Wendy's Recently Extended 15 Year Term 1865 E Sherman Blvd 4 400 pi² Commerce de détail Immeuble Muskegon, MI 49444 2 495 417 $ CAD (567,14 $ CAD/pi²) 5,50% Taux de capitalisation

This is a strong opportunity to acquire a Wendy’s property in Muskegon, Michigan, backed by a recently extended 15-year lease that provides stable, long-term income. The property is offered at $1,818,181, representing a 5.50% cap rate on $100,000 in current NOI. The asset is a 3,193 square foot single-tenant building on a 1.13 acre lot. The lease calls for four 5-year options to renew and increases every 5 years.
The lease is backed by Meritage Hospitality Group, Inc., one of the fastest-growing restaurant operators in the United States and one of the largest Wendy’s franchisees, with over 375 locations across 16 states.
The location is just one block off the US-31 off-ramp along a main east-west commercial corridor, giving the site excellent visibility and easy access. Traffic counts are strong, with over 64,000 vehicles per day on US-31 and nearly 24,000 on Sherman Boulevard. The property sits in a well-established retail area that connects surrounding neighborhoods to major shopping destinations, bringing consistent daily traffic.
Nearby retailers include Walmart, Sam’s Club, Lowe’s, Taco Bell, McDonald’s, and Arby’s, which help drive steady activity in the area. Muskegon is also seeing significant economic growth, with more than $800 million in development projects, including expansions from Chobani and GE Aerospace.