The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Wendy’s property located at 308 West Brandon Boulevard in Brandon, Florida for $1,500,000. The 3,574 square-foot Wendy’s restaurant sits on 0.71 acres and is corporately operated by Wendy’s within the Tampa-St. Petersburg-Clearwater MSA.<\/p>\n
The Wendy’s property at 308 West Brandon Boulevard is positioned along West Brandon Boulevard, also designated as State Road 60, at its intersection with North Moon Avenue in Brandon, Florida. West Brandon Boulevard carries approximately 74,000 vehicles per day, making it one of the highest-traffic corridors in Hillsborough County. HCA Florida Brandon Hospital, a 479-bed regional medical center, is located less than one mile south of the property. Brandon High School, serving approximately 1,600 students, is situated immediately northwest of the site. The property is surrounded by a dense retail corridor anchored by Publix, Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, ALDI, Walgreens, McDonald’s, 7-Eleven, AutoZone, CVS, Dollar General, Office Depot, Circle K, Dollar Tree, Burlington, PetSmart, and Ace Hardware. The average household income within three miles of the Wendy’s in Brandon, Florida is approximately $108,570. The population within three miles exceeds 102,000 residents, and more than 229,000 residents live within a five-mile radius. Brandon is an unincorporated community in Hillsborough County located approximately 11 miles east of downtown Tampa. The Tampa-St. Petersburg-Clearwater MSA ranks as the 17th-largest metropolitan area in the United States with a population exceeding 3.3 million. Major transportation infrastructure including Interstate 75, Interstate 4, and Tampa International Airport provides regional connectivity. Brandon, Florida had a 2020 census population of 114,626 and has experienced steady annual growth.<\/p>\n
Randy Blankstein, Jimmy Goodman and John Feeney of The Boulder Group represented both parties in the transaction. The seller was a family partnership based in the Southeast. The buyer was a Texas-based investment group.<\/p>\n
The Wendy’s lease at 308 West Brandon Boulevard in Brandon, Florida is structured as an absolute triple-net lease with zero landlord responsibilities. Wendy’s has operated continuously from this location for more than 37 years and completely rebuilt the property in 2017 to the current prototype design. Three 5-year renewal options remain on the lease. Each renewal option features a 10% rental escalation. The absolute NNN structure requires the tenant to be responsible for all property taxes, insurance, and maintenance costs. Florida is an income-tax-free state, providing additional benefit to the property owner.<\/p>\n
The Wendy’s Company is headquartered in Dublin, Ohio and was founded in 1969 in Columbus, Ohio. Wendy’s operates and franchises more than 7,000 restaurant locations worldwide, with the majority located across the United States and Canada. The company has grown into the third-largest hamburger restaurant chain in the United States. Wendy’s is widely recognized for its made-to-order menu offerings, including its signature square hamburgers, the Frosty dessert, and the Baconator.<\/p>\n
\u201cNet leased quick-service restaurant properties with absolute NNN lease structures in income-tax-free states like Florida continue to attract strong demand from private investors seeking passive income,\u201d said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, \u201cThe Wendy\u2019s in Brandon, Florida was compelling to buyers due to the tenant\u2019s more than 37 years of continuous operation at this site, the 2017 complete rebuild to the current prototype, and the property\u2019s prominent position along a corridor carrying 74,000 vehicles per day.\u201d John Feeney, Senior Vice President of The Boulder Group, noted, \u201cThe buyer was attracted to the absolute triple-net lease structure with zero landlord responsibilities, the benefit of no state income tax in Florida, and the opportunity to acquire a corporately operated Wendy\u2019s within the Tampa MSA at an attractive basis below replacement cost.\u201d<\/p>\n