Wendy’s 20 Year NNN Lease | 2021 Construction

5011 Millertown Pike, Knoxville, TN 37917, USA
$2,783,505

Description

Marcus & Millichap is pleased to present for sale this Wendy’s Fast Food Restaurant with drive thru located at 5011 Millertown Pike in Knoxville, Tennessee. Knoxville is the principal city of the Knoxville Metropolitan Statistical Area with a population over 869,046 and the third largest city in the state after Nashville and Memphis.
This brand new construction Wendy’s is situated as an outparcel to a Lowe’s Home Improvement Center on the Millertown Pike Exit Road from I-25. Several shopping centers surround this Wendy’s including Black Oak Plaza Shopping Center, Magnolia Shopping Center, International Shopping Alliance, Kingston Pike Shopping Center, Clinton Plaza and Wright Place. Major National Retailers in the immediate area include Walmart Super Center, Home Depot and Sam’s Club.
This Wendy’s Restaurant is conveniently located only 12 minutes from Pellissippi State Community College with 11,259 enrolled students, 15 minutes from The College of Arts & Sciences with 23,290 enrolled students and 15 minutes from South College with 1,241 enrolled students. Also in close vicinity to this property is Magnolia Gardens Apartments with 268 fully rented apartments.
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 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 Wendy’s 20-Year NNN Lease with 7.5% Increases In Rent Every 5 Years
  • Located on The South Bound Exit From Highway 25 (58,495 VPD Traffic) to Millertown Pike Road (22,000 VPD Traffic)
  • Situated As a Lowe’s Home Improvement Outparcel
  • Located Minutes from Pellissippi State College (11,259 Students), College of Arts and Sciences (23,290 Students), and South College (1,241 Students)
  • Close Proximity to North Knoxville Medical Center and East Tennessee Children’s Hospital
  • National Retailers iIn the Immediate Area Include Lowe’s, Walmart Super Center, Home Depot, Sam’s Club
  • Wendy’s is Considered an Essential Tenant

Property Documents

  • Wendys-Millertown-Knoxville-TN-om-ib
  • City: Knoxville
  • State/county: Florida
  • Zip/Postal Code: 37917
  • Country: United States

Detail

  • Price: $2,783,505
  • Year Built: 2021

Additional details

  • CAP RATE: 4.85%
  • NOI: $135,000

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