Absolute NNN Wendy’s | Signalized Intersection | 42 Unit Operator

925 25th St NW, Cleveland, TN 37311, USA
$2,150,000

Description

Marcus & Millichap is pleased to present for sale this Absolute NNN Wendy’s located at 925 25th Street NW, Cleveland, Tennessee. The subject property consists of a Free Standing 2,326 square foot restaurant with a drive-thru window and ample parking on a .59 Acre Parcel of land.
Strategically situated at the Hard Corner Signalized Intersection of 25th St NW and Peerless Rd NW, the property benefits from great visibility and daily traffic counts in excess of 28,800 vehicles per day. The Immediate trade area is home to more than 43,356 full time residents with an average household income exceeding $72,528 annually. Directly off Interstate 75, the Subject Property is also within proximity to the Mars Chocolate North America Factory (M&M, Twix, Milky Way) and the Life Care Centers of America HQ, which employs over 40,000 people. This Wendy’s is in the vicinity of National Retailers such as Big Lots, KFC, Papa Johns, Arby’s, Tractor Supply, Taco Bell, and many others.
This location is operated by Southeast Food Services Company LLC – 42 Unit Operating Company. Wendy’s has been operating this location for over 15 years and at the tenant’s expense, must undergo a full remodel of the restaurant by November 2025.
Wendy’s is an international fast-food restaurant chain founded by Dave Thomas on November 15, 1969, in Columbus, Ohio. As of January 2019, there were a total of over 6,711 locations, including 353 that are company-owned. 6,356 restaurants are franchised and 77 percent of them are located in North America. (In 2016, Wendy’s was the world’s third largest hamburger fast-food chain, following Burger King’s 12,000 plus locations and McDonald’s with 31,000 plus locations.).

  • Absolute NNN Lease with Zero Landlord Responsibility
  • Strong Wendy’s Operator | 42 Units
  • Located at the Corner of A Signalized Intersection | Exposure to More Than 28,800 Vehicles Per Day
  • Full Image Activation Remodel to Be Completed By 2025 | Commitment to Site
  • Attractive Rent Increases Every Five Years
  • Tennessee Is a No Income Tax State
  • Wendy’s Is Considered an Essential Tenant

Property Documents

  • City: Cleveland
  • State/county: Tennessee
  • Zip/Postal Code: 37311
  • Country: United States

Detail

  • Price: $2,150,000
  • Year Built: 1976

Additional details

  • CAP RATE: 5.00%
  • NOI: $107,500

Features