Wendy's | 905 Douglas Munroe Blvd
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Wendy's 905 Douglas Munroe Blvd
2,589 SF 4-Star Retail Building Cle Elum, WA 98922 £2,018,721 (£780/SF) 4.85% Net Initial Yield
Investment Highlights
- Stable and passive investment opportunity
- Newly signed 20-year lease featuring desirable 10% increases every five years
- Excellent freeway on/off-ramp location along the primary route from Seattle to Spokane and Tri-Cities that’s ideal for drive-thru restaurant use.
- NNN ground lease with zero Landlord cost responsibilities
- Prime freeway location
- Limited competition with Wendy’s being one of only two national burger drive-thru chains in the immediate market
Executive Summary
The Warner Retail Team and First Western Properties are pleased to present a new construction Wendy’s on a 20-year NNN ground lease. The property is located in Cle Elum at the on/off-ramp of I-90, the primary route from Seattle to Spokane and Tri-Cities, providing a convenient drive-thru stop for passing motorists. Across the street is a Safeway and Fuel Station that ranks in the Top 5% of Safeway’s in the State, validating the popularity of the freeway location for drivers.
This stable opportunity is backed by a very strong credit franchisee that’s one of the largest in Washington and offers one of only a few highly desirable drive-thru assets in the city. Adding to the inherent stability of the asset, tenant’s below-market rent and the leasable nature of drive-thru restaurants further mitigates any turnover risk.
This stable opportunity is backed by a very strong credit franchisee that’s one of the largest in Washington and offers one of only a few highly desirable drive-thru assets in the city. Adding to the inherent stability of the asset, tenant’s below-market rent and the leasable nature of drive-thru restaurants further mitigates any turnover risk.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,589 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2023
Price
£2,018,721
Price Per SF
£780
Net Initial Yield
4.85%
NOI
£97,884
Tenancy
Single
Number of Floors
1
Building FAR
0.10
Land Acres
0.59 AC
Zoning
Entry Commercial
Parking
34 Spaces (13.13 Spaces per 1,000 SF Leased)
Frontage
209 ft on Douglas Munro Boulevard
PROPERTY TAXES
| Parcel Number | 263835 | Improvements Assessment | £0 |
| Land Assessment | £542,449 | Total Assessment | £542,449 |
PROPERTY TAXES
Parcel Number
263835
Land Assessment
£542,449
Improvements Assessment
£0
Total Assessment
£542,449
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Wendy's | 905 Douglas Munroe Blvd
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