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Wendy's 6781 E Shelby Dr 2,646 SF Retail Building Memphis, TN 38141 $2,172,276 ($820.97/SF) 6.15% Cap Rate
Investment Highlights
- Long-Term Absolute NNN Lease
- Established National QSR Brand
- Recently Remodeled Building with Drive-Thru
- Nationally-Recognized Franchisee with 375+ Locations
- Strong Memphis Retail Corridor
Executive Summary
Long Term Absolute NNN Lease
- Absolute NNN structure with no landlord responsibilities
- Approximately 13 years of remaining lease term
- Six, five-year renewal options
- Annual rent increases tied to the lesser of CPI or 1.25%
Nationally-Recognized Franchisee with 375+ Locations
- Meritage Hospitality Group operates over 375 restaurants nationwide including Wendy’s and Morning Belle
- Meritage Hospitality Group (OTCQX: MHGU) reported YE 2025 revenues exceeding $617M and boasts a net worth of approximately $88M
Established National QSR Brand
- Wendy's is one of the largest quick-service restaurant brands in the world
- More than 7,000 locations globally
- Long operating history and strong consumer brand recognition
Strong Memphis Retail Corridor
- Positioned on E. Shelby Drive (32,911 VPD) within a dense retail and residential trade area
- Population exceeds 161,000 residents within a 5-mile radius
- Strong Demographics with $85K+ Avg HHI (1-Mi Radius)
Recently Remodeled Building with Drive-Thru
- The building was completely renovated in 2018, demonstrating a long-term investment and commitment to the location
- Quick-service restaurant investments continue to be a top investment target for passive, single tenant property investors
- Predictable annual rent escalations offer investors a hedge against inflation
- Absolute NNN structure with no landlord responsibilities
- Approximately 13 years of remaining lease term
- Six, five-year renewal options
- Annual rent increases tied to the lesser of CPI or 1.25%
Nationally-Recognized Franchisee with 375+ Locations
- Meritage Hospitality Group operates over 375 restaurants nationwide including Wendy’s and Morning Belle
- Meritage Hospitality Group (OTCQX: MHGU) reported YE 2025 revenues exceeding $617M and boasts a net worth of approximately $88M
Established National QSR Brand
- Wendy's is one of the largest quick-service restaurant brands in the world
- More than 7,000 locations globally
- Long operating history and strong consumer brand recognition
Strong Memphis Retail Corridor
- Positioned on E. Shelby Drive (32,911 VPD) within a dense retail and residential trade area
- Population exceeds 161,000 residents within a 5-mile radius
- Strong Demographics with $85K+ Avg HHI (1-Mi Radius)
Recently Remodeled Building with Drive-Thru
- The building was completely renovated in 2018, demonstrating a long-term investment and commitment to the location
- Quick-service restaurant investments continue to be a top investment target for passive, single tenant property investors
- Predictable annual rent escalations offer investors a hedge against inflation
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,646 SF
Building Class
B
Year Built/Renovated
1992/2018
Price
$2,172,276
Price Per SF
$820.97
Cap Rate
6.15%
NOI
$133,595
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.95 AC
Zoning
CL
Parking
30 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
109’ on Shelby Dr
Amenities
- Bus Line
- Pylon Sign
- Signage
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- -
- -
- Triple Net
- Sep 2039
Founded in 1969 by Dave Thomas in Columbus, Ohio, Wendy's began as a single hamburger restaurant and grew into a franchise-based quick-service chain. The company serves a menu centered on square hamburgers made with fresh beef, along with chicken sandwiches, salads, chili, baked potatoes, breakfast items, and the Frosty dessert. Wendy's operates through company-owned and franchised restaurants and uses a system that extends across a broad international footprint. The business remains focused on restaurant operations, menu development, and franchising as part of The Wendy's Company.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | - | - | Triple Net | Sep 2039 |
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 09-3723-M0-0009 | Improvements Assessment | $662,840 |
| Land Assessment | $74,560 | Total Assessment | $737,400 |
Property Taxes
Parcel Number
09-3723-M0-0009
Land Assessment
$74,560
Improvements Assessment
$662,840
Total Assessment
$737,400
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