Wendy’s NNN Lease Top Performing Location
Retail | 6.25% CAP | 3,138 SqFt
Marketing description
Marcus & Millichap is pleased to present for sale this absolute triple net leased Wendy’s Restaurant with drive-thru, located at 949 North Wesleyan Boulevard in Rocky Mount, North Carolina.
This Wendy’s has a successful 26 year history at a top tier location and is in the top 16 percent of the entire Wendy’s chain and the top 8 percent of the Wendy’s restaurants located in the State of North Carolina.
This Wendy’s is located in a busy retail hub with numerous national and regional retailers nearby including Target, Starbucks, Walmart, Red Lobster, McDonald’s, Toyota, Lidl, Golden Corral, Big Lots, Rainbow, Joann’s Fabrics, Subway, Verizon, Tractor Supply Co. and many more.
The subject property consists of a 3,138 square foot restaurant with drive thru window and ample parking on a large 0.95-acre parcel of land. It is strategically located at the signalized intersection of North Weslayan Boulevard and Sutter’s Creek Boulevard (Combined daily traffic count over 36,000 vehicles per day).
This Wendy’s is listed at a 6 percent cap rate with 8 years remaining on the 20 year lease and generous 10 percent increases every five years with four 5-year option periods.
Wendy’s was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the premise “Quality is our Recipe.” Today Wendy’s Company is the world’s third largest quick service hamburger restaurant chain and employs thousands of people in its franchises with over 7,000 restaurants all over the world and annual revenue exceeding $2.2B. Wendy’s is best known for made-to-order square hamburgers using fresh and never frozen beef, freshly made salads, chili, baked potatoes and the Frosty Dessert.
Investment highlights
■ Top 16% in Performance in the Entire Wendy’s Chain and Top 8% in the State of North Carolina as per Placer.AI
■ Long and Successful 26+ Year Operating History at this Location
■ Established Wendy’s Location with more than 8+ Years Remaining on the Original 20 Year Lease
■ Absolute NNN Lease – No Landlord Responsibilities
■ Strong 10% Increases in Rent Every 5 Years During the Base Term and the Options
■ Situated Half a Mile from the US Hwy 64 Exit (N Wesleyan Blvd) at the Entrance to a Big Lots/Tractor Supply Anchored Shopping Center
■ High Traffic Flow Corner Signalized Intersection – Large .96 Acre Lot
■ The Wendy’s Company is the World’s Third Largest Quick Service Hamburger Company with 7,00+ Restaurants Globally and Over $2.2+ Billion Annual Sales
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