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Restaurant

Wendy’s - New Construction - Sale Lease Back

1501 N Broad St, Tazewell, TN 37879

Listing Price: $2,941,176

Cap Rate
4.25%
Tenant Name
Wendy's
Years Remaining On Lease
20.1
Guarantor
Franchisee Guarantee
Rentable SF
2,500
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.00

Investment Overview

Marcus & Millichap is pleased to present for sale this Wendy’s Restaurant with drive thru located at 1501 N Broad Street in Tazewell, Tennessee. Tazewell is a town and the County Seat of Claiborne County, Tennessee with a population over 2,273 and located a short 47 minutes drive from Knoxville, Tennessee. This brand new 2022 construction Wendy’s is subject to a 20 year absolute NNN Lease with 7.5 percent increases in rent every five years. This Wendy’s property is located a short distance from Walters State Community College with over 5,742 enrolled students and a few minutes from New Tazewell Municipal Airport. Many apartment complexes surround this property including The Peaks of Tazewell Apartments with two stories and 56 rented apartment units, Cedar Ridge Apartments with 50 rented units. Also in close vicinity to the property are Rockwood Shopping Center, anchored by Fresh & Low Grocery (AWG) affiliate, Rite Aid, Family Dollar, Advance Auto Parts, The U.S. Post Office and many other national and regional retailers. Also nearby this Wendy’s is Claiborne County Hospital Rehabilitation Center with 100 Beds and The Claiborne Medical Center, which is an 85 Bed full-service hospital. 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 over 6,711 locations, including 353 that are company-owned. 6,356 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 31,000 plus locations.).

Investment Highlights

  • Brand New 2022 Construction Wendy's Restaurant with Drive Thru
  • 20 Year Absolute NNN Lease | 7.5% Rent Increases Every 5 Years
  • Hard Corner Signalized Intersection
  • Located in Tazewell, a short 45 Minutes From Knoxville, Tennessee
  • Located in Tazewell, a short 45 Minutes From Knoxville, Tennessee

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s) TN: 307629

    Tennessee

Financing By

Restaurant

Wendy’s - New Construction - Sale Lease Back

Listing Price: $2,941,176

Cap Rate
4.25%
Tenant Name
Wendy's
Years Remaining On Lease
20.1
Guarantor
Franchisee Guarantee
Rentable SF
2,500
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.00

Investment Highlights

  • Brand New 2022 Construction Wendy's Restaurant with Drive Thru
  • 20 Year Absolute NNN Lease | 7.5% Rent Increases Every 5 Years
  • Hard Corner Signalized Intersection
  • Located in Tazewell, a short 45 Minutes From Knoxville, Tennessee
  • Located in Tazewell, a short 45 Minutes From Knoxville, Tennessee

Investment Overview

Marcus & Millichap is pleased to present for sale this Wendy’s Restaurant with drive thru located at 1501 N Broad Street in Tazewell, Tennessee. Tazewell is a town and the County Seat of Claiborne County, Tennessee with a population over 2,273 and located a short 47 minutes drive from Knoxville, Tennessee. This brand new 2022 construction Wendy’s is subject to a 20 year absolute NNN Lease with 7.5 percent increases in rent every five years. This Wendy’s property is located a short distance from Walters State Community College with over 5,742 enrolled students and a few minutes from New Tazewell Municipal Airport. Many apartment complexes surround this property including The Peaks of Tazewell Apartments with two stories and 56 rented apartment units, Cedar Ridge Apartments with 50 rented units. Also in close vicinity to the property are Rockwood Shopping Center, anchored by Fresh & Low Grocery (AWG) affiliate, Rite Aid, Family Dollar, Advance Auto Parts, The U.S. Post Office and many other national and regional retailers. Also nearby this Wendy’s is Claiborne County Hospital Rehabilitation Center with 100 Beds and The Claiborne Medical Center, which is an 85 Bed full-service hospital. 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 over 6,711 locations, including 353 that are company-owned. 6,356 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 31,000 plus locations.).

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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