Grand Rapids Wendy’s for Sale
4343 Patterson Avenue SE, Kentwood, MI 49512
Property Description
Price: $2,570,000
Price Per/SF: $779.50
Land Area: ±1.50 Acres
Cap Rate: 5.25%
Gross Leasable Area: ±3,297 SF
Year Built: 2004/2024
Investment Highlights
Introducing a New, 20-Year Wendy’s Sale-Leaseback
Full Remodel Scheduled for June 2024
Located at Entry to Gerald R. Ford International Airport Serving Over 3 Million Passengers Each Year
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
Additional Information
Prime Retail Location
- Located Near the Intersection of 44th St and Patterson Ave (Combined Traffic Counts Exceed 47,000 Cars Per Day)
- The Subject Property boasts an Expansive 1.5-Acre Lot, Providing Ample Space for 66 Parking Spots
- Located Next to the Gerald R. Ford International Airport
- Population During the Daytime More than Doubles Due to the Massive Workforce in the Immediate Area Which Provides a Large Customer Base
Experienced 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 380 Locations in 16 States
- Strong Performing Restaurant with Increasing Sales (Please Contact Agent for More Details)
- Scheduled 1.5% Annual Rental Increases Throughout the Initial Term Provide for an Excellent Hedge Against Inflation
Pride of Property Ownership in Grand Rapids, MI
- Dense, Infill Location with Over 113,000 Residents within 5 Miles, Creating a Large Customer Base
- Affluent Area with the Average Household Income Exceeding $102,000 within 5 Miles
Broker of Record: Steve Chaben, Lic. MI 6502387903