Listed by Mid-America Real Estate, Mid America Real Estate Milwaukee
$1,740,000
Wendy's
Details
Property Type Retail
Sub Type Restaurant
Square Footage 3,900
Cap Rate 5.74%
NOI $99,825
Occupancy 100%
Tenancy Single
Brand/Tenant Wendy's
Lease Type NNN
Lease Term 50.2
Lease Expiration 12/30/2035
Remaining Term 9.5
Price per SqFt $446
Year Built 1984
Buildings 1
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 11/11/1985
Retail | 5.74% CAP | 3,900 SqFt
Marketing description
Mid-America Real Estate, in cooperation with Mid-America Real Estate - Wisconsin LLC, has been retained on behalf of the owner to sell the 100% simple interest in the 3,900 square foot, freestanding Wendy’s located at the Southwest corner of Silvernail Plaza off Silvernail Road, Waukesha, WI. The subject offering features a 9.5-year NNN ground lease located as an outlot to a lineup of highly desirable tenants.
Investment highlights
- LARGE FRANCHISEE | MANNA HOSPITALITY | 200+ LOCATIONS
- The subject property is operated by Manna Hospitality, a large-scale multi-concept operator currently running 139 Wendy’s locations, 57 Fazoli’s, 10 Golden Corrals, and several additional concepts. Wendy’s is one of the most iconic quick-service restaurant brands in the world, ranking as the third largest hamburger chain in the United States behind only McDonald’s and Burger King. With more than 7,000 locations across 30 countries and U.S. territories, the brand maintains a dominant domestic footprint and a rapidly expanding international presence.
- MARK-TO-MARKET OPPORTUNITY | NO OPTIONS REMAINING
- The in-place annual rent of $99,825 NNN is considered a below-market rent structure providing investors with a low rent basis. The lease provides no further options allowing investors to mark-to-market the lease at expiration.
- 41 YEAR OPERATING HISTORY
- Wendy’s has operated on this site for 41 years and in 2015 committed to a 20-year lease term.
- SHADOW GROCERY ANCHOR | METRO MARKET (KROGER)
- The subject property features a strong shadow grocery anchor in Metro Market, one of the most popular upscale grocery chains in Wisconsin. Competing primarily with Sendik’s, Trader Joe’s, and Whole Foods, Metro Market was acquired by Kroger in 2015 and is positioned as the premier upscale concept relative to its sister store, Pick ‘n Save. Additional tenants in the plaza include Dollar Tree, Firestone, Hallmark, and UPS, among others, driving strong traffic into the center. The combination of a dominant shadow anchor, diverse co-tenancy, and excellent site accessibility reflects a real estate profile well suited to support long-term tenant performance.
- MULTIPLE POINTS OF ACCESS FROM MAIN THOROUGHFARE
- The subject property exhibits strong real estate fundamentals with excellent ingress and egress from both eastbound and westbound directions along Silvernail Road (8,000 VPD). Located just south of the interchange between Grandview Boulevard (23,800 VPD) and Interstate 94 (85,000 VPD), the subject property is well positioned to capitalize on the surrounding traffic activity and benefits from excellent visibility to eastbound and westbound travelers along Silvernail Road.
- EXCELLENT DEMOGRAPHICS | DENSITY WITH HIGH INCOMES
- The subject offerings’ location in Milwaukee’s western suburbs and convenient regional access provide excellent drawing power for an attractive demographic profile. Within three miles of the offering there are 51,605 residents enjoying average household incomes of more than $105,764 and median home values of $374,852. This desirable customer base stems from the property’s proximity to major employers, including GE Healthcare, Generac, Harken, Baird Private Wealth Management, ProHealth Care, Anthem Blue Cross Blue Shield, among others.
Listing Contacts
Listed by Mid-America Real Estate, Mid America Real Estate Milwaukee
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$99,825.00
$8,318.75/mo
Valuation Metrics
0
DSCR
5.74%
Cap Rate
5.74%
ROI
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