436 S Main St Lapeer, MI 48446
Long-term NNN lease with corporate guarantee in Lapeer, Michigan.
Property size:
2,273 SFLot size:
1.70 AcresProperty Features for 436 S Main St
General Information
- Size
- 2,273 SF
- Lot size
- 1.70 Acres
Source:
Moodyscre
Listing Agent: Glen Kunofsky
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
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.
Location Intelligence
Current Use by Public Records
Drive through restaurants
Location Insight
- Map
- Local Demand
- City
- Lapeer
- County
- Lapeer
- State
- Michigan
- Longitude
- -83.31851
- Latitude
- 43.05345
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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 is the asking price?
The asking price for this property is $1,905,120.
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.