Wendy’s 20 Year NNN Lease | Knoxville, TN Suburb

1771 W Broadway Ave, Maryville, TN 37801, USA
$2,812,500

Description

Marcus & Millichap is pleased to present for sale this Wendy’s Restaurant with drive thru located at 1771 West Broadway Avenue in Maryville, Tennessee. Maryville is a city in the county seat of Blount County, Tennessee and a suburb of Knoxville with a population of 27,465 and part of the Knoxville Metropolitan Area. Maryville is a bustling city a short distance from Great Smoky Mountains National Park (12.5 Million Visitors Annually), Dollywood Amusement Park (Three Million Guests each year) and the biggest tourist attraction in Tennessee, Gatlinburg (11.3 Million Tourists), and Pigeon Forge (Nine Million Tourists each year). Maryville was named to A & E’s List of Top 10 Cities to Have It All because of Parks, Green Spaces and Maryville College. Maryville provides easy access to Downtown Knoxville via US-129 & US-321. Residents of Maryville have a quick commute to Major Employers including Denso Manufacturing, Blount Memorial Hospital and ALCOA.
Several apartment complexes surround this property including Laurel Branch Apartments with 92 Units, Garden Vale Apartments with 75 Units, Oak Tree Apartments with 72 Units, and the brand- new Cottages Cades Cove Complex which is quickly selling out. Only a few minutes from this Wendy’s is Montgomery Ridge Intermediate School with 806 Students, and Maryville Jr. High School with 826 Enrolled Students.
There are several popular shopping centers in the vicinity of this property including Cornerstone Square Shopping Center only three minutes away (Direct Auto Insurance, National Fitness Center, Pretty Nails, and Froyoz.) Only eight minutes away is New Midland Plaza (Acceptance Insurance, Adkins Corp., Advance America, Angel Nails, Boost Mobile, Burkes Outlet, Brown Chiropractic, Cash America Pawn, City Electric, Easy Own Home Furnishings, H & R Block and Jackson Hewitt Tax).
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 companyowned. 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 Busy West Broadway Avenue with Traffic Counts Exceeding 38,000 Vehicles Per Day
  • Maryville is a Bustling Suburb of Knoxville and Only a Short 20 Minute Drive from Downtown
  • Located 8 Minutes from Maryville College with 1,103 Students and the 12th Oldest College in the South
  • Located a Short 9 Minute Drive from Blount Memorial Hospital with 279 Beds and 11,177 Patients Each Year
  • Wendy’s is Considered an Essential Tenant

Property Documents

  • City: Maryville
  • State/county: Tennessee
  • Zip/Postal Code: 37801
  • Country: United States

Detail

  • Price: $2,812,500
  • Year Built: 2021

Additional details

  • CAP RATE: 4.80%
  • NOI: $135,000

Features