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Wendy's 7471 Richlands Hwy 2,465 SF Retail Building Richlands, NC 28574 $3,768,589 CAD ($1,528.84 CAD/SF) 5.90% Cap Rate

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INVESTMENT HIGHLIGHTS

  • 20-Year Absolute NNN Lease
  • Strong unit-level sales
  • 127-Unit Operator

EXECUTIVE SUMMARY

Vestian has been retained by ownership as the exclusive advisors to offer for sale the Wendy’s restaurant (The “Property”) located at 7471 Richlands Highway, Richlands, NC. The Property is subject to a 20-year absolute net lease expiring December 31st, 2044. The operator of the unit is Carolina Restaurant Group (CRG). CRG operates 127 Wendy’s units mainly in North and South Carolina

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,465 SF
Building Class
B
Year Built
2023
Price
$3,768,589 CAD
Price Per SF
$1,528.84 CAD
Cap Rate
5.90%
NOI
$222,347 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.00 AC
Zoning
C - Commercial

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • Accommodation and Food Services
  • -
  • -
  • -

Wendy's® was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the premise, “Quality is Wendy's Recipe®,” which remains the guidepost of the Wendy’s system. Wendy’s is best known for its made-to-order square hamburgers, using fresh, never frozen beef, freshly-prepared salads, and other signature items like chili, baked potatoes and the Frosty® dessert. The Wendy’s Company is committed to doing the right thing and making a positive difference in the lives of others. This is most visible through the Company’s support of the Dave Thomas Foundation for Adoption® and its signature Wendy’s Wonderful Kids® program, which seeks to find every child in the North American foster care system a loving, forever home. Today, Wendy’s and its franchisees employ hundreds of thousands of people worldwide with a vision of becoming the world’s most thriving and beloved restaurant brand.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
Accommodation and Food Services - - -

NEARBY MAJOR RETAILERS

Costa Coffee
Piggly Wiggly
First Citizens Bank
PNC Bank
Food Lion

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
169664
Land Assessment
$699,272 CAD
Improvements Assessment
$417,089 CAD
Total Assessment
$1,116,361 CAD
  • Listing ID: 33671582

  • Date on Market: 2024-10-29

  • Last Updated:

  • Address: 7471 Richlands Hwy, Richlands, NC 28574

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