Wendy's 620 S Main St
2,800 SF 100% Leased Retail Building Watervliet, MI 49098 $2,477,679 ($885/SF) 5.60% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-Year Triple Net Lease (NNN) The landlord has zero lease responsibilities.
- Strong Brand Recognition Wendy's is the World's number three hamburger chain.
- Attractive Rental Increases Lesser of change in CPI, or 1.50% Annually.
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Wendy's located at 620 South Main Street, Watervliet, MI 49098. The site consists of roughly 2800 rentable square feet of building space on an estimated 1.2-acre parcel of land. This Wendy's is subject to a 20.00-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $138,750 and has scheduled increases of Lesser of Change in CPI or 1.50% Annually.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,800 SF
Building Class
C
Year Built
2024
Price
$2,477,679
Price Per SF
$885
Cap Rate
5.60%
NOI
$138,750
Percent Leased
100%
Building Height
1 Story
Building FAR
0.05
Lot Size
1.20 AC
Opportunity Zone
Yes
Zoning
B2
PROPERTY TAXES
| Parcel Number | 11-78-0027-0073-00-7 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $87,300 |
