Former Wendy’s – Drive Thru Equipped

Highlights:

• 2,845 SF drive-thru equipped building situated on 0.90 acres in the heart of Waterford, Michigan.
• Former Wendy's restaurant location for decades, offering a proven quick-service restaurant layout and infrastructure
• Current Tenant in Place Through 12/31/2027 - Wendy’s continues to occupy the property through December 31, 2027, paying $4,738.68 per month. This provides a buyer with in-place rental income while they evaluate and implement a backfill, re-tenanting, or redevelopment plan.
• Constructed in 1982 with an existing drive-thru configuration, making it well-suited for purchase and/or lease by restaurant, coffee, fast casual, retail, medical, or service-oriented users.
• Excellent signage, visibility, and frontage along heavily traveled Elizabeth Lake Road.
• Strong accessibility with excellent ingress and egress for customers from multiple directions.
• Located near the intersection of Elizabeth Lake Road and Cass Lake Road, one of Waterford's primary commercial corridors.
• Positioned within a dense suburban trade area surrounded by established single-family residential neighborhoods that provide a consistent customer base.
• Strong retail demographics with an average population exceeding 70,000 residents within a 3-mile radius.
• Located in Waterford Township, an Oakland County suburb of Detroit, one of the most affluent and densely populated counties in Michigan.
• Surrounded by a strong mix of national retailers, including McDonald's, Burger King, AutoZone, O'Reilly Auto Parts, and numerous additional retail, restaurant, and service operators.
• Rare opportunity to purchase and/or lease a highly visible freestanding drive-thru property in a mature and established retail corridor.

Description:

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Waterford is in the geographic center of Oakland County, Michigan, and is located about 35 miles north of Detroit, Michigan's largest city. Waterford has an estimated population of 72,166. With 32 lakes and streams throughout the community, there is plenty of opportunity for a diverse array of water sports activities (fishing, canoeing, skiing, tubing, sailing, and more). The parks, lakes, and streams also provide great winter fun. Snowmobiling, ice skating, and cross-country skiing keep visitors entertained.

Oakland County is a county in the state of Michigan. It is part of the metropolitan Detroit area, located northwest of the city. As of the 2020 Census, its population was 1,274,395, making it the second-most populous county in Michigan, behind neighboring Wayne County. The county was founded in 1819and organized in 1820. Oakland County is composed of 62 cities, townships, and villages, and is part of the Detroit-Warren-Dearborn, MI Metropolitan Statistical Area.

Oakland County is among the ten highest-income counties in the United States with a population of over one million people. The county's knowledge-based economic initiative, coined "Automation Alley", has developed one of the largest employment centers for engineering and related occupations in the United States. General Motors, Ford, and Chrysler are major employers within southeast Michigan and have a significant presence in Oakland County. It is also home to Oakland University, a large public institution that straddles the border between the cities of Auburn Hills and Rochester Hills.

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