Wendy's on John B. Dennis Hwy

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30268607
Property Subtypes: Restaurant
Status: Pending
Building Size (RSF): 2,887 SF
Gross Building Area: See Agent
Gross Land Area: 1 Acre
Sale Price: $950,000
Unit Price: $329.06 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 6.3%
Last Updated: 6/18/2019

Overview / Comments

JUST REDUCED! Great Investment Opportunity! Busy Wendy's location! This property is situated at the gateway to Kingsport and Eastman Chemical Company at I-26, Exit 4. A free standing 2,887 sq ft restaurant on 1 acre. Wendy's just renewed new 5-year lease March 2019 with one 5-year option remaining. It is a 6.3% CAP. Tenant will execute a new 20-year lease including rent increases with new owner remodeling investment.

Nice hospitality location with Hampton Inn, Quality Inn and Comfort Suites in immediate vicinity. Great traffic counts and super visibility fronting John B Dennis Hwy next to Hardees. Nearby retailers include Dollar General, Price Less Foods, Burger King, and McDonald's. Lease details and financials available to serious inquiries only. Contact listing agent for further details.

Additional Details

Nearest MSA: Kingsport-Bristol
County: Sullivan
Tax ID/APN: 075 003.20

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,066 24,312 63,488
Median Age: 46.22 45.14 43.73
Households: 496 10,856 27,578

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