4186 Buffalo Rd Erie, PA 16510
- Retail properties
- 2,214 SF
- 0.97 lot acres
Current Use by Public Records
- Wendy's / Fast Food Restaurant / Hamburger Restaurant
Property Details for 4186 Buffalo Rd
- Lot size
- 0.97 lot acres
- Property size
- 2,214 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a Wendy's restaurant in Erie, Pennsylvania. The property boasts a 2,214 square foot building situated on a 0.97-acre lot, operating under an absolute triple-net (NNN) lease with a corporate guarantee from The Wendy's Company (NASDAQ: WEN). The lease, commencing March 21, 2016, and expiring March 31, 2036, has a remaining term of approximately 11.4 years, with four 5-year renewal options. The current annual net operating income (NOI) is $111,167, representing a 5.25% cap rate and a price per square foot of $956.40. Rent increases are structured with a 10% bump every five years. Located at 4186 Buffalo Rd, Erie, PA 16510, this B-Class property benefits from its position in a high-traffic retail corridor, with significant daily vehicle counts and proximity to major employers like GE Transportation. The property's strong location, long-term lease, and corporate guarantee make it an attractive investment with a relatively low basis for a corporately guaranteed net lease asset. The zoning is B1. The property has been a Wendy's location for over 30 years, demonstrating its enduring success in this market. This single-tenant, single-story building offers a passive investment opportunity with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Erie
- County
- Erie
- State
- Pennsylvania
- Longitude
- -80.0063
- Latitude
- 42.1448
