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Wendy's 749 S Highland St 2,711 SF Retail Building Memphis, TN 38111 $2,515,105 ($927.74/SF) 5.50% Cap Rate
Investment Highlights
- Long Term Absolute Triple-Net (NNN) Lease
- Nationally Recognized Brand
- Experienced Franchisee
- Strong Demographics
Executive Summary
Surmount is pleased to present the Offering Memorandum for a Wendy's located at 749 S Highland St, Memphis, TN 38111. The site consists of roughly 2,711 rentable square feet of building space on an estimated 0.65-acre parcel of land. This Wendy's is subject to a 20-year Triple Net (NNN) lease, which commenced 5/6/2021. The current annual rent is $138,331 and has scheduled increases of lesser of change in cpi or 1.25% annually.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,711 SF
Building Class
B
Year Built/Renovated
1979/2020
Price
$2,515,105
Price Per SF
$927.74
Cap Rate
5.50%
NOI
$138,331
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.65 AC
Opportunity Zone
Yes
Zoning
CMU-1
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
- Drive Thru
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 04-5115-0-0003C | Improvements Assessment | $173,440 |
| Land Assessment | $68,320 | Total Assessment | $241,760 |
Property Taxes
Parcel Number
04-5115-0-0003C
Land Assessment
$68,320
Improvements Assessment
$173,440
Total Assessment
$241,760
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Wendy's | 749 S Highland St
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