichap is proud to offer for sale a sale-leaseback Wendy’s located in Indian Harbour Beach, Florida which is part of the Palm Bay–Melbourne–Titusville MSA. At the close of escrow a brand new 20-year absolute NNN lease will be signed. Starboard Group of Companies is the parent company operating the subject property and the lease is guaranteed by a 25-unit LLC comprised of other Space Coast locations. The tenant has agreed to complete a full “Image Activation” remodel within eighteen months from the close of escrow. Typically, an Image Activation remodel costs $400,000-600,000 and includes both interior and exterior enhancements. Starboard Group of Companies operates more than 180 restaurants in ten different states. The City of Indian Harbour Beach was developed as a residential community in support of the growing space industry and activities at nearby Kennedy Space Center, from which man first traveled to the moon. Over 86,000 people live within five miles of the subject property and the average household income within one mile is $71,116. The Melbourne MSA is about seventy miles southeast of Orlando.