Wendy's NNN Property For Sale — Richmond, MI
66942 Gratiot Ave, Richmond, MI 48062
This Wendy's property, constructed in 2024, is an exceptional absolute NNN investment opportunity. The lease features a 20-year term with Meritage Hospitality Group, one of the largest Wendy's franchisees, guaranteeing the lease. This prime retail location benefits from high traffic counts exceeding 28,000 cars per day and is strategically positioned in front of the area's only major grocery store. The property is situated on a main retail corridor surrounded by numerous national retailers, attracting a consistent flow of customers. The affluent surrounding area boasts an average household income exceeding $87,000 within a three-mile radius. Annual rental increases of 1.5% provide a strong hedge against inflation. This offering presents a truly passive investment with zero landlord respon…
- Address: 66942 Gratiot Ave, Richmond, MI 48062
- Asking price $2.30M
- 6.25% cap rate
- NOI $144,000
- 18 years remaining
- NNN lease
- Year built: 2024
- Building size: 2,045 SF
- Lease expiration: Sep 1, 2044
- Rent increases: 1.5% annual increases
- Guarantor: Corporate
Location
This Wendy's property is at 66942 Gratiot Ave in Richmond, Michigan.
Asset type: Restaurant