For Sale
$3,033,000

1308 Fairbanks AveWinter Park, FL 32789

Trophy Wendy's, strong corporate guarantee, high growth area.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of a 2,414 square foot Wendy's restaurant located at 1308 W Fairbanks Ave, Winter Park, FL 32789. The property sits on a 0.78-acre lot and boasts a prime location on a heavily trafficked road (34,000 vehicles per day), just 10 minutes from downtown Orlando. Built in 2020, this Class A retail property is under an absolute NNN ground lease with Wendy's Properties, LLC, providing a corporate guarantee. The lease commenced July 31, 2020, and has a remaining term of approximately 10.7 years, expiring July 30, 2035. The lease includes 10% rent bumps every five years and five, five-year renewal options. The current annual net operating income (NOI) is $135,000, resulting in a 4.45% cap rate and a price per square foot of $1,256.42. The asking price is $3,033,000. This property is ideal for a 1031 exchange due to its long-term lease, built-in rent increases, and strong tenant. The Winter Park area is experiencing significant population growth, projected to exceed six percent within a one-mile radius between 2022 and 2027, further enhancing the investment potential. The surrounding area has a dense population (over 276,000 within a 5-mile radius) with high average household incomes exceeding $87,000 annually. This is a rare opportunity to acquire a trophy asset with a strong tenant and significant upside potential.

Highlights

  • NNN ground lease Wendy's on high-traffic Fairbanks Avenue (34,000 VPD) in Winter Park, FL, near Downtown Orlando.
  • Prime Orlando location, five miles from Downtown, in a high-growth area adding over 1,500 people weekly.
  • Nearly 12-year lease remaining with 10% rent increases every five years, ideal for 1031 exchange.
  • Corporate guarantee from Wendy's Properties, LLC.
  • Strong population growth projected at over 6% within a one-mile radius (2022-2027).
  • Dense, affluent demographics: over 276,000 people within a 5-mile radius, $87,000+ average household income.

Property Details for 1308 Fairbanks Ave

Property type
Retail properties
Square Feet
2,414 SF
Class
A
Year Built
2020
Lot Size (sq. ft)
33,977 SF
Units
1

Location Insight

City
Winter Park
County
Orange
State
Florida
Latitude
28.59306135
Longitude
-81.36715794
1308 Fairbanks Ave, Winter Park, Florida

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1308 Fairbanks Ave
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