749 S Highland St - Fast Food FOR SALE


Memphis, TN 38111- Audubon Park
$2,515,105 USD
708-774-5860
749 S Highland St, Memphis, TN for Sale
$2,515,105 USD
Fast Food - FOR SALE
1/3
null | 5.5% Cap Rate

749 S Highland St
Memphis, TN 38111
Audubon Park


HIGHLIGHTS

  • Long Term Absolute Triple-Net (NNN) Lease
  • Experienced Franchisee
  • Nationally Recognized Brand
  • Strong Demographics

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,515,105 USD

PRICE/SF

$928 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wendy's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.65 AC

LAND SF

28,314 SF

ZONING

CMU-1

APN/PARCEL ID

04-5115-0-0003C

ASK ABOUT THIS PROPERTY

Adam FriedlanderSurmountMore Info
708-774-5860

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Adam FriedlanderSurmountMore Info
708-774-5860

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.