Wendy’s Zephyrhills, Florida

$2,571,500
Cap Rate: 5.25%
Available

Property Details

Cap Rate: 5.25%
Price: $2,571,500
Rentable Square Feet: 2,950
Annual Rent: $135,000
Price PSF: $45.76
Land Area: 0.71 Acres
Lease Type: NNN
Lease Term: 20 Years
Option Periods: 5, 5-Year Options
Rent Increases: 1.5% Annually
Lease Expiration: 20 Years from COE

5658 Gall Blvd
Zephyrhills, FL 33540

Investment Highlights

  • Brand New, 20-Year, Triple Net (NNN) Lease
  • Unit is Scheduled for Remodel
  • Location has Been Operating as Wendy’s Since 1981
  • 1.5 Percent Annual Increases in Base Term and Option Periods
  • Five, Five-Year Renewal Options
  • 25 Miles North of Lakeland, and 29 Miles North of Tampa
  • Lease Guaranty Includes 77 Units, 13 of Which are in the Tampa MSA
  • Surrounding National Retailers Include Walmart Supercenter, Publix, Staples, T.J. Maxx, Bealls, Save-A-Lot, Dollar General, Ollie’s Bargain Outlet, Badcock Home Furniture, Buddy’s Home Furnishings, Bank of America, Advance Auto Parts, Cricket Wireless, Subway, Popeyes, Sonic, McDonald’s and Many More

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Wendy’s located in Zephyrhills, Florida. Wendy’s offers a new, 20-year, triple net lease commencing upon close of escrow. There are five, five-year renewal options with 1.5 percent rental increases annually throughout the base term and option periods. The subject property consists of a 2,950-square foot free-standing building, situated on a 0.71-acre parcel. The lease is guaranteed by Starboard Group of Great Lakes which owns and operates 77 units, 13 of which are located in the Tampa MSA.

The subject property is 25 miles north of Lakeland, and 29 miles north of Tampa, in the Tampa MSA. Surrounding national retailers include Beall’s, Dollar General, Ollie’s Bargain Outlet, Badcock Home Furniture, Buddy’s Home Furnishings, Bank of America, Napa Auto Parts, Advance Auto Parts, Cricket Wireless, Subway and many more. The Wendy’s in Zephyrhills is also within close proximity to West Zephyrhills Elementary School and RB Stewart Middle School.

If new browser tab does not open to download the OM, make sure to check that your pop-up blocker is disabled.
You may also contact us at: 954-245-3592 or Click Here to Send Email

For More Information, Download OM:

Download Barry Wolfe V-Card

Download Alan Lipsky V-Card