Wendy's NNN Restaurant
For Sale
$1,894,523
32967 Michigan Ave, Wayne, MI 48184
Freestanding restaurant renovated to Wendy's modern prototype under an absolute NNN lease.
Property Size2,312 SF
Lot Size0.98 Acres
Price / SF$819.43
Days on Market35
Property Features for 32967 Michigan Ave
General Information
Standard status
Active
Size
2,312 SF
Lot size
0.98 Acres
Property subtype
Restaurant
Lease Type
Absolute Net
Site & Location
Traffic Count
26,428 vehicles/day
Highway Access
Yes
Additional Details
Cap Rate
6.5%
Amenities
Absolute NNN Lease w/ ±17 Years Remaining, Expiring May 1, 2043
Zero Landlord Responsibilities
Scheduled 10% Rent Increases Every 5 Years
Two (2) Five-Year Renewal Options for Up to 10 Additional Years
Prime Michigan Avenue (US-12) Location w/ ±26,428 VPD
Fully Upgraded to Wendy's Modern Prototype (Renovated 2016)
Located Within the Detroit MSA, Home to Over 4.3 Million Residents
Wendy's Operates 7,000+ Locations Worldwide w/ $14.0B in 2025 Revenue
Building Details
Building Size
2,312 SF
Year Renovated
2016
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Tyler Bindi · License #License(s): CA: 02116455
(310) 909-2374
Source:
Marcusmillichap
Added: Aug 2
Changed: Aug 31
Last Checked: Sep 4 at 2:00AM
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 Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
This freestanding Wendy's restaurant occupies approximately 2,312 square feet on 0.98 acres and was renovated in 2016 to the brand's modern prototype. The property is secured by an absolute NNN lease with approximately 17 years remaining through May 1, 2043, and no landlord responsibilities. Two five-year renewal options could extend occupancy by up to 10 additional years. Scheduled 10% rent increases every five years support the lease structure, which reflects a 6.50% cap rate.
The property fronts Michigan Avenue (US-12), a major commercial corridor carrying approximately 26,428 VPD. Access to I-275, I-94, and downtown Detroit supports regional connectivity, while Walgreens and Taco Bell are identified as corridor neighbors. The site is also near the Ford Michigan Assembly Plant, a 5-million-square-foot facility with approximately 5,886 employees.
Wendy's operates more than 7,000 restaurants worldwide, providing established brand presence for this single-tenant net-lease property.
The property fronts Michigan Avenue (US-12), a major commercial corridor carrying approximately 26,428 VPD. Access to I-275, I-94, and downtown Detroit supports regional connectivity, while Walgreens and Taco Bell are identified as corridor neighbors. The site is also near the Ford Michigan Assembly Plant, a 5-million-square-foot facility with approximately 5,886 employees.
Wendy's operates more than 7,000 restaurants worldwide, providing established brand presence for this single-tenant net-lease property.
Key Highlights
- Absolute NNN lease with ±17 years remaining through May 1, 2043
- Two (2) five‑year renewal options provide up to 10 additional years
- ±2,312‑square‑foot Wendy's renovated in 2016 to the modern prototype
Property Analytics
Property Profile
Current Use
Lease Details
26,428 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
46k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 31%
Taco Bell
Dining
11,369 visits/mo
0.1 miles
White Castle
Dining
11,024 visits/mo
0.1 miles
Exxon
Shops & Services
9,950 visits/mo
0.3 miles
Wendy's
Dining
9,302 visits/mo
0.1 miles
Valero Energy
Shops & Services
2,962 visits/mo
0.4 miles
Demographics for 48184, MI
17,776
Population
7,739
Households
2.3
Avg Household Size
40
Median Age
16%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
2,469
Density / Sq Mi
$54,572
Median Household Income
$36,548
Median Earnings
$924
Median Rent
$142,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
NNN property - Freestanding restaurant renovated to Wendy's modern prototype under an absolute NNN lease.
Where is this nnn property located?
The property is located at 32967 Michigan Ave Wayne, MI.
What is the asking price?
The asking price for this property is $1,894,523.
What are key features of this property?
This property features: Absolute NNN lease with ±17 years remaining through May 1, 2043; Two (2) five‑year renewal options provide up to 10 additional years; ±2,312‑square‑foot Wendy's renovated in 2016 to the modern prototype
