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Wendy's | Kalamazoo MSA | Large Operator 828 S Kalamazoo St 2,869 SF Retail Building Paw Paw, MI 49079 $1,846,154 ($643.48/SF) 6.50% Cap Rate
Investment Highlights
- Successful Store with a 7.5% Rent-to-Sales Ratio
- 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
- New, 20-Year Wendy’s Sale-Leaseback | Absolute NNN Property with Zero Landlord Responsibilities
- Freeway-Close Location – Less Than ½ Mile From Interstate-94, Connecting Detroit to Chicago with a Traffic Counts Exceeding 46,000 Cars Per Day
Executive Summary
--Successful Store with a 7.5% Rent-to-Sales Ratio
--New, 20-Year Wendy’s Sale-Leaseback
--Freeway-Close Location – Less Than ½ Mile From Interstate-94, Connecting Detroit to Chicago with a Traffic Counts Exceeding 46,000 Cars Per Day
--Prime Retail Location
-Highly-Trafficked Location Located on the Corner of a Signalized Intersection (Combined Traffic Counts Exceed 20,000 Cars Per Day)
-Located on Main Retail Corridor in Close Proximity to Several Major Retailers such as Walmart, Tractor Supply Co, Speedway, Jimmy John’s, Family Fare Supermarket, CITGO, Walgreens, Taco Bell, AutoZone, Advance Auto Parts, and Many More
-Affluent Area with the Average Household Income Exceeding $92,000 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
--Freeway-Close Location – Less Than ½ Mile From Interstate-94, Connecting Detroit to Chicago with a Traffic Counts Exceeding 46,000 Cars Per Day
--Prime Retail Location
-Highly-Trafficked Location Located on the Corner of a Signalized Intersection (Combined Traffic Counts Exceed 20,000 Cars Per Day)
-Located on Main Retail Corridor in Close Proximity to Several Major Retailers such as Walmart, Tractor Supply Co, Speedway, Jimmy John’s, Family Fare Supermarket, CITGO, Walgreens, Taco Bell, AutoZone, Advance Auto Parts, and Many More
-Affluent Area with the Average Household Income Exceeding $92,000 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
Building Size
2,869 SF
Building Class
C
Year Built
2016
Price
$1,846,154
Price Per SF
$643.48
Cap Rate
6.50%
NOI
$120,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.24 AC
Opportunity Zone
Yes
Zoning
Commercial - Commercial district zone
Frontage
Amenities
- Pylon Sign
- Restaurant
- Drive Thru
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- -
- $38.64
- Triple Net
- Nov 2036
Founded in 1969 by Dave Thomas in Columbus, Ohio, Wendy's began as a single hamburger restaurant and grew into a franchise-based quick-service chain. The company serves a menu centered on square hamburgers made with fresh beef, along with chicken sandwiches, salads, chili, baked potatoes, breakfast items, and the Frosty dessert. Wendy's operates through company-owned and franchised restaurants and uses a system that extends across a broad international footprint. The business remains focused on restaurant operations, menu development, and franchising as part of The Wendy's Company.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | - | $38.64 | Triple Net | Nov 2036 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 80-47-583-048-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $231,900 |
Property Taxes
Parcel Number
80-47-583-048-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$231,900
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