Wendy's - Fort Wayne, IN

2215 Maplecrest Rd
Fort Wayne , IN 46815-7627

Wendy's - Fort Wayne, IN - Retail for sale

Overview


JLL is pleased to offer for sale the fee-simple interest in a freestanding, single-tenant Wendy’s (the “Property”, or “Asset”) located in the city of Fort Wayne, Indiana. Opened in 1995, the Property has been a successful Wendy’s for the past 23 years. With a sale leaseback casted in 2016, this Wendy’s is operating with over 17 years remaining on an absolute net lease with 10 percent increases every five years. This lease structure, paired with the operator’s commitment to remodel and update the Property to the new Wendy’s prototype within the next five years, grants ownership security in the continued occupancy by Wendy’s at this location. This offering presents an outstanding opportunity to acquire a passive investment with consistent rent growth over a long primary lease term, guaranteed by the second largest hamburger QSR in the world.

Investment Highlights



The Property is subject to an absolute triple net lease featuring zero landlord responsibilities, 17.3 years of contractual term remaining, ten percent increases every five years, and a corporate guarantee.


Positioned just off the signalized intersection of State Boulevard and Maplecrest Road, the Property benefits from traffic generated by consumers visiting the Kroger anchored, 160,000 SF Georgetown Square shopping center located across the street.


In the next five years, the Operator is committed to remodel this store to the new Wendy’s prototype. This renovation will be paid for by the operator.


The Wendy’s is located just 2.6 miles away from both Indiana University Purdue University Fort Wayne (8,100 enrollees) and Ivy Tech Community College, as well as 2.2 miles away from the regions largest employer, the Parkview Healthcare Community

General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 2215 Maplecrest Rd, Fort Wayne, IN 46815-7627
Land In Acres 0.81
Building Size 3,266  ft2
Financial
Price $2,301,260
Cap Rate 5.00%
Current NOI $115,063.00
Lease
Tenant's Name WENDY'S Company
Lease Type NNN
Annual Rent $115,063.00
Lease Expiration Date 02/14/2036
Remaining Term 16.9Yrs

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