Marcus & Millichap is pleased to present the exclusive listing for four Wendy’s locations located at 743 E. Main Street, Palmyra, PA 17078, 930 Lancaster Avenue, Reading, PA 19607, 712 Penn Avenue, West Reading, PA 19611, 7142 Hamilton Boulevard, Trexlertown, PA 18087. The properties consist of 2798, 2754,2511, and 3004 square feet of building space, respectively and are situated on approximately 0.78, 0,43, 0.8, 0.89 acres of land, respectively.
The properties are subject to a long-term triple-net (NNN) lease. The current combined rent is $538,996. There are 2% annual rental increases that will continue through the nine (9)-year tenant renewal option. There are currently 9 years remaining on the base term of this lease.
About the Investment:
✓ Long Term Triple-Net (NNN) Lease with Zero Landlord Responsibilities
✓ Original 20 Year Term with 9 Years Remaining
✓ Attractive Annual Two Percent (2.00%) Rental Escalations
✓ One, Nine (9) Year Renewal Option Period
✓ Operates under Yellow Cab, an 83 Unit Franchisee
About the Locations:
Palmyra, PA –
✓ Dense Retail Corridors and Shopping Center| Tenants Include Walmart, , McDonald’s, CVS, Lowes, Texas Roadhouse, Dunkin’ Donuts, Burger King, Arby’s, Pizza Hut, Subway, Wells Fargo, Verizon, and much more.
✓ Strong Traffic Counts | East Main St and North Forge Rd : 21,800 Vehicles Per Day | East Main St and South Forge Rd: 35,900 Vehicles Per Day
✓ Robust Demographics | 25,785 Individuals Within 3-Mile & Over 48,000 Individuals Within 5-Miles
Reading, PA –
✓ Dense Retail Corridors and Shopping Center| Tenants Include Wawa, Family Dollar, T-Mobile, Wells Fargo, Citizen’s Bank, Dunkin’ Donuts, McDonalds & Many More
✓ Strong Traffic Counts | Lancaster Ave and Hancock Blvd: 17,900 Vehicles Per Day | Lancaster Ave and New Holland Rd: 22,100 Vehicles Per Day
✓ Robust Demographics | 121,200 Individuals Within 3-Mile & Over 193,500 Individuals Within a 5-Miles
West Reading, PA –
✓ Dense Retail Corridors and Shopping Center| Tenants Include The Home Depot, Walmart, Wawa, Lukoil, Starbucks, McDonald’s, CVS, Dunkin’ Donuts, Burger King, M&T Bank, and much more.
✓ Strong Traffic Counts | Penn Ave and South Park Rd: 27,700 Vehicles Per Day
✓ Robust Demographics | 35,700 Individuals Within 3-Mile & Over 62,900 Individuals Within 5-Miles
Trexlertown, PA –
✓ Dense Retail Corridors and Shopping Center| Tenants Include Walmart, Giant Food Stores, Kohl’s, Aldi, Wawa, McDonald’s, Panera Bread, Jersey Mike’s Subs & Many More
✓ Strong Traffic Counts | Hamilton Blvd. and Trexeltown Road: 21,020 Vehicles Per Day
✓ Robust Demographics | 46,900 Individuals Within 3-Mile & Over 88,800 Individuals Within 5-Miles
About the Tenant/Brand:
✓ Wendy’s is the World’s Third Largest Quick-Service Hamburger Company
✓ The Wendy’s System Includes More Than 6,500 Franchise and Company Restaurants in the U.S. and 29 Other Countries and U.S. Territories Worldwide
✓ YELLOW CAB HOLDINGS operates eighty-three (83) Wendy’s restaurants throughout Pennsylvania, New Jersey and New York. All their locations are strategically located in suburban towns to benefit from dense populations. Additionally, the principals, who have extensive experience in commercial real estate finance, have partnered with veteran Wendy’s Operating Partners to ensure that day-to-day operations are running efficiently.