Wendy's - Geneseo, NY

4158 Lakeville Road
Geneseo, NY 14454

Marketing Materials

Overview

JLL is pleased to offer for sale the fee-simple interest in a freestanding, single-tenant Wendy’s (the “Property”, or “Asset”) located in the town of Geneseo within the Rochester, New York MSA. Situated at the signalized intersection of U.S. Route 20A (Lakeville Road) and Reservoir Road, the Wendy’s benefits from outstanding visibility and multiple ingress/egress points for anyone traveling to the undoubted primary retail corridor of Geneseo. With national retailers such as Walmart Supercenter, Wegmans, Tractor Supply, Peebles, Aldi and many more along the corridor, the Wendy’s sees strong traffic from those living in the city and students at State University of New York at Geneseo, which is just 1 mile west with an enrollment of 5,400 students. Additionally, Wendy’s struck a new lease which commenced March 2016, leaving 17.7 years remaining on an absolute triple net lease, further securing the longevity of the investment. This offering presents an outstanding opportunity to acquire a completely passive investment with consistent rent growth over a long primary lease term, guaranteed by the second largest hamburger QSR in the world.
  • Primary Broker

    Peter Furest - Net Lease Broker
    Peter Furest
    (212) 812-5802

  • Secondary Broker(s)

    Tim Hall - Net Lease Broker
    Tim Hall
    (202) 719-5737

  • In-State Licensee

    Peter Furest - Net Lease Broker
    Peter Furest
    NY

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Investment Highlights
• The Property is subject to an absolute triple net lease featuring zero landlord responsibilities, 17.7 years of contractual term remaining, ten percent increases every five years, and a corporate guarantee.
• Positioned within the primary retail corridor of Geneseo, the Property benefits from traffic generated by consumers visiting a Walmart Supercenter, Wegmans, Aldi, Advance Auto Parts, and many more.
• State University of New York at Geneseo is just one mile west of the Property and has an enrollment of 5,400 students.
• Within the Rochester MSA (third largest city in New York), Geneseo is a 40 minute drive from downtown, an hour and 15 minutes from Buffalo (second largest city in New York), and just west of the Finger Lakes – a popular summer destination for many northeastern US residents.
• The Wendy’s is operated by one of the largest Wendy’s franchisees in the U.S. with over 245 locations under management.
General
Property Type Retail
Property Address 4158 Lakeville Road
Geneseo, NY 14454
Market NY-Rochester
Land In Acres 1.03
Building Size 2,816 Square Feet
Primary Use Fast Food
Tenancy Single-Tenant
Financial
Price $2,011,440
Price PSF $714.29
Cap Rate 5.00%
Current NOI $100,572
Lease
Tenant Name Wendy's Properties, LLC
Guarantor Wendy's Corporate
Lease Type NNN
Annual Rent $100,572
Rent Escalations 10% every 5 years
Options 2, 5-year options
Lease Start Date 3/21/2016
Lease Expiration Date 3/20/2036
Remaining Term 17.5Yrs