Wendy's | 436-486 S Main St
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Wendy's 436-486 S Main St
2,273 SF Retail Building Lapeer, MI 48446 $1,905,120 ($838/SF) 6.25% Cap Rate
Investment Highlights
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease
- Corporate Guarantee from Wendy’s Properties, LLC
- Approximately 12.1 Years of Base Lease Term Remaining
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for a Wendy’s located at 436 South Main Street in Lapeer, Michigan. The site consists of roughly 2,273 rentable square feet of building space on estimated 0.95-acre parcel of land. This Wendy’s is subject to a 20-year absolute triple-net (NNN) lease, which commenced July 1st, 2015. The current annual rent is $119,070 and is scheduled to increase by 5% every 5 years throughout the base term and in each of the 2, 5-year renewal options.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,273 SF
Building Class
C
Year Built
1976
Price
$1,905,120
Price Per SF
$838
Cap Rate
6.25%
NOI
$119,070
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
0.95 AC
Zoning
Commercial
Frontage
130 FT on Main St
Amenities
- Signage
- Drive Thru
Walk Score ®
Very Walkable (73)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | L21-55-800-040-00 | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $276,700 |
PROPERTY TAXES
Parcel Number
L21-55-800-040-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$276,700
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Wendy's | 436-486 S Main St
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