WENDY'S 1444 S State St 2,640 SF Retail Building Orem, UT 84097 $1,500,000 ($568.18/SF) 4.03% Cap Rate
INVESTMENT HIGHLIGHTS
- The site operates under a ground lease lease structure, making it a fully passive investment. There is strong potential for upside either through leas
- Land value value in the area trades at around $60.00 PSF. Currently, Wendy’s is paying $22.92 PSF of GLA with market rent hovering around $60.00 PSF f
- Corporate Guaranty with Long Store History
- There are four remaining option periods. The first option includes a two-year term with a 10% rent increase, while the subsequent three options each
- The adjacent northern property recently sold for $2.2 million, equating to $58.64 per square foot of land.
- The lease features a corporate guarantee from Wendy’s Old Fashioned Hamburgers of New York, LLC. They assumed responsibility of the lease in 2007
EXECUTIVE SUMMARY
Kyle Matthews
License No. 10074529-CN00 (UT)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
PROPERTY FACTS
AMENITIES
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Accommodation and Food Services
- -
- -
- -
Wendy's® was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the premise, “Quality is Wendy's Recipe®,” which remains the guidepost of the Wendy’s system. 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. The Wendy’s Company is committed to doing the right thing and making a positive difference in the lives of others. This is most visible through the Company’s support of the Dave Thomas Foundation for Adoption® and its signature Wendy’s Wonderful Kids® program, which seeks to find every child in the North American foster care system a loving, forever home. Today, Wendy’s and its franchisees employ hundreds of thousands of people worldwide with a vision of becoming the world’s most thriving and beloved restaurant brand.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Accommodation and Food Services | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 19-017-0065 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,230,800 |
