Wendy's & Lassus

3220 N Anthony Blvd
Fort Wayne , IN 46805-2230

Wendy's & Lassus - Retail for sale

Overview


Jones Lang LaSalle (“JLL”) is pleased to offer for sale the fee simple interest in the free-standing building located at 3220 North Anthony Boulevard in Fort Wayne, Indiana (the “Property”). The Property is net leased to Wendy’s Properties, a subsidiary of Wendy’s corporate, as well as Lassus Handy Dandy, a regional operator of convenience stores and gas stations. The Property is located on the intersection of Anthony Boulevard and Crescent Avenue (30,600 VPD) with ingress egress to both roads. The Property serves a dense local area with over 85,000 residents in a 3-mile radius, including Purdue University Fort Wayne which is just 0.5 miles north. In State Licensee: John Robinson IN Lic#- RC50900387

Investment Highlights


  • Wendy’s and Lassus Handy Dandy are both leased on an absolute NNN basis. Landlord is reimbursed by tenants for Exterior Common Areas.
  • Wendy’s has over 17 years of lease term remaining and 10% contractual rental increases every 5 years.
  • Lassus Handy Dandy has over 5 years of lease term remaining.
  • Located at the intersection of Anthony Boulevard and Crescent Avenue which sees a combined traffic count of over 30,600 VPD.
  • Wendy’s Co. is the world’s second largest quick-service hamburger company with over 6,600 locations.
  • Lassus Handy Dandy is a regional operator of convenience stores and gas stations with 36 total locations.
  • The Property is located just 2 miles north of downtown Fort Wayne and serves a dense population of over 85,000 residents in a 3-mile radius. Also less than one mile away is Purdue University Fort Wayne with approximately 14,000 students enrolled.
  • Fort Wayne is the second largest city in Indiana with a population of 250,000 residents and has been ranked as the #1 place to raise a family in the United States.
General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 3220 N Anthony Blvd, Fort Wayne, IN 46805-2230
Building Size 4,304  ft2
Financial
Price $3,034,000
Cap Rate 5.35%
Current NOI $162,326.00
Lease
Tenant's Name WENDY'S Company
Lease Type NNN
Annual Rent $124,166.00
Lease Expiration Date 02/14/2036
Remaining Term 17Yrs

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