Address: 1601 Del Prado Blvd S, Cape Coral, Florida, United States 33990
Cap Rate: 5.00%
Lease Type: Triple Net (NNN)
Annual Rent: $114,000
Net Operating Income: $114,000
Lease Term Remaining: 20 Years
Rental Increases: 10% Every Five Years
Options: Four, Five-Year Option Periods
Rentable Sq/Ft: 2,595 SF
Rent Sq/Ft: $43.93
Price Sq/Ft: $879
Lot Size: 0.83
This Wendy’s investment property is strategically situated along Del Prado Boulevard. Del Prado Boulevard boasts an average daily traffic counts of approximately 42,100 vehicles. There are more than 171,000 individuals residing within a five-mile radius of the property and more than 417,000 individuals within a ten-mile radius.
This Wendy’s investment property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers, and hospitality accommodations all within a close proximity of this property. Major national tenants include: Publix, Walgreens, TJ-Maxx, Walmart, Staples, Beall’s, HomeGoods, LA Fitness, Planet Fitness, Dollar General, Chase Bank, McDonald’s, Chipotle, KFC, Taco Bell, Little Caesars, Waffle House, Applebee’s, and many other quick service restaurants. There are several hotel accommodations within the immediate area including: The Hampton Inn & Suites and Casa Loma Motel on the Waterfront. This Wendy’s investment property also benefits from being within a close distance to Southwest Florida International Airport, which has over 9,256,500 million passengers annually. This Wendy’s is also within close distance to Cape Coral Hospital, which is a 291-bed state-of-the-art medical facility that serves the greater Cape Coral area. There also many schools in the area, including: Skyline Elementary School, Patriot Elementary School, Challenger Middle School, and Cape Coral High School, which have a combined enrollment exceeding 4,299 students.
The economy in Cape Coral is based on health care services, retail and real estate. Top employers include Lee Memorial Hospital, Lee County School System, Publix Supermarkets, and the City of Cape Coral. Cape Coral is known as a “Waterfront Wonderland” with over 400 miles of navigable waterways, giving the city more miles of canals than any other in the world. In 2016, Cape Coral was named by Forbes as #9 on the list of “Top 25 Cities to Retire in the United States.” Popular Attractions include the Renowned Gulf Coast beaches, verdant golf courses, and family friendly activities like Sun Splash Family waterpark. Visitors can also spend the day in Harbour View Gallery in downtown Cape Coral that show cases local artists, aside multiple family friendly shops and restaurants. Cape Coral’s temperate climate, abundant forests, and access to the Gulf of Mexico make it an ideal destination for boating, fishing, hiking, and many other outdoor activities. This make Cape Coral the perfect destination for outdoor enthusiasts, and from hiking one of the many trails at the Charlotte Harbor Preserve State Park to fishing the Cape Coral Yacht Club there are activities for just about everyone.
FL BROKER OF RECORD: Ryan Nee Lic.# BK3154667