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415 Broad St 2,431 SF Retail Building Elizabethton, TN 37643 $2,356,000 ($969.15/SF) 6% Cap Rate
Investment Highlights
- Ranks in the 86th percentile of all Wendy's locations nationwide
- ~15 years remaining lease term through August 2041 with 8% rent increases every 5 years
- Comprehensive renovation completed in 2018 with limited near-term capital requirements
- 25,220 VPD on primary retail corridor near Walmart, Lowe's, and Chick-fil-A
- Absolute NNN lease with no landlord responsibilities, guaranteed by M&J Restaurants, Inc.
- Located near ETSU's 14,000 students and Cherokee National Forest's 2M+ annual visitors
Executive Summary
Broker Of Record
Hutt Cooke
Matthews Real Estate Investment Services, Inc
356505, 263667 (TN)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Hutt Cooke
Matthews Real Estate Investment Services, Inc
356505, 263667 (TN)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
2,431 SF
Building Class
B
Year Built/Renovated
1991/2018
Price
$2,356,000
Price Per SF
$969.15
Cap Rate
6%
NOI
$141,368
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.79 AC
Frontage
125’ on Broad St
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Wendy's began in 1969 when Dave Thomas opened the first Wendy's Old Fashioned Hamburgers restaurant in Columbus, Ohio. The company operates a quick-service restaurant system built around company-operated and franchised locations, with a presence across the United States and international markets. Wendy's menu centers on made-to-order square hamburgers with fresh beef, along with chicken sandwiches and nuggets, Baconator items, Frosty desserts, and other core menu offerings. The company pursues ongoing menu development and expansion across the global restaurant system, reflecting a business focused on burgers, chicken, desserts, and franchise operations.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 041B-F-012.00 | Improvements Assessment | $135,960 |
| Land Assessment | $144,120 | Total Assessment | $280,080 |
Property Taxes
Parcel Number
041B-F-012.00
Land Assessment
$144,120
Improvements Assessment
$135,960
Total Assessment
$280,080
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