1444 S State St
Orem, UT 84097
Cherry Hill
HIGHLIGHTS
- The site operates under a ground lease lease structure, making it a fully passive investment. There is strong potential for upside either through leas
- There are four remaining option periods. The first option includes a two-year term with a 10% rent increase, while the subsequent three options each
- Land value value in the area trades at around $60.00 PSF. Currently, Wendy’s is paying $22.92 PSF of GLA with market rent hovering around $60.00 PSF f
- The adjacent northern property recently sold for $2.2 million, equating to $58.64 per square foot of land.
- Corporate Guaranty with Long Store History
- The lease features a corporate guarantee from Wendy’s Old Fashioned Hamburgers of New York, LLC. They assumed responsibility of the lease in 2007
FOR SALE DETAILS
PRICE
$1,500,000 USD
PRICE/SF
$568 USD /SF
CAP RATE
4.03%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
WENDY'S
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Fast Food
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1992
SPRINKLERS
-
PARKING SPACES
20
LAND DETAILS
LAND ACRES
0.57 AC
LAND SF
24,829 SF
ZONING
-
APN/PARCEL ID
19-017-0065
ASK ABOUT THIS PROPERTY
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720-800-9764
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Please correct the highlighted field(s).
720-800-9764
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