Brand New 2021 Construction Wendy’s | 20 Year NNN Lease

934 Dolly Parton Pkwy, Sevierville, TN 37862, USA
$2,666,666

Description

Marcus & Millichap is pleased to present for sale this Wendy’s Restaurant with Drive Thru located at 934 Dolly Parton Parkway in Sevierville, Tennessee. Sevierville is a short 30 minute drive from Knoxville and is located in the Knoxville Metro Area. Sevierville is a city in East Tennessee with The Great Smoky Mountains National Park to the South with its beautiful forest trails and water parks. It is well known as the hometown to singer Dolly Parton. As a town situated along the Dolly Parton Parkway, Sevierville has reaped the benefits of the burgeoning tourism industry brought about by the development of the Great Smoky Mountains National Park.
This Wendy’s Restaurant is located at the hard corner signalized intersection of Dolly Parton Parkway and Veterans Blvd with Traffic Counts Exceeding 60,721 Vehicles per day. Only three minutes away from this Wendy’s is LeConte Medical Center, a $120 Million Dollar hospital with advanced medical services and technologies and 79 Beds, 140 Physicians and 500 employees.
The Tennessee Museum of Aviation located on the Gatlinburg-Pigeon Forge Airport is only two minutes from this Wendy’s property and see thousands of tourists each year visiting the site. Only minutes from the property is The Great Smoky Mountains National Park, the most visited National Park in the United States with over 10 million visitors each year. Also in close vicinity to the property is the World-famous Dollywood Amusement Park which sees thousands of visitors each year. In 2021, Dollywood just announced plans for a $500 Million dollar expansion to the park.
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 6,828 locations, including 361 that are company owned. 6,467 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 31,000 locations.

    • Brand New 2021 Construction Wendy’s Restaurant with Drive Thru
  • 20 Year NNN Lease with 7.5% Increases Every 5 Years in Rent
  • Located at the Hard Corner Signalized Intersection of Dolly Parton Parkway and Veterans Blvd with Traffic Counts Exceeding 60,721 Vehicles Per Day
  • Minutes From LaConte Medical Center a $120 Million Hospital with 140 Physicians and 500 Employees
  • Short Drive to Dollywood Amusement Park Which Plans a $500 Million Dollar Expansion to the Park in 2021 Including a 302 Room Hotel
  • Sevierville is a Short 30 Minute Drive from Knoxville and is Located in the Knoxville Metro Area
  • Wendy’s is considered an Essential Tenant

Property Documents

  • City: Sevierville
  • State/county: Tennessee
  • Zip/Postal Code: 37862
  • Country: United States

Detail

  • Price: $2,666,666
  • Year Built: 2021

Additional details

  • CAP RATE: 4.50%
  • NOI: $120,000

Features