Address: 301 N Beneva Rd, Sarasota, Florida, United States 34232
Cap Rate: 5.00%
Lease Type: Triple Net (NNN)
Annual Rent: $98,000
Net Operating Income: $98,000
Lease Term Remaining: 19.9 Years
Rental Increases: 10% Every Five Years
Options: Four, Five-Year Option Periods
Rentable Sq/Ft: 2,851 SF
Rent Sq/Ft: $34.37
Price Sq/Ft: $687
Lot Size: 0.52
This Wendy’s investment property is situated along North Beneva Road, which intersects State Road 780. North Beneva Road and State Road 780 boast average daily traffic counts of approximately 22,220 vehicles and 32,000 vehicles, respectively. There are more than 171,000 individuals residing within a five-mile radius of the property and more than 380,000 individuals within a 10-mile radius.
The subject property benefits from being well-positioned in a highly populous and affluent area of Sarasota with over $83,000 in average household income in a 10-mile radius. This Wendy’s is located on a retail corridor consisting of national and local tenants. Major national tenants include: Publix, CVS Pharmacy, Walgreens, Bealls, Dollar Tree, Wells Fargo, Pizza Hut, and many more. Additionally, several hospitality accommodations lie within close proximity of the subject investment property. These include: Homewood Suites by Hilton, Carlisle Inn Sarasota, Baymont by Wyndham Sarasota, and more. The subject property is approximately six miles from Sarasota-Bradenton International Airport, which experiences more than 1,300,000 passengers a year. This Wendy’s investment property is also approximately four miles away from Sarasota Memorial Hospital, an 819 licensed-bed medical facility.
Sarasota is the seat of Sarasota County located on the southwestern coast of Florida. The area is renowned for its cultural and environmental amenities, beaches, resorts, and the Sarasota School of Architecture. Sarasota is the home of the Sarasota Orchestra, which was founded by Ruth Cotton Butler in 1949 and known for years as the Florida West Coast symphony. It holds the three-week-long Sarasota Music Festival that is recognized internationally and attracts renowned teachers and the finest students of chamber music. Sarasota is also home to the Municipal Auditorium—Recreation Club, built by the Works Progress Administration, the municipal government, and local residents and business owners, which has become a center for sports, entertainment and recreation. The sports activities have ranged from badminton, basketball, boating, lawn bowling, and shuffleboard, to tennis. The auditorium hosts clubs for cards, dancing, games, gardening and numerous hobbies. It has also become the community meeting place for commercial and educational shows as well as the venue for local schools and charities to hold events and dances. Tourists are attracted to exhibitions here provided by local business as well as vendors from national circuits. This building was listed in the National Register of Historic Places because of its architecture and for providing the enormous range of community activities that are scheduled there every week.
BROKER OF RECORD: Ryan Nee Lic.# BK3154667