New Construction Wendy’s | 20 Year NNN Fee Simple Lease

6925 US-64, Oakland, TN 38060, USA
$2,767,354

Description

Marcus & Millichap is pleased to present for sale this Wendy’s located at 6925 US Highway 64 in Oakland (Memphis MSA), Tennessee. At closing, the tenant will sign a 20-Year Absolute NNN
Lease with 7.5 percent increases in rent every five years. This 2,657 Square Foot Wendy’s Restaurant was newly constructed in 2018 and is situated on a large 1.81-Acre parcel of land. This property is located minutes from Ring Container Technologies, a privately held, Multinational Corporation, headquartered in Oakland with more than 600 Employees and Revenue exceeding $300 Million Annually. Ring Container Technologies is the largest plastic container manufacturer in North America. Retailers in the immediate area include Wal Mart Supercenter, Dollar General, Walgreens, Murphy’s Express, AT & T and Dollar Tree. There are many Colleges within 20 minutes of this Wendy’s Including Tennessee College of Applied Technology with 902 Students; Southwest Tennessee Community College with 10,227 Students; and University Technological Institute with 9,006 Students.
Oakland is a town in Fayette County Tennessee with a population of 6,623. Population in Oakland has increased 417.8% since the year 2000 due to low city/county taxes, low crime rate and a Four Lane highway expansion of US Highway 64. Oakland, Tennessee is known as one of the safest cities in the state to live in.
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.)

  • Newer Construction Wendy’s with Drive Thru | Fee Simple Asset Allowing for Depreciation
  • Very Strong Sales | Established Location with Healthy Proposed Rent to Sales Ratio
  • 2,657 Square Foot Restaurant Situated on a Large 1.81 Acre Parcel of Land
  • Very Strong Guarantee – 150+ Unit Holding Company
  • 20-Year NNN Lease with 7.5% Increases Every 5 Years
  • Located Across the Street from a Wal Mart Supercenter and Minutes from Ring Container Technologies; the largest Plastic Container Manufacturer in North America
  • Oakland, Tennessee is experiencing a Population Boom due to Low taxes, Low Crime rate and Expansion of Busy U.S. Highway 64
  • Wendy’s is considered an Essential Tenant

Property Documents

  • City: Oakland
  • State/county: Tennessee
  • Zip/Postal Code: 38060
  • Country: United States

Detail

  • Price: $2,767,354
  • Year Built: 2018

Additional details

  • CAP RATE: 4.75%
  • NOI: $131,449

Features