Wendy's | 10-Yr NNN | University Location | 2735 Reynolda Rd
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Wendy's | 10-Yr NNN | University Location 2735 Reynolda Rd
3,177 SF Retail Building Winston-Salem, NC 27106 $2,276,000 ($716/SF) 6.25% Cap Rate
Investment Highlights
- Long-term lease | Approximately 10 years remaining on the base lease term of the absolute NNN lease
- Lease is guaranteed by Uncommon Hospitality, LLC with ±25 units under management
- Direct access and visibility from Reynolda Road which sees 30,000 VPD
- Site is operated by Meritage Hospitality Group, Inc., the nation’s premier Franchise owner-operator/developer with about 390 Wendy's locations
- University location | About 1 mile from Wake Forest University | 9,121 students
- Dense and affluent area | 58,100+ residents with an average household income exceeding $101,800 within a 3-mile radius
Executive Summary
PROPERTY HIGHLIGHTS
• Long-term lease | Approximately 10 years remaining on the base lease term
• Passive investment | Tenant is operating under an absolute NNN lease | Zero Landlord responsibilities
• Site is operated by Meritage Hospitality Group, Inc., the nation’s premier Franchise owner-operator/developer and one of the fastest-growing restaurant companies in the U.S. with about 390 Wendy’s locations across 16 states | Their other brands include Taco John’s (7), Morning Belle (3), & Stan’s Tacos (1)
• On track to develop 40 new Wendy’s locations and re-image 100% of its existing restaurants by the end of 2024
• Opened the first Next Gen Wendy’s restaurants
• Signed an exclusive 55-store development agreement with Taco John’s that includes additional, exclusive rights to develop more than
200 sites
• $672.5MM in systemwide sales in 2023
• Lease is guaranteed by Uncommon Hospitality, LLC with ±25 units under management
• Direct access and visibility from Reynolda Road which sees 30,000 VPD
• University location | About 1 mile from Wake Forest University | 9,121 students
• 10% rent increases every 5 years throughout the initial term and options
• Across the street from Reynolda Manor shopping center | Anchored by Lowes Foods, Pet Supplies Plus, and Planet Fitness
• Walking distance to strong national tenants such as Harris Teeter, Lidl, Burlington, Food Lion, McDonald’s, Panera Bread, Wells Fargo, Dunkin’, T-Mobile, Verizon, Sheetz, Culver’s, National Tire & Battery, Firestone, among others
• Dense and affluent area | 58,100+ residents with an average household income exceeding $101,800 within a 3-mile radius
WENDY'S HIGHLIGHTS
• Wendy’s is the 2nd highest-grossing hamburger chain in the U.S. and 3rd highest-grossing globally with 7,000+ locations worldwide (30
countries) and ±$3.5B in sales in 2023
• 2023 was Wendy’s 13th consecutive year of global same-restaurant sales growth
• Ranked #5 on Nation’s Restaurant News’ Top 500 Report
• 6,000+ of locations are in the U.S.
• Opened nearly 250 new restaurants globally in 2023 | Plans to grow to 7,600-7,800 units by the end of 2025
• Long-term lease | Approximately 10 years remaining on the base lease term
• Passive investment | Tenant is operating under an absolute NNN lease | Zero Landlord responsibilities
• Site is operated by Meritage Hospitality Group, Inc., the nation’s premier Franchise owner-operator/developer and one of the fastest-growing restaurant companies in the U.S. with about 390 Wendy’s locations across 16 states | Their other brands include Taco John’s (7), Morning Belle (3), & Stan’s Tacos (1)
• On track to develop 40 new Wendy’s locations and re-image 100% of its existing restaurants by the end of 2024
• Opened the first Next Gen Wendy’s restaurants
• Signed an exclusive 55-store development agreement with Taco John’s that includes additional, exclusive rights to develop more than
200 sites
• $672.5MM in systemwide sales in 2023
• Lease is guaranteed by Uncommon Hospitality, LLC with ±25 units under management
• Direct access and visibility from Reynolda Road which sees 30,000 VPD
• University location | About 1 mile from Wake Forest University | 9,121 students
• 10% rent increases every 5 years throughout the initial term and options
• Across the street from Reynolda Manor shopping center | Anchored by Lowes Foods, Pet Supplies Plus, and Planet Fitness
• Walking distance to strong national tenants such as Harris Teeter, Lidl, Burlington, Food Lion, McDonald’s, Panera Bread, Wells Fargo, Dunkin’, T-Mobile, Verizon, Sheetz, Culver’s, National Tire & Battery, Firestone, among others
• Dense and affluent area | 58,100+ residents with an average household income exceeding $101,800 within a 3-mile radius
WENDY'S HIGHLIGHTS
• Wendy’s is the 2nd highest-grossing hamburger chain in the U.S. and 3rd highest-grossing globally with 7,000+ locations worldwide (30
countries) and ±$3.5B in sales in 2023
• 2023 was Wendy’s 13th consecutive year of global same-restaurant sales growth
• Ranked #5 on Nation’s Restaurant News’ Top 500 Report
• 6,000+ of locations are in the U.S.
• Opened nearly 250 new restaurants globally in 2023 | Plans to grow to 7,600-7,800 units by the end of 2025
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,177 SF
Building Class
B
Year Built
1994
Price
$2,276,000
Price Per SF
$716
Cap Rate
6.25%
NOI
$142,238
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.90 AC
Zoning
HB-S HIGHW
Parking
43 Spaces (13.53 Spaces per 1,000 SF Leased)
Frontage
150 FT on Reynolda
Amenities
- Bus Line
- Pylon Sign
- Signage
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 6817-73-0220 | Improvements Assessment | $1,070,500 |
| Land Assessment | $559,400 | Total Assessment | $1,629,900 |
PROPERTY TAXES
Parcel Number
6817-73-0220
Land Assessment
$559,400
Improvements Assessment
$1,070,500
Total Assessment
$1,629,900
Contacts
-
Calvin Short -
Ransome Foose -
Matt Coates -
Gary Chou -
Aron Cline -
Berkeley Capital Advisors
1 of 6
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Wendy's | 10-Yr NNN | University Location | 2735 Reynolda Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.