66942 Gratiot Ave - Fast Food FOR SALE


Richmond, MI 48062
$2,571,428 USD
949-350-5431
66942 Gratiot Ave, Richmond, MI for Sale
$2,571,428 USD
Fast Food - FOR SALE
1/7
null | 5.6% Cap Rate

66942 Gratiot Ave
Richmond, MI 48062


HIGHLIGHTS

  • Introducing a Brand New, 20-Year Wendy’s Sale-Leaseback
  • Wendy’s New Global Next Gen Prototype – Grand Opening in September 2024
  • Outparcel to Kroger Anchored Shopping Center
  • Absolute NNN Property with Zero Landlord Responsibilities – Ideal for Investors Not Local to the Market
  • Meritage Hospitality Group is One of the Largest Wendy’s Franchisee’s in the Country with Over 12,000 Employees and 380 Locations in 16 States

OVERVIEW

--NOW OPEN! Wendy’s New Global Next Gen Prototype --Brand New, 20-Year Wendy’s Sale-Leaseback --Outparcel to Kroger Anchored Shopping Center --Prime Retail Location-- -Highly-Trafficked Location Near the Intersection of Gratiot Ave and 31 Mile Rd (Combined Traffic Counts Exceed 28,000 Cars Per Day) -Located in Front of the Only Major Grocery Store within a 6-Mile Radius, Providing for a Consistent Flow of Customers to the Subject Property -Located on Main Retail Corridor in Close Proximity to Several Major Retailers such as Tractor Supply, Jimmy John’s, T-Mobile, Great Clips, CVS, O’Reilly Auto Parts, Verizon, AT&T, Tropical Smoothie Café, Speedway, AutoZone, PNC Bank, and Many More -Affluent Area with the Average Household Income Exceeding $87,000 within 3 Miles --Experienced Wendy’s Franchisee-- -Absolute NNN Property with Zero Landlord Responsibilities – Ideal for Investors Not Local to the Market -Meritage Hospitality Group is One of the Largest Wendy’s Franchisee’s in the Country with Over 12,000 Employees and 380 Locations in 16 States -Scheduled 1.5% Annual Rental Increases Throughout the Initial Term Provide for an Excellent Hedge Against Inflation Broker of Record: Steve Chaben, Lic. MI 6502387903

FOR SALE DETAILS

PRICE

$2,571,428 USD

PRICE/SF

$1,257 USD /SF

CAP RATE

5.6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wendy's - Outparcel to Kroger Anchored Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.65 AC

LAND SF

28,314 SF

ZONING

-

APN/PARCEL ID

07-06-12-227-003

ASK ABOUT THIS PROPERTY

Ron DuongMarcus & MillichapMore Info
949-350-5431

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Ron DuongMarcus & MillichapMore Info
949-350-5431

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.