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

Tim Hortons
Curves
Teriyaki Madness
Leo's Coney Island
Kroger
Starbucks
Rent-A-Center
Checkers
HOTWORX
ALDI

PROPERTY TAXES

  • Listing ID: 28506574

  • Date on Market: 5/17/2023

  • Last Updated:

  • Address: 436-486 S Main St, Lapeer, MI 48446