2311 South Gregg Street, Big Spring, TX 79720 For Sale

Marcus & Millichap is pleased to present the opportunity to acquire a newly constructed, single-tenant Wendy’s located at 2311 South Gregg Street in Big Spring, Texas. Completed in 2023, the property features a 2,045-square-foot Wendy’s Next Generation prototype situated on approximately 0.59 acres, incorporating a drive-thru, walk-up window, and modern building design intended to support high-frequency quick-service demand.

The asset is leased to Meritage Hospitality Group under a long-term NNN lease, providing investors with passive ownership. The lease commenced on December 12, 2023, with 18 years of primary term remaining, annual 1.50% rent escalations, and six 5-year renewal options, offering extended income visibility and long-term optionality.

Offered at a 6.0% cap rate, the property generates $169,987 in annual NOI, supported by consistent contractual rent growth throughout the lease term. Annual rent increases are scheduled every year, reaching approximately $218,947 by year 18, providing a built-in hedge against inflation and enhancing long-term yield.

The Wendy’s is positioned within one of Big Spring’s primary retail corridors, surrounded by major national retailers including Walmart, H-E-B, McDonald’s, Arby’s, and Pizza Hut, and directly across from the West Texas VA Hospital, which serves over 79,000 veterans annually. The site benefits from strong daily traffic drivers including healthcare, retail, education, and nearby residential density, reinforcing the long-term viability of the location for quick-service dining.