Wendy's
Retail | 5.75% CAP | 2,296 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive sale of a single tenant Wendy’s investment property located at 2221 North Baltimore Street in Kirksville, Missouri (the “Property”). The Property consists of a single-story, 2,296 square- foot building with a drive-thru on 0.94 acres. Wendy’s will sign a new 20-year Absolute NNN Lease with six (6), 5-year renewal options at the close of escrow. The lease features attractive 10% rent increases every five years throughout the primary lease and at the start of each renewal option.
Wendy’s is well-positioned along North Baltimore Street (US Highway 63), the primary retail and commuter route serving Kirksville and the surrounding region. The Property benefits from its placement within a highly concentrated retail corridor anchored by Walmart Supercenter, Home Depot, ALDI, Hobby Lobby, and Walgreens, which generate steady traffic and customer activity. In addition to its strong retail setting, the site is located just minutes from Northeast Regional Medical Center, Truman State University, and A.T. Still University, providing a reliable and diverse customer base of residents, professionals, and students. Nearby residential neighborhoods and schools further enhance local demand, while the property’s accessibility and visibility along US Highway 63 ensure excellent connectivity throughout north-central Missouri. Recreational amenities such as Thousand Hills State Park and cultural offerings in Kirksville’s historic downtown add to the city’s consistent draw.
Investment highlights
LONG-TERM SALE LEASEBACK: Wendy’s will sign a brand-new, 20-year Absolute NNN Lease with six (6), 5-year renewal options at the close of escrow.
ATTRACTIVE RENT INCREASES: The lease features attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option, providing the investor with an attractive increase in revenue and a hedge against inflation.
ZERO LANDLORD RESPONSIBILITIES: The Wendy’s lease is Absolute NNN and requires zero landlord responsibilities. The tenant is solely responsible for all service, maintenance, repairs, and replacements, making it an attractive investment for the passive real estate investor.
STRONG OPERATOR: This location is leased to Wendy’s of Missouri, Inc., a 41-unit entity that is owned and operated by Hamra Enterprises, a prominent franchisee and operator of quick-service restaurants across the United States. Founded in 1975, Hamra Enterprises operates multiple franchise brands, boasting a strong presence in the Midwest and New England regions. The company’s diverse portfolio comprises strong national restaurant brands, including Panera Bread, Wendy’s, Caribou Coffee, and Noodles & Company. Hamra Enterprises owns and operates over 195 restaurants.
STRATEGIC RETAIL LOCATION: Wendy’s is prominently located along North Baltimore Street (US Highway 63), the primary commercial and commuter route through Kirksville. The Property is surrounded by a concentration of top national retailers including Walmart Supercenter, Menards, Home Depot, Hobby Lobby, and Walgreens, all of which drive significant traffic to the corridor. Conveniently accessible to Kirksville’s residential neighborhoods, schools, and Northeast Regional Medical Center, the Property also benefits from proximity to Truman State University and A.T. Still University, which together bring thousands of students, faculty, and visitors to the city. Its high visibility along US Highway 63 provides excellent access and connectivity across north-central Missouri.
TRAFFIC COUNTS: Wendy’s is situated next to the signalized intersection of North Baltimore Street and Missouri Route 6, which sees over 11,400 vehicles per day.
RETAIL TRADE AREA: Retailers bringing consumers to the retail trade area include Walmart Supercenter, Lowe’s, Aldi, Tractor Supply Co, Walgreens, Dollar Tree, McDonald’s, Commerce Bank, O’Reilly Auto Parts, Murphy USA, Taco Bell, Break Time, Equity Bank, Goodwill, Pizza Hut, Scotter’s Coffee, Hardee’s, Central Bank, Little Caesar’s, County Bank, Long John Silver’s, Domino’s, Phillips 66, Sonic, Dollar General, and AutoZone.
DEMOGRAPHICS: Over 17,423 people live within 3 miles of the Property with an average household income of $105,178.
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