Wendy’s – New Construction | New 20-Year Lease
66942 Gratiot Avenue, Richmond, MI 48062
Property Description
Price: $2,571,428
Land Area: ±0.56 Acres (±24,394 Square Feet)
Cap Rate: 5.60%
Gross Leasable Area: ±2,045 Square Feet
Year Built: 2024
Investment Highlights
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
Contact Information
Craig Elster
Vice President Investments
Director, Net Leased Properties Group
(949) 419-3223
[email protected]
License: CA 01958307
Ron Duong
Senior Managing Director Investments
Senior Director, National Retail Group
(949) 419-3233
[email protected]
License: CA 01438643
Senior Director, National Retail Group
(949) 419-3233
[email protected]
License: CA 01438643