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Wendy's 4014 Spencer Hwy 2,722 SF Retail Building Pasadena, TX 77504 $1,667,000 ($612.42/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- An absolute NNN lease single-tenant Wendy’s in the Houston MSA
- 10% rental increases every 5 years during the primary term and option periods
- Strong intrinsics – below market rent ($31/SF) and drive-thru
- Brand-new 20-year lease extension with strong franchisee guaranty
- 35+ year operating history at this site
- Operator is the largest Wendy’s franchisee in the U.S.
EXECUTIVE SUMMARY
Brand-new 20-year absolute NNN lease extension featuring 10% rental increases every 5 years and 4, 5-year extension options. Tenant is the largest Wendy’s franchisee in the U.S. with over 560 Wendy’s and Taco Bell locations in their system.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,722 SF
Building Class
B
Year Built/Renovated
1980/2018
Price
$1,667,000
Price Per SF
$612.42
Cap Rate
5.25%
NOI
$87,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.72 AC
Frontage
55’ on Spencer Hwy
Walk Score®
Very Walkable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0461270000073 | Improvements Assessment | $575,331 |
| Land Assessment | $468,480 | Total Assessment | $1,043,811 |
PROPERTY TAXES
Parcel Number
0461270000073
Land Assessment
$468,480
Improvements Assessment
$575,331
Total Assessment
$1,043,811
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Wendy's | 4014 Spencer Hwy
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