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4964 Federal BlvdDenver, CO 80221
Wendy's - Denver, CO
Asset ClassRetail
Cap Rate5.5%
Deal Size: $2.37 MRetail SF: 2,697Year Renovated: 2017Access Data Room
Absolute NNN Wendy's | Federal Boulevard at I-70
overview of deal

Overview

Cap Rate: 5.50%

NOI: $130,209

Current Occupancy: 100%

Building SF: 2,697 SF

Year Built: 1978

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Investment Highlights

9+ YEARS REMAINING ON AN ABSOLUTE NNN LEASE, ZERO LANDLORD OBLIGATIONS

The lease runs to October 31, 2035, absolute NNN with zero landlord obligations: roof, structure, taxes, insurance and CAM all sit with the tenant. Two automatic five-year renewal terms carry the lease to 2045.

 

FEDERAL BOULEVARD AT I-70, ACROSS 50TH FROM THE REGIS VILLAGE REZONING

One of Denver's highest-volume north-south arterials, a mile from I-70 with downtown five miles southeast. Across West 50th Avenue, Council rezoned 23.5 acres of the Regis campus as Regis Village on December 9, 2025, for mixed-use to 95 feet.

 

UNCAPPED CPI ESCALATIONS EVERY FIVE LEASE YEARS; THE LAST RESET WAS +20.9%

Rent resets every five lease years by the trailing five-year total of annual CPI, and both renewal terms reset on the same formula through 2045. The schedule has run $100,000 at signing, $107,700 in 2020 and $130,209 in 2025, up 30.2%, with no cap. Trailing five-year CPI through July 2026 ran 22.3% nationally and 22.4% in Denver-Aurora-Lakewood per BLS.

 

AKSAN, A FOUR STATE WENDY'S OPERATOR, WITH A PERSONAL GUARANTY

AKSAN United Fortune, Inc. is the Central and Western Colorado division of AKSAN Enterprises, which operates 74 Wendy's across four states through three restaurant entities, per the operator's published profile. The principal has personally guaranteed the lease since 2015, re-ratified in December 2024.

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4964 Federal BlvdDenver, CO 80221

Sales Team

Drew IsaacSenior Managing Director Investments(303) 328-2048drew.isaac@marcusmillichap.com
Adam LewisBroker of Record

License #: ER.100091205

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