About This Restaurant
Investment Highlights
Brand New 20-Year Sale Leaseback Attractive Rental Increases | 10%/ 5 Years Triple Net (NNN) Lease with Zero Landlord Responsibilities
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for a Wendy?s located at 3545 Lakeland Highlands Rd in Lakeland, Florida. The site consists of roughly 3,245 rentable square feet of building space on estimated 1.28-acre parcel of land. This Wendy?s is subject to a 20-year absolute triple-net (NNN) lease, which commences at the close of escrow. The current annual rent is $159,600 and is scheduled to increase by 10% every five years throughout the base term and in each of the 6, 5-year renewal options.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food Fast Food General Retail Restaurant Fast Food
- Building Size 3,245
- Building Class B
- Year Built 2014
- Price 2,900,000
- Price Per SF 894
- Cap Rate 5.50
- NOI 159,600
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.06
- Land Acres 1.28 AC
Amenities
- Freeway Visibility
- Restaurant
- Signage
- Drive Thru
Property Taxes
| Parcel Number | 24-28-32-263536-000010 | Improvements Assessment | $543,836 |
| Land Assessment | $639,412 | Total Assessment | $1,183,248 |
| Date Created: | 2024-07-16 04:13:32 | Last Updated: | 2024-07-16 04:13:32 |
| Address: | 3545 Highlands Rd , Lakeland, Florida, 33803 | ||