Wendy's Erie, PA | 4186 Buffalo Rd
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Wendy's Erie, PA 4186 Buffalo Rd
2,214 SF Retail Building Erie, PA 16510 $2,117,466 ($956/SF) 5.25% Cap Rate
Investment Highlights
- Lease guaranteed by The Wendy's Company, NASDAQ Ticker: WEN; Legacy Wendy's that has been in operation for 30+ years
- Relatively low basis for corporately guaranteed net lease asset; Located on a highly trafficked thoroughfare surrounded by National credit tenants
- 30+ national tenants within a 3-mile radius; Strong demographics: 95,438 residents and 36,617 households; Significant traffic volume of 13,890 VPD
- Absolute Net Lease with all expenses paid for by tenant; Property is situated on 42,301 square feet of land on a busy retail corridor
- 1.4 miles to GE Transportation which operates a substantial freight network (with over 23,000 locomotives globally)
- The Wendy's Company (NASDAQ: WEN) has 7,200 locations worldwide; Operating continuously for 55 years
Executive Summary
Corporately Guaranteed Wendy’s in Erie, PA - This property is backed by a lease guaranteed by The Wendy's Company (NASDAQ: WEN) and has been a legacy Wendy's location for over 30 years. It features an absolute net lease, meaning the tenant covers all expenses. Situated on 42,301 square feet of land in a busy retail corridor, the property offers a relatively low basis for a corporately guaranteed net lease asset.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,214 SF
Building Class
B
Year Built
1977
Price
$2,117,466
Price Per SF
$956
Cap Rate
5.25%
NOI
$111,167
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Land Acres
0.97 AC
Zoning
AB3
Parking
35 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
106 FT on U.S. 20
Amenities
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 27-051-150.0-011.05 | Improvements Assessment | $1,524,828 |
| Land Assessment | $169,200 | Total Assessment | $1,694,028 |
PROPERTY TAXES
Parcel Number
27-051-150.0-011.05
Land Assessment
$169,200
Improvements Assessment
$1,524,828
Total Assessment
$1,694,028
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Kyle Gulock -
Matt Kramer -
Joshua Berger -
Century Partners Real Estate Inc.
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Wendy's Erie, PA | 4186 Buffalo Rd
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