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Wendy's New 10-Yr NNN Lease + Billboard 5555 Sherwood Way
3,450 SF Retail Building San Angelo, TX 76904 $2,846,000 ($825/SF) 5% Cap Rate
Investment Highlights
- Pad site to Walmart and Lowe’s
- Tenant supplies a unit level P&L annually
- 24-year electronic billboard ground lease income with 10% escalations
- Tenant renovated the property and requested a 10-year lease extension
- Sales are $2.5m which is a 5.4% rent to sales ratio
- Largest Wendy's franchisee with over 329 locations
Executive Summary
The property is a pad site to a Walmart Supercenter, with Lowe’s Home Improvement next door. The Wendy’s is open until 1:30 AM. Other nearby retailers include Target.
LOCATION OVERVIEW: Haines City is in Polk County, FL, home to Publix Supermarkets’ headquarters. The city is southwest of Orlando in the Lakeland-Winter Haven Florida MSA. The property is situated at the busiest intersection in Haines City.
TENANT OVERVIEW: Wendy’s is leased to Wendab Associates, part of WendPartners Franchise Group, Wendy’s largest franchisee with 329 locations. The billboard is leased to Southwest Outdoor Advertising, a leading company in Texas and Pennsylvania. The double-sided electronic billboard offers outstanding visibility in a highly desirable location. The Wendy’s also features a large, prominent pylon sign.
Property Facts
Amenities
- Pylon Sign
- Signage
- Drive Thru
About 5555 Sherwood Way , San Angelo, TX 76904
HMX Realty Advisors exclusively presents for sale a recently renovated Wendy's located on a visibility location which includes a prominent billboard. Wendy’s was closed for six months when the tenant paid for a full property renovation. The tenant approached the landlord about extending their lease for an additional 10 years which the owner did. Their reported sales are 2.5 million. Wendy’s absolute triple net rent escalates 8% every 5-years. The property is a pad site to a Walmart Supercenter. A Lowe's Home Improvement is located next to Walmart and a H-E-B grocery is directly across the street with a Chick-Fil-A, Chipotle Mexican Grill and Pande Express. Kohl’s is directly to the west. The Wendy’s is open until 1:30 AM. Up the street from Wendy's is Target, Ashley Furniture, Ross Dress for Less, HomeGoods, Burlington Coat Factory and Petco as well as the Sunset Mall. The 560,000 sf Sunset Mall is anchored by JCPenney, Marshalls, Dillard's and Conn’s HomePlus Appliance Store. The Wendy's is leased to Wendab Associates which is part of WendPartners Franchise Group operating 329 Wendy’s and is Wendy’s largest franchisee. The billboard is leased to Southwest Outdoor Advertising which is a leading outdoor advertising company operating in Texas and Pennsylvania. The billboard is a double-sided electronic billboard which has outstanding visibility and is in a highly desirable location. The Wendy's has a very large, tall and prominent pylon sign as well.
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Retailer
- -
- $39.44
- Triple Net
- Jun 2024
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 Type | Lease End | |
|
|
Retailer | - | $39.44 | Triple Net | Jun 2024 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 08-21925-0001-006-30 | Improvements Assessment | $723,170 |
| Land Assessment | $365,630 | Total Assessment | $1,088,800 |
PROPERTY TAXES
-
Robert James -
HMX Realty Advisors
Presented by
Wendy's New 10-Yr NNN Lease + Billboard | 5555 Sherwood Way
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