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Restaurant

Wendy's

3201 Peoples St, Johnson City, TN 37604

Listing Price: $2,653,000

Cap Rate
4.90%
Tenant Name
Wendy's (Tri-Cities Restaurant Group, LLC)
Years Remaining On Lease
26.9
Gross SF
3,120
Guarantor
Franchisee Guarantee
Rentable SF
3,120
Price/Gross SF
$850.32
Lease Type
Absolute Net
Rent Per Square Feet
$41.67

Investment Overview

Combining the best of the world-class travel destination of Johnson City with the ever-growing, rapidly-expanding Wendy's Company, this Wendy's location is positioned for success. There are over 26 years remaining on the current lease term, and rental increases on multiple renewal option periods through 2070, with population and households projected to increase between two and five percent within five miles over the next five years.

Investment Highlights

  • Central Location in Johnson City MSA
  • Over 26 Years Remaining on Absolute Triple-Net (NNN) Lease
  • 7.5 Percent Rental Increases Every Five Years Throughout the Lease Term and in Option Periods
  • Located Along Peoples Street, Immediately Connected to N State of Franklin Road and I-26 / U.S. Rte 23 / James H Quillen Parkway (184,086 Combined Cars per Day)
  • 10 Minutes from East Tennessee State University (15,250 Students Annually)
  • 158,787 Residents Within 10-Mile Radius
  • Close Proximity to Major Retail Centers: Johnson City Crossing and The Mall at Johnson City
  • Highly Accessible Location Directly Off Interstate 26 / U.S. Route 23

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s) TN: 307629

    Tennessee

Financing By

Listing Price: $2,653,000

Cap Rate
4.90%
Tenant Name
Wendy's (Tri-Cities Restaurant Group, LLC)
Years Remaining On Lease
26.9
Gross SF
3,120
Guarantor
Franchisee Guarantee
Rentable SF
3,120
Price/Gross SF
$850.32
Lease Type
Absolute Net
Rent Per Square Feet
$41.67

Investment Highlights

  • Central Location in Johnson City MSA
  • Over 26 Years Remaining on Absolute Triple-Net (NNN) Lease
  • 7.5 Percent Rental Increases Every Five Years Throughout the Lease Term and in Option Periods
  • Located Along Peoples Street, Immediately Connected to N State of Franklin Road and I-26 / U.S. Rte 23 / James H Quillen Parkway (184,086 Combined Cars per Day)
  • 10 Minutes from East Tennessee State University (15,250 Students Annually)
  • 158,787 Residents Within 10-Mile Radius
  • Close Proximity to Major Retail Centers: Johnson City Crossing and The Mall at Johnson City
  • Highly Accessible Location Directly Off Interstate 26 / U.S. Route 23

Investment Overview

Combining the best of the world-class travel destination of Johnson City with the ever-growing, rapidly-expanding Wendy's Company, this Wendy's location is positioned for success. There are over 26 years remaining on the current lease term, and rental increases on multiple renewal option periods through 2070, with population and households projected to increase between two and five percent within five miles over the next five years.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s): TN: 307629

    Tennessee

Financing By

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