436 Main St Lapeer, MI 48446-2427
- Drive through restaurants
- 2,431 SF
- 1.06 lot acres
Current Use by Public Records
- Drive through restaurants
Property Details for 436 Main St
- Year built
- 1976
- Lot size
- 1.06 lot acres
- Property size
- 2,431 SF
- Zone code
- B2 GEN
- Property type
- Drive through restaurants
- APN
- L21-55-800-040-00
- APU
- L215580004000
Description
This exceptional investment opportunity presents a Wendy's restaurant located at 436 S Main St, Lapeer, MI 48446. The property boasts a 2,273 square foot building situated on a 0.95-acre lot. The property is subject to a 20-year absolute triple-net (NNN) lease, originally commencing July 1, 2015, and expiring June 30, 2035, leaving approximately 10.6 years remaining on the base term. The current annual net operating income (NOI) is $119,070, representing a 5.85% cap rate based on the asking price of $2,035,384. The lease includes a 5% rent increase every five years throughout the base term and two 5-year renewal options. Built in 1976, this single-story building enjoys 100% occupancy. The tenant is Wendy's, subleased to WEN NATIONAL, LLC, a Wendy's operator with 40+ units. This Wendy's location has operated successfully for over 45 years, providing a strong track record and demonstrating the enduring appeal of this established quick-service restaurant. The property offers a compelling combination of long-term lease stability, consistent cash flow, and a proven operational history, making it an attractive addition to any investment portfolio. The property is offered at $895.46 per square foot.
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
- Lapeer
- County
- Lapeer
- State
- Michigan
- Longitude
- -83.3199
- Latitude
- 43.0466
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
