Wendy’s has 14+ years remaining on a 20 year Absolute NNN lease with 7% rental escalations every 5 years and four five-year renewal options. The tenant, Wendwise Corp. is an experienced three-unit Wendy’s franchisee. The subject location has been successfully open and operating for decades, with a 9.60% rent-to-sales ratio and is fully remodeled showing the tenants commitment to the site!
Wendy’s is located in Wise, Virginia just off Highway 23 in the main retail corridor with excellent drive-by visbility! Nearby retailers to this asset include Peebles, Save-A-Lot & Tractor Supply Co.; nearby retailers include Lowe’s Home Improvement, Walmart Supercenter, Food City, Ollie’s Bargain Outlet, Dollar Tree, Goodwill, Burke’s Outlet, Belk, Maurices, Hibbett Sports, Sally Beauty, AutoZone, Advance Auto Parts, etc. Wendy’s is located just 2 miles from The University of Virginia’s College at Wise (2,021 students).
*In Association with Virginia Local Broker: Andrew T. Knight, New England Commercial Brokerage, Inc. #225214094