New Port Richey, FL - Wendy's

Description:

• The lease is franchisee guaranteed by JAE Restaurant Group, LLC, nationally recognized, and an established Wendy’s franchisee with over 210+ locations
• More than 11 years remaining in their initial term with 3 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 2% rental increases every year throughout the initial term and at the beginning of each option period, generating NOI and hedging against inflation
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Ideal, management-free investment in a state with no income tax

• Wendy’s is located along US Highway 19, a major retail and commuter thoroughfare averaging 65,000 vehicles passing by daily
• Wendy’s is complete with a drive-thru lane, providing ease and convenience for customers
• Restaurants with drive-thrus typically generate 60-70% of restaurant sales, mitigating the impact of COVID-19
• The asset is equipped with a large pylon sign, creating excellent visibility along US Highway 19
• The property is located near Southgate Center, shopping center anchored by Publix, and includes other national/credit tenants such as Big Lots, Chase Bank, The UPS Store, Wells Fargo, McDonald’s, and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for Wendy’s
• More than 137,600 residents and 40,207 employees support the trade area
• $60,292 average household income