Wendy’s

Tallahassee, Florida

NNN Pro Group is pleased to present the exclusive listing for a Wendy’s located at 1828 North Monroe Street in Tallahassee, Florida. The site consists of roughly 2,146 rentable square feet of building space on an estimated 0.60-acre parcel of land. This Wendy’s is subject to a 20-year triple-net (NNN) lease, which will commence at closing. The annual rent is $142,500 and is scheduled to increase by the lesser of the change in CPA and 1.25% annually throughout the base term, beginning in Year 3 and in each of the Six (6), Five (5)- Year option periods.

About the Investment:

Brand New 20-Year Sale Leaseback
Triple Net (NNN) Lease with Zero Landlord Responsibilities
Attractive Rental Increases | Lesser of Change in CPI or One and a Quarter Percent (1.25%) Annually Starting in Year 3
Six (6) Tenant Renewal Periods of Five (5) Years Each
Long Operating History at This Site |Scrape and Rebuild Underway | Site Set to Re-Open in April 2023

Key Details

Price:: $2,714,286
Cap Rate:: 5.25%
Annual Rent:: $142,500
Address:: 1828 North Monroe Street, Tallahassee, Florida 32303
Property Type:: Quick Service Restaurant
Lease Type:: Triple Net (NNN)

Original Lease Term:: 20 Years
Lease Commencement:: Day Following Close of Escrow
Lease Expiration:: 20 Years from Close of Escrow
Lease Term Remaining:: 20 Years
Rental Increases:: Lesser of Change in CPI or 1.25% Annually Starting Year 3
Lot Size:: 0.60 Acres
Building Size:: 2,146 SF
Year Built:: 1979
Year Renovated:: 2023
Tenant:: Wendy’s