Wendy’s 20 Year NNN Lease | Upcoming Remodel

1618 S Roane St, Harriman, TN 37748, USA
$2,111,111

Description

Marcus & Millichap is pleased to present for sale this Wendy’s Restaurant with Drive Thru located at 1618 South Roane Street in Harriman, Tennessee. U.S. Route 27, known as Roane Street in Harriman, runs north-to-south through the city along the base of Walden Ridge. Harriman is a suburb of Knoxville and is locate a short 20 minute drive from downtown. The tenant, JAE Restaurant Group, will sign a 20 Year NNN Lease at closing with 7.5 percent increases every five years in rent. This established location will undergo a restaurant remodel by 2023.
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.

  • Wendy’s Restaurant with Drive Thru | Upcoming Remodel
  • 20 Year NNN Lease with 7.5% Increases Every 5 Years in Rent
  • Located 35 Minute Drive from Downtown Knoxville
  • Harriman is included in the Knoxville, Tennessee Metropolitan Statistical Area
  • Very Strong 220+ Unit Operator
  • Wendy’s is considered an Essential Tenant

Property Documents

  • City: Harriman
  • State/county: Tennessee
  • Zip/Postal Code: 37748
  • Country: United States

Detail

  • Price: $2,111,111
  • Year Built: 2021

Additional details

  • CAP RATE: 4.50%
  • NOI: $95,000

Features