4186 Buffalo RdErie, PA 16510

Property Details for 4186 Buffalo Rd

Lot size

0.97 AC

Property size (Sq ft)

2,214 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a fee-simple ownership of a Wendy's restaurant in Erie, Pennsylvania. The property boasts a 2,214 square foot building situated on a 0.97-acre lot, operating under an absolute triple-net (NNN) lease with a corporate guarantee from The Wendy's Company (NASDAQ: WEN). The lease, commencing March 21, 2016, and expiring March 31, 2036, has a remaining term of approximately 11.4 years, with four 5-year renewal options. The current annual net operating income (NOI) is $111,167, representing a 5.25% cap rate and a price per square foot of $956.40. Rent increases are structured with a 10% bump every five years. Located at 4186 Buffalo Rd, Erie, PA 16510, this B-Class property benefits from its position in a high-traffic retail corridor, with significant daily vehicle counts and proximity to major employers like GE Transportation. The property's strong location, long-term lease, and corporate guarantee make it an attractive investment with a relatively low basis for a corporately guaranteed net lease asset. The zoning is B1. The property has been a Wendy's location for over 30 years, demonstrating its enduring success in this market. This single-tenant, single-story building offers a passive investment opportunity with significant upside potential.

Location Insight

City

Erie

County

Erie

State

Pennsylvania

Latitude

42.1448

Longitude

-80.0063

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