Current Use by Public Records
- Retail properties & Spaces
Property Details for 1495 Ca-46
- Year built
- 2024
- Lot size
- 1.47 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a brand-new, 2,800 square foot Wendy's restaurant situated on a 1.465-acre lot in Wasco, California. The property is a ground lease with an absolute NNN lease structure, offering significant long-term stability and minimal landlord responsibilities. The lease commenced August 15, 2024, and has a remaining term of 19.8 years, extending to August 31, 2044, with two 5-year and one 4-year 10-month renewal options. Rent increases by 10% every five years, ensuring consistent income growth. The property boasts a strong net operating income (NOI) of $122,500, resulting in a 4.75% cap rate and a price per square foot of $921.07. Located at 1495 CA-46, this highly visible location on Paso Robles Highway (18,600 AADT) benefits from its proximity to California State Route 43 and is anchored by Grocery Outlet, adjacent to a new Dutch Bros Coffee. The area features strong demographics, with a population of 28,487 and a projected growth rate of 9.31%, and an average household income of $68,122 within a five-mile radius. The site's strategic location within a major logistics hub, with easy access to Interstates and State Highways, further enhances its appeal. The asking price for this exceptional investment is $2,579,000. This Wendy's franchisee-operated location offers a compelling combination of strong tenant credit, a long-term lease, and significant growth potential in a thriving market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wasco
- County
- Kern
- State
- California
- Longitude
- -119.464
- Latitude
- 35.6146
