Wendy's 1133 Bankhead hwy
2,524 SF Retail Building Carrollton, GA 30116 $1,776,000 ($704/SF) 5.35% Cap Rate
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INVESTMENT HIGHLIGHTS
- LONG TERM NNN GROUND LEASE WITH RENTAL INCREASES
- BUSY RETAIL CORRIDOR WITH NATIONAL RETAILERS
- PRIME SIGNALIZED INTERSECTION LOCATION
- ATLANTA MSA
EXECUTIVE SUMMARY
Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Wendy’s, (the “Property”) in Carrollton Georgia, a city located 40 miles southwest of Atlanta. Wendy’s operates on a triple-net (NNN) ground lease with over twelve and a half (12.5+) years of term remaining and a low rent of $95,000. The triple-net (NNN) lease structure allows for a completely hands-off passive form of ownership. The lease offers rental increases of ten (10%) percent every five (5) years throughout the base term and option periods. Wendy’s sits at the corner of a signalized intersection between Bankhead Highway (35,200 VPD) and Somerset Place where the property benefits from excellent visibility. Additionally, Wendy's is an outparcel to Carrollton Exchange, a shopping center which features other top restaurant chains such as LongHorn Steakhouse; the 19th most visited location within the LongHorn Steakhouse chain (Placer.ai). Carrollton is part of the Atlanta MSA, the 6th largest metro area in the United States and is home to a population of over 6.3 million people.
Wendy’s is best known for its made-to-order square hamburgers, using fresh, never frozen beef, freshly prepared salads, and other signature items like chili, baked potatoes and the Frosty dessert. Wendy’s and its franchisees employ hundreds of thousands of people across over 7,000 restaurants worldwide with a vision of becoming the world’s most thriving and beloved restaurant brand. Recently, Wendy’s extended their hours with the drive-thru being open until midnight and they now serve breakfast items. As of Q3 2024, Wendy’s restaurants continued to deliver sales growth with U.S. Systemwide sales totaling $3.14 billion for the quarter and maintaining overall traffic and dollar share in the QSR burger category. The company also reported total revenues of $566.7 million for the quarter, up 2.9% from the same period in 2023.
LONG TERM NNN GROUND LEASE WITH RENTAL INCREASES – Wendy’s operates on a triple-net (NNN) ground lease with over twelve and a half (12.5+) years of term remaining and a low rent of $95,000. The triple-net (NNN) lease structure allows for a completely hands-off passive form of ownership. The lease offers rental increases of ten (10%) percent every five (5) years throughout the base term and option periods.
PRIME SIGNALIZED INTERSECTION LOCATION – Wendy’s sits at the corner of a signalized intersection between Bankhead Highway (35,200 VPD) and Somerset Place where the property benefits from excellent visibility. Additionally, Wendy's is an outparcel to Carrollton Exchange, a shopping center which features other top restaurant chains including McDonald’s and LongHorn Steakhouse; the 19th most visited location within the LongHorn Steakhouse chain. (Placer.ai)
ATLANTA MSA – Carrollton is located approximately forty miles (40 mi.) southwest of Atlanta, Georgia, and part of the Atlanta metro area. The Atlanta metro area is the 6th largest MSA in the United States and is home to a population of over 6.3 million people.
BUSY RETAIL CORRIDOR WITH NATIONAL RETAILERS – Bankhead Highway (35,200 VPD) is a main thoroughfare in the area that is host to numerous national retailers including: CVS Pharmacy, Wells Fargo Bank, Big Lots, Ollie’s Bargain Outlet, Hibbett Sports, Advance Auto Parts, O’Reilly Auto Parts, Dollar Tree, Dollar General, Family Dollar, Express Oil Change, Chick-Fil-A, Taco Bell, KFC, Burger King, and Zaxby’s, further demonstrating the strength of the retail corridor.
NEARBY DEVELOPMENT – The surrounding area is welcoming new developments including Morgan Landing, a new construction 74-home community by Smith Douglas Homes, less than one mile (1 mi.) from the property.
In Cooperation With: Brian Brockman, Bang Realty-Georgia, Inc. (License #: 378952)
Wendy’s is best known for its made-to-order square hamburgers, using fresh, never frozen beef, freshly prepared salads, and other signature items like chili, baked potatoes and the Frosty dessert. Wendy’s and its franchisees employ hundreds of thousands of people across over 7,000 restaurants worldwide with a vision of becoming the world’s most thriving and beloved restaurant brand. Recently, Wendy’s extended their hours with the drive-thru being open until midnight and they now serve breakfast items. As of Q3 2024, Wendy’s restaurants continued to deliver sales growth with U.S. Systemwide sales totaling $3.14 billion for the quarter and maintaining overall traffic and dollar share in the QSR burger category. The company also reported total revenues of $566.7 million for the quarter, up 2.9% from the same period in 2023.
LONG TERM NNN GROUND LEASE WITH RENTAL INCREASES – Wendy’s operates on a triple-net (NNN) ground lease with over twelve and a half (12.5+) years of term remaining and a low rent of $95,000. The triple-net (NNN) lease structure allows for a completely hands-off passive form of ownership. The lease offers rental increases of ten (10%) percent every five (5) years throughout the base term and option periods.
PRIME SIGNALIZED INTERSECTION LOCATION – Wendy’s sits at the corner of a signalized intersection between Bankhead Highway (35,200 VPD) and Somerset Place where the property benefits from excellent visibility. Additionally, Wendy's is an outparcel to Carrollton Exchange, a shopping center which features other top restaurant chains including McDonald’s and LongHorn Steakhouse; the 19th most visited location within the LongHorn Steakhouse chain. (Placer.ai)
ATLANTA MSA – Carrollton is located approximately forty miles (40 mi.) southwest of Atlanta, Georgia, and part of the Atlanta metro area. The Atlanta metro area is the 6th largest MSA in the United States and is home to a population of over 6.3 million people.
BUSY RETAIL CORRIDOR WITH NATIONAL RETAILERS – Bankhead Highway (35,200 VPD) is a main thoroughfare in the area that is host to numerous national retailers including: CVS Pharmacy, Wells Fargo Bank, Big Lots, Ollie’s Bargain Outlet, Hibbett Sports, Advance Auto Parts, O’Reilly Auto Parts, Dollar Tree, Dollar General, Family Dollar, Express Oil Change, Chick-Fil-A, Taco Bell, KFC, Burger King, and Zaxby’s, further demonstrating the strength of the retail corridor.
NEARBY DEVELOPMENT – The surrounding area is welcoming new developments including Morgan Landing, a new construction 74-home community by Smith Douglas Homes, less than one mile (1 mi.) from the property.
In Cooperation With: Brian Brockman, Bang Realty-Georgia, Inc. (License #: 378952)
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,524 SF
Building Class
B
Year Built
2022
Price
$1,776,000
Price Per SF
$704
Cap Rate
5.35%
NOI
$95,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.77 AC
NEARBY MAJOR RETAILERS
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PROPERTY TAXES
Parcel Number | C05-0310067 | Improvements Assessment | $289,271 |
Land Assessment | $308,000 | Total Assessment | $597,271 |