436 S Main St Lapeer, MI
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Long-term NNN lease with corporate guarantee in Lapeer, Michigan.
Type:RETAIL
Property size:
2,273 SFLot size:
1.70 Acres- Added:
- Sep 6, 2023
- Days on Market:
- 967
- Last Refresh:
- Apr 5 at 11:10 pm
Property Features for 436 S Main St
General Information
- Standard status
- Active
- Size
- 2,273 SF
- Lot size
- 1.70 Acres
- Property subtype
- RETAIL
Listing agent Glen Kunofsky
Listing office NNN Pro Group (332) 345-2408
Listing date Sep 6, 2023
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of NNN Pro Group
Overview
Established Wendy's Restaurant For Sale
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Drive through restaurants
Location Insight
- Map
- Local Demand
- City
- Lapeer
- County
- Lapeer
- State
- Michigan
- Longitude
- -83.3185
- Latitude
- 43.0535
Nearby Similar for Sale
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.
