Wendy's | ±17.5-Yr NNN GL | 59-Unit Guaranty | 2021… — Sale in Tulsa, OK

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Tulsa, OK 74135

Photos

Wendy's | ±17.5-Yr NNN GL | 59-Unit Guaranty | 2021… — Sale in Tulsa, OK, photo 1 of 3
Wendy's | ±17.5-Yr NNN GL | 59-Unit Guaranty | 2021… — Sale in Tulsa, OK, photo 2 of 3
Wendy's | ±17.5-Yr NNN GL | 59-Unit Guaranty | 2021… — Sale in Tulsa, OK, photo 3 of 3

Investment Figures

Cap rate
5.75%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Wendy's drive-thru located at 3341 East 31st Street in Tulsa, Oklahoma, within the established Midtown Tulsa trade area. The ±1,541-square-foot restaurant, built in 2021, sits on ±0.63 acres and is secured by a 20-year NNN ground lease that commenced March 2024, with ±17.5 years remaining, zero landlord responsibilities, and four (4) five-year renewal options. Annual base rent of $120,000 is offered at a 5.75% cap rate, with scheduled 10% rent increases every five years. The restaurant is operated by Cotti Foods, a 228-unit operator of Wendy's, Taco Bell, and 7 Brew locations across six states, and the lease is guaranteed by Cotti Foods Midwest, a 59-unit entity. The property fronts East 31st Street (±8,638 VPD) near South Harvard Avenue (±19,727 VPD), with convenient access to Interstate 44 (±92,778 VPD) and U.S. Route 64 (±74,978 VPD). The 3-mile radius holds 93,287 residents with an average household income of $124,992, and the trade area includes the University of Tulsa (4,000+ students), Tulsa Community College Northeast (2,000+ students), and OSU Medical Center (235 licensed beds). Tulsa is the second-largest MSA in Oklahoma with 1.07 million residents. Wendy's operates 7,000+ restaurants worldwide (NASDAQ: WEN), pairing a recognized brand with passive, long-term ground lease income. Investment Highlights: • ±17.5 Years Remaining on 20-Year NNN Ground Lease | Zero Landlord Responsibilities • Scheduled 10% Rent Increases Every 5 Years | Four 5-Year Renewal Options • Guaranteed by Cotti Foods Midwest (59 Units) • Operated by Cotti Foods, a 228-Unit Wendy's, Taco Bell, and 7 Brew Operator • 2021 Construction | ±1,541 SF on ±0.63 AC • Along East 31st Street (±8,638 VPD) Near South Harvard Avenue (±19,727 VPD) • Quick Access to I-44 (±92,778 VPD) and US-64 (±74,978 VPD) • Near University of Tulsa (4,000+ Students) and OSU Medical Center (235 Beds)

Market Context

This food service in Tulsa, OK is listed for sale. It is offered at an approximate 5.8% capitalization rate, a key benchmark for income-producing food service assets. Compare it against other food service listings for sale in Tulsa, OK — view the full market.

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