Wendy's - Louisville, KY_Property for Sale
Wendy's - Louisville, KY_Property for Sale
978 Breckenridge Lane, Saint Matthews, KY, 40207, US

Wendy's - Louisville, KY

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 3,911 square foot freestanding, single-tenant Wendy’s located at 978 Breckenridge Lane in Louisville, Kentucky (“Property” or “Asset”). In 2021, substantial investments were made to renovate Wendy’s and bring it in-line with the sharper façade seen in newly constructed Wendy’s locations.


The Asset is 100% leased to Stonewall Road Restaurant Group (“SRRG” or “Tenant”), a singularly focused restaurant operations firm, and one of Wendy’s fastest growing and most respected franchisee groups. SRRG currently operates 57 Wendy’s restaurants with significant plans for expansion in the near future. 


The Property sits as an outparcel to the #3 most visited Home Depot in Kentucky with more than 1.1 million visits annually (Placer.ai). The Property is located less than a 15-minute drive from Downtown Louisville along Breckenridge Lane (65,000 VPD), directly adjacent to both Interstate 64 and Interstate 264 (264,000 VPD).

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Attributes

Asking price
₹246,946,000
Cap rate
5.8%
NOI
₹14,346,000
Year renovated
2021
Building area net
363 m²

Media

Investment Highlights

  • ±14.8 years of lease term remaining on an absolute NNN lease with 10.0% rent escalations every 5-years, and 4, 5-year renewal options.
  • Outparcel to the #3 most visited Home Depot in Kentucky
  • Incredible demand characteristics driven by 3-mile AHHI of $111K and 100K+ residents
  • Experienced franchisee with significant plans for expansion
  • Louisville is named the #7 best city to move to in 2024 by Forbes
  • Along Breckenridge Lane (65,000 VPD), directly adjacent to both Interstate 64 and Interstate 264 (264,000 VPD).
Wendy's - Louisville, KY 4_Property for Sale
Wendy's - Louisville, KY 4_Property for Sale

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Wendy's - Louisville, KY (0 Properties)

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Last updated
16 May 2024