Wendy’s in Fort Myers Sold for $2.18M

Fort Myers, Florida, June 28th, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Wendy’s, a 3,068-square-foot property located at 3783 Cleveland Avenue, Fort Myers, Florida, according to Tim Stephenson, regional manager of the firm’s Philadelphia office. The asset sold for $2,181,274. 

Mark Krantz, an investment specialist in Marcus & Millichap’s Philadelphia office, represented the buyer, a family participating in a 1031 exchange. "This sale exemplifies the consistent success of our team in helping clients transition to better assets for them through 1031 exchanges," said Krantz. "In this case, we sold a dark drugstore property and facilitated the acquisition of a secure net-leased asset in Southwest Florida." 

The Wendy’s property boasts strong real estate fundamentals in a vibrant and densely populated submarket. With over 168,000 residents and an average household income of $86,000 within a five-mile radius, the location is highly desirable. The lease features over 20 years remaining with annual increases, providing a long-term hedge against inflation. 

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About Marcus & Millichap, Inc. (NYSE: MMI)  

 

Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.