Fast Food For Sale • 3,450 SF
HMX Realty Advisors exclusively presents a recently renovated and extended Wendy’s for sale. The property is a pad site to a Walmart Supercenter, with Lowe’s Home Improvement next door. The Wendy’s is open until 1:30 AM. Other nearby retailers include Target. There is a prominent ground leased billboard included in the sale. This Wendy’s underwent a full renovation funded by the tenant and the tenant extended their lease for an additional 10 years, with reported sales of $2.5 million. The absolute triple net lease includes 8% rent escalations every five years. HEB Grocery is directly across the street with Chick-Fil-A and Chipotle. Kohl's and Sam's Club are adjacent to the south and the 560,000 sf Sunset Mall is to the north with Marshalls, Ross, HomeGoods and JCPenney. This is a very dense retail corridor which supports two HEB grocery stores. The Wendy's is leased to Wendab Associates which is part of WendPartners Franchise Group operating 329 Wendy’s and is Wendy’s largest franchisee. The billboard is leased to Southwest Outdoor Advertising which is a leading outdoor advertising company operating in Texas and Pennsylvania. The billboard is a double-sided electronic billboard which has outstanding visibility and is in a highly desirable location. The Wendy's has a very large, tall and prominent pylon sign as well.
Pad site to Walmart and Lowe’s |
Tenant renovated the property and requested a 10-year lease extension |
Tenant supplies a unit level P&L annually |
Sales are $2.5m which is a 5.4% rent to sales ratio |
24-year electronic billboard ground lease income with 10% escalations |
Largest Wendy's franchisee with over 329 locations |
Cap Rate: | 5.00 % |
Tenant | SF Occupied | Lease End Date |
---|---|---|
Wendy's | 6/8/2024 |
Airport | Drive | Walk | Distance |
---|---|---|---|
San Angelo Regional/Mathis Field | 14 min | - | 7.7 mi |
Parking Available: | Yes |
Reserved: | No |
Spaces Provided: | 24 |
Type: | Surface |
Included in Rent: | Yes |