Wendy's | Katy, TX
Elite Retail Destination | Largest Wendy's Operator | Brand-New Renovation
Marketing description
The Northmarq National Restaurant Group is pleased to offer for sale this singletenant Wendy's located at 307 South Fry Road, Katy, TX 77450. Encompassing 3,002 SF, the Property is set to undergo a full remodel to be brought up to the newest store design. The tenant just exercised a fresh 10-year extension on the absolute NNN lease with zero landlord responsibilities. The Lease also includes 7.5% rental increases every 5 years.
The Lease is signed by HAZA Foods, LLC, which is the largest franchisee in Wendy’s system. HAZA Foods began in 2013 and has quickly grown. They currently operate 420+ stores across Texas, Louisiana, Minnesota, New York, and Ohio. The Property is located in Katy, TX, which is one of the most prominent suburbs of Houston with average household incomes of $139K within 1 mile of the property. Katy is known for having some of the nation's best schools and is ranked one of the best areas to live in the country.
The population of Katy has grown 23%+ since 2020. The Property sits within 3 miles of three major hospitals featuring 533 total beds. In addition, James E. Taylor High School (3,188 students enrolled) and Nottingham County Elementary (841 students enrolled) are both less than 1½ miles from the Property. These traffic drivers provide numerous customers to the area on a consistent basis.
Investment highlights
ELITE RETAIL DESTINATION
This retail corridor of Katy, TX is ranked among the top in the nation. The property features direct access to I-10 (215,001 VPD) via Fry Road (52,582 VPD). The density of high performing stores creates waterfall effects that benefit QSRs like this. These include Walmart (64th percentile nationally), Sam's Club (75th percentile nationally), The Home Depot (89th percentile nationally), Lowes, Target, H-E-B, TJ Maxx (84th percentile nationally), Planet Fitness, Anytime Fitness (61st percentile nationally), Ulta, McDonald's, and many more (Rankings per Placer.ai).
20-YEAR OPERATING HISTORY & RENEWED LEASE EXTENSION
The tenant has operated at this site for 20 years and recently exercised one of their 2, 10-year options, showing strong commitment to the site.
BRAND-NEW RENOVATION
The operator is undertaking a full remodel of the property, which includes the facade, dining area, and drive-thru lane. On average, a Wendy's remodel of this kind costs around $1M.
TOP DEMOS IN THE NATION
This property has some of the best demographics in the country with 12,357 and 114,984 residents within 1 and 3 miles earning AHHI of $139,479 and $119,219, respectively. The neighboring banks, Bank of America and PNC Bank, have deposits of $717M+ and $95M+, highlighting the affluence of the area.
TOP WENDY'S FRANCHISEE IN THE NATION
The location is operated and guaranteed by the largest Wendy's franchisee in the nation with 420 locations operating. This is also part of the 6th largest franchisee group in the nation, which includes and additional 153 Taco Bells.
EXPLOSIVE 5,000+ RESIDENTIAL UNITS EXISTING OR IN DEVELOPMENT
The property is surrounded on all sides by 5,000+ single and multifamily housing developments that have been recently completed or are under construction.
3 MAJOR HOSPITALS WITHIN 3 MILES
There are 3 major hospitals within the immediate 3-mile radius with 533 staffed beds, driving daily demand for the surrounding restaurants.
4,000+ STUDENTS IN IMMEDIATE AREA
More than 4,000 students attend the schools located less than 1½ miles away, creating consistent morning and afternoon traffic.
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