10219 McPherson RdLaredo, TX 78045
Wendy's
14+ Yrs Remaining on Abs. NNN Lease | Less than .5 Miles from 98th Percentile Shopping Center | Major Industrial Corridor
Overview
Year Built: 2005
Land AC: 0.58
Initial Lease Term: 20 Years
Lease Term Remaining: 14.57 Years
Rent Commencement: 4/19/2019
Expiration Date: 4/30/2039
Roof & Structure: Tenant
Rent Increases: 10% Every Five Years
Options: 4 x 5-Year Options
ROFR: Yes, 15 Days
Investment Highlights
- 14+ years remaining on an absolute triple-net lease with a long-time multi-brand franchisee. The tenant recently executed a 15-year lease that features 10% increases every five years and four five-year options.
- The tenant, RKR Restaurants, is a Wendy’s franchisee owned by Oberoi Restaurants. Oberoi Restaurants currently operates over 50 Wendy’s locations throughout Texas and Florida.
- The subject property is offered well below the replacement cost of a modern QSR building.
- Wendy’s is the 5th largest quick-service restaurant in the world, they operate 415 corporate restaurants while 6,825 are operated by franchisees. Systemwide revenue for FY 2023 was approximately $2.2 billion.
- Positioned less than half a mile from a top-ranking community shopping center anchored by HEB Grocery. The center, Independence Plaza, ranks in the 98th percentile of all community shopping centers in the United States and receives the most foot traffic (3.4M TTM visits) within a 50-mile radius of the subject property.
- The subject property features direct visibility to McPherson Rd seeing over 26,400 VPD, a major north/south Laredo thoroughfare. Also, NE Bob Bollock Loop (I-69W) is just north of the subject property which sees over 51k VPD.
Photo Gallery
10219 McPherson RdLaredo, TX 78045
Independence Plaza (Less than .5 Miles from Subject Property)
Laredo Country Club (2.5 Miles from Subject Property)
Laredo International Airport (6.2 Miles from Subject Property)
Sales Team
Listing provided by Revere CRE