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Restaurant

Wendy’s 20 year NNN Lease Knoxville MSA

934 Dolly Parton Pkwy, Sevierville, TN 37862

Listing Price: $2,666,666

Cap Rate
4.50%
Tenant Name
Wendys
Years Remaining On Lease
20.1
Gross SF
2,200
Guarantor
Corporate Guarantee
Rentable SF
2,200
Price/Gross SF
$1,212.12
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$54.55

Investment Overview

Marcus & Millichap is pleased to present for sale this Wendys 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 Wendys 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 Wendys 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 Wendys 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.
Wendys 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, Wendys was the worlds third largest
hamburger fast-food chain following Burger Kings 12,000 plus locations
and McDonalds 31,000 locations.

Investment Highlights

  • Minutes From LaConte Medical Center a $120 Million Hospital
  • Wendys is considered an Essential Tenant
  • Brand New 2021 Construction Wendys Restaurant with Drive Thru
  • 20 Year NNN Lease with 7.5% Increases Every 5 Years in Rent
  • Sevierville is a Short 30 Minute Drive from Knoxville and is Located in the Knoxville
  • Short Drive to Dollywood Amusement Park Which Plans a $500 Million Dollar Expansion

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Restaurant

Wendy’s 20 year NNN Lease Knoxville MSA

Listing Price: $2,666,666

Cap Rate
4.50%
Tenant Name
Wendys
Years Remaining On Lease
20.1
Gross SF
2,200
Guarantor
Corporate Guarantee
Rentable SF
2,200
Price/Gross SF
$1,212.12
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$54.55

Investment Highlights

  • Minutes From LaConte Medical Center a $120 Million Hospital
  • Wendys is considered an Essential Tenant
  • Brand New 2021 Construction Wendys Restaurant with Drive Thru
  • 20 Year NNN Lease with 7.5% Increases Every 5 Years in Rent
  • Sevierville is a Short 30 Minute Drive from Knoxville and is Located in the Knoxville
  • Short Drive to Dollywood Amusement Park Which Plans a $500 Million Dollar Expansion

Investment Overview

Marcus & Millichap is pleased to present for sale this Wendys 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 Wendys 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 Wendys 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 Wendys 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.
Wendys 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, Wendys was the worlds third largest
hamburger fast-food chain following Burger Kings 12,000 plus locations
and McDonalds 31,000 locations.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

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