Wendy’s 20 Year NNN Lease | Established Location | Very Strong Sales

465 Church Rd W, Southaven, MS 38671, USA
$3,405,707

Description

Marcus & Millichap is pleased to present for sale this Wendy’s Fast Food restaurant located at 465 Church Road West in Southaven, Mississippi. At closing, the tenant will sign a 20-Year Absolute NNN Lease with 7.5 percent increases in rent every five years. This property is located minutes from Northwest Mississippi Community College with a Student Enrollment of 7,618 Students. This Wendy’s is located on the Church Road Exit of I-55 and out positions most competing restaurants on the corridor. Also in close vicinity is The Tanger Outlets, a 330,000 square foot and 70 Store Shopping Complex attracting thousands of visitors each year. Retailers in the immediate area include Harley Davidson, Shell and Tanger Outlets. This Wendy’s is also minutes away from multiple
Distribution Centers for National Companies including Fedex, Conair, Grainger, and O’Reilly Auto Parts, to name a few.
Southaven is a suburb of Memphis (approximately 15 miles south) and Mississippi’s third largest city. Southaven is located within DeSoto County, which ranks among the top 40 fastest growing counties in the U.S. and is the fastest growing county in Mississippi. Southaven is located on the border of Mississippi and Tennessee. With an average household income of approximately $75,000, DeSoto County residents represent a consumer base with significant disposable income. The city continues to grow at an impressive rate. Since 2000, Southaven’s population has grown from 31,741 residents to over 53,000 residents, marking a population increase of 70%. Many young families are drawn to Southaven, as it is the second ranked school district in Mississippi and the crime rates are lower than Tennessee. Given its proximity toMemphis, Southaven attracts Memphis shoppers who want to avoid  Tennessee’s 9.25 percent sales tax.
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.)

  • Excellent Location: The First Fast Food Restaurant on the Church Road Exit of I-55 (68,000 Vehicles Per Day)
  • New 2018 Construction Fast Food Restaurant with Drive Thru
  • Established Location with Very Strong Sales | More than 37% Above National Average | Speak to Listing Agents for Details
  • Down the Street from Northwest Mississippi Community College with a Student Enrollment of 7,618 Students
  • Located minutes from multiple Distribution Centers for National Companies including Fedex, Conair, Grainger, and O’Reilly Auto Parts, to name a few
  • Located Nearby Baptist Memorial Hospital with 329 Beds and 15,685 patients each year
  • Minutes from Memphis International Airport (3,900 Acres; 335 Employees) and Home to Fed Ex Global Hub, with city of Memphis averaging 11.8 Million Visitors each year

Property Documents

  • City: Southaven
  • State/county: Mississippi
  • Zip/Postal Code: 38671
  • Country: United States

Detail

  • Price: $3,405,707
  • Year Built: 2018

Additional details

  • CAP RATE: 5.00%
  • NOI: $170,285

Features