Wendy's
New Lease & Remodel | Absolute NNN Lease
Marketing description
CBRE is pleased to present Wendy’s for sale, located at 1110 Blanding Blvd in Orange Park, Florida. This site includes a 2,995 SF building on a 1.51-acre parcel and benefits from being situated on Blanding Blvd, which sees over 47,000 vehicles per day. The tenant has been operating successfully at this location for over 30 years and has shown further commitment to the location by signing a brand-new 20-year lease in November 2024, featuring 1.50% annual rent increases, offering a nice hedge against inflation.
The lease is backed by Meritage Hospitality Group, Inc., one of the fastest-growing restaurant operators in the United States and one of the largest Wendy’s franchisees, with over 400 locations across 16 states. In 2024, the company reported $668.8 million in revenue and $42.4 million in EBITDA, reflecting strong and stable performance. Headquartered in Grand Rapids, MI, Meritage is publicly traded (OTCQX: MHGU) and continues to execute an aggressive growth strategy with a target of expanding to 500 restaurants nationwide.
Investment highlights
Strong Franchisee Guarantee | Meritage Hospitality Group is an experienced 388+ unit operator and is one of the largest Wendy’s franchisees in the world
Strong Commitment to Location | The tenant has been operating successfully at this location for over 30 years and signed a new 20-year lease in November 2024
Recent Remodel | The property underwent an extensive remodel in 2022, buyer can be eligible for significant tax advantages through cost segregation analysis and bonus depreciation
Absolute NNN Lease | Zero Landlord Responsibilities
Highly Trafficked | Prominent location on Blanding Blvd with traffic counts exceeding 47,000 vehicles per day
Fee Simple Ownership (Land and Building) | Depreciable asset providing strong tax advantages
Recession-Resilient Asset| Drive-thru equipped property built for
long-term stability
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