Wendy's - Outparcel to Kroger Anchored Center | 66942 Gratiot Ave
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Wendy's - Outparcel to Kroger Anchored Center 66942 Gratiot Ave
2,045 SF Retail Building Richmond, MI 48062 £2,028,857 (£992/SF) 5.60% Net Initial Yield
Investment Highlights
- Introducing a Brand New, 20-Year Wendy’s Sale-Leaseback
- Outparcel to Kroger Anchored Shopping Center
- Meritage Hospitality Group is One of the Largest Wendy’s Franchisee’s in the Country with Over 12,000 Employees and 380 Locations in 16 States
- Wendy’s New Global Next Gen Prototype – Grand Opening in September 2024
- Absolute NNN Property with Zero Landlord Responsibilities – Ideal for Investors Not Local to the Market
Executive Summary
--NOW OPEN! Wendy’s New Global Next Gen Prototype
--Brand New, 20-Year Wendy’s Sale-Leaseback
--Outparcel to Kroger Anchored Shopping Center
--Prime Retail Location--
-Highly-Trafficked Location Near the Intersection of Gratiot Ave and 31 Mile Rd (Combined Traffic Counts Exceed 28,000 Cars Per Day)
-Located in Front of the Only Major Grocery Store within a 6-Mile Radius, Providing for a Consistent Flow of Customers to the Subject Property
-Located on Main Retail Corridor in Close Proximity to Several Major Retailers such as Tractor Supply, Jimmy John’s, T-Mobile, Great Clips, CVS, O’Reilly Auto Parts, Verizon, AT&T, Tropical Smoothie Café, Speedway, AutoZone, PNC Bank, and Many More
-Affluent Area with the Average Household Income Exceeding $87,000 within 3 Miles
--Experienced Wendy’s Franchisee--
-Absolute NNN Property with Zero Landlord Responsibilities – Ideal for Investors Not Local to the Market
-Meritage Hospitality Group is One of the Largest Wendy’s Franchisee’s in the Country with Over 12,000 Employees and 380 Locations in 16 States
-Scheduled 1.5% Annual Rental Increases Throughout the Initial Term Provide for an Excellent Hedge Against Inflation
Broker of Record: Steve Chaben, Lic. MI 6502387903
--Brand New, 20-Year Wendy’s Sale-Leaseback
--Outparcel to Kroger Anchored Shopping Center
--Prime Retail Location--
-Highly-Trafficked Location Near the Intersection of Gratiot Ave and 31 Mile Rd (Combined Traffic Counts Exceed 28,000 Cars Per Day)
-Located in Front of the Only Major Grocery Store within a 6-Mile Radius, Providing for a Consistent Flow of Customers to the Subject Property
-Located on Main Retail Corridor in Close Proximity to Several Major Retailers such as Tractor Supply, Jimmy John’s, T-Mobile, Great Clips, CVS, O’Reilly Auto Parts, Verizon, AT&T, Tropical Smoothie Café, Speedway, AutoZone, PNC Bank, and Many More
-Affluent Area with the Average Household Income Exceeding $87,000 within 3 Miles
--Experienced Wendy’s Franchisee--
-Absolute NNN Property with Zero Landlord Responsibilities – Ideal for Investors Not Local to the Market
-Meritage Hospitality Group is One of the Largest Wendy’s Franchisee’s in the Country with Over 12,000 Employees and 380 Locations in 16 States
-Scheduled 1.5% Annual Rental Increases Throughout the Initial Term Provide for an Excellent Hedge Against Inflation
Broker of Record: Steve Chaben, Lic. MI 6502387903
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,045 SF
Building Class
B
Year Built
2024
Price
£2,028,857
Price Per SF
£992
Net Initial Yield
5.60%
NOI
£113,616
Tenancy
Single
Number of Floors
1
Building FAR
0.07
Land Acres
0.65 AC
Frontage
137 ft on Gratiot Avenue
Amenities
- Drive Thru
PROPERTY TAXES
| Parcel Number | 07-06-12-227-003 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £95,706 |
PROPERTY TAXES
Parcel Number
07-06-12-227-003
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£95,706
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Wendy's - Outparcel to Kroger Anchored Center | 66942 Gratiot Ave
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