Wendy's
Retail | 5.85% CAP | 2,830 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Wendy's located at 8625 Baymeadows Road, Jacksonville, FL 32256. The site consists of roughly 2,830 rentable square feet of building space on an estimated .9-acre parcel of land. Wendy's is subject to a 20-year Triple Net (NNN) lease, which commenced 9/1/2017. The current annual rent is $115,500 and has scheduled increases of Lesser of CPI or 5% Every Five Years.
Investment highlights
Triple Net Lease – Zero Landlord Responsibilities | Absolute NNN lease with no landlord obligations, with 11.9 years of term remaining and six (6) five-year renewal options.
Substantial Franchisee Guarantee – Meritage Hospitality Group | Lease guaranteed by Meritage Hospitality Group, a public operator with 375+ locations across 15 states.
Structured Rent Escalations | The lease is subject to rent increases every five years, equal to the lesser of 5% or the change in the Consumer Price Index (CPI) over the previous five years. The next increase is scheduled for September 2027.
Recently Renovated to Wendy’s Current Image Standards | Underwent full corporate reimage in 2017 with a significant capital investment, enhancing long-term value and franchise retention at the site.
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