Brand New Wendy’s – 20 Year NNN Lease

7535 Mountain Grove Dr, Knoxville, TN 37920, USA
$2,181,818

Description

Marcus & Millichap is pleased to present for sale this Brand New construction Wendy’s in Knoxville, Tennessee.
The subject property consists of 2,388 square foot restaurant with a drive up window and ample parking on a large 1.2 Acre Parcel of land. The brand new 20 Year lease has 7.5 percent rent increases every five years including the four (Five Year) options periods. The lease is backed by a 35 Unit Holding Company with stores in Tennessee. The operator, JAE Restaurant Group, operates more than 210 restaurants in Florida, Texas and Tennessee.
This Wendy’s is ideally positioned in front of a Lowe’s Home Improvement center and is surrounded by numerous national retailers including McDonald’s, Chick Fil A, Sonic, CVS, Good City, WalMart, Home Depot and Ruby Tuesday.
Wendy’s is an international fast food restaurant chain founded by Dave Thomas on November 15, 1969 in Columbus, Ohio, United States. As of January 2019, there were a total of 6,711 locations,
including 353 that are company-owned. 6,358 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 over 31,000 plus locations.)

  • Brand New Construction 20 Year Absolute NNN Lease “No Landlord Responsibility”
  • 2020 Construction – Expected Opening 1st Quarter 2020
  • Strong 35 Unit Backing from a 210+ Unit Wendy’s Operator (5th Largest in the USA)
  • Ideally positioned in front of a Lowe’s Home Improvement Center with Traffic Counts Exceeding 29,000 Vehicles Per Day
  • Surrounded by numerous national retailers including Sonic, McDonald’s, Chick Fil A, CVS, The Home Depot, WalMart and IHOP

Property Documents

  • City: Knoxville
  • State/county: Tennessee
  • Zip/Postal Code: 37920
  • Country: United States

Detail

  • Price: $2,181,818
  • Year Built: 2019

Additional details

  • NOI: $120,000
  • CAP RATE: 5.50%

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