436 S Main St, Lapeer, MI

Listing agent Glen Kunofsky License #49KU1129178

Listing office NNN Pro Group g***@nnnpro.com Show Phone

Listing date Sep 6, 2023

Source Moodyscre

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Overview

The property is a Wendy’s restaurant located at 436 South Main Street in Lapeer, Michigan. It consists of approximately 2,273 rentable square feet of building space on an estimated 0.95-acre parcel of land. The property is subject to a 20-year absolute triple-net (NNN) lease, which commenced July 1st, 2015, with roughly 11 years of the base lease term remaining. The current annual rent is $119,070, with scheduled increases of 5% every 5 years throughout the base term and in each of the two 5-year renewal options. The lease has a corporate guarantee from Wendy’s Properties, LLC, and is subleased to WEN NATIONAL, LLC, which operates over 40 Wendy’s units. The Wendy’s has been operating at this location for over 45 years. A remodel is anticipated before the end of 2024.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Lapeer

County

Lapeer

State

Michigan

Longitude

-83.3185

Latitude

43.0535

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FAQs

What type of property is this?

Drive through restaurant - Long-term NNN lease with corporate guarantee in Lapeer, Michigan.

Where is this drive through restaurant located?

The property is located at 436 S Main St Lapeer, MI.

What are key features of this property?

This property features: Long‑term absolute NNN lease with approximately 11 years of base lease term remaining.; Corporate guarantee from Wendy’s Properties, LLC.; Established operating history of over 45 years at this location.