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Wendy's 1646 S Highland Ave 2,284 SF Retail Building Jackson, TN 38301 $2,116,285 ($926.57/SF) 5.60% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term NNN Lease 13 Years Remaining with Six, 5-Year Options
- 1.25% Annual Rent Increases or Change in CPI (Lessor)
- Backed By Meritage Hospitality Group, one of the largest Wendy's Franchisees with over 375 Restaurants
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to offer the opportunity to acquire a Wendy’s property consisting of 2,284 square feet on nearly one acre of land. The asset is secured by a long-term lease with 13 years remaining on the initial term. attractive 1.25% annual increases and six additional five-year renewal options. This is an absolute triple net lease with zero landlord responsibilities.
Fronting the Main Commercial Corridor S. Highland Avenue which sees over 35,000 Vehicles Per Day.
Fronting the Main Commercial Corridor S. Highland Avenue which sees over 35,000 Vehicles Per Day.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
2,284 SF
Building Class
B
Year Built
1979
Price
$2,116,285
Price Per SF
$926.57
Cap Rate
5.60%
NOI
$118,512
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.80 AC
Zoning
B5
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 109B-A-002.01 | Improvements Assessment | $104,760 |
| Land Assessment | $101,200 | Total Assessment | $205,960 |
PROPERTY TAXES
Parcel Number
109B-A-002.01
Land Assessment
$101,200
Improvements Assessment
$104,760
Total Assessment
$205,960
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Wendy's | 1646 S Highland Ave
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