8636 US Highway 51 N - Fast Food FOR SALE


Millington, TN 38053
$2,166,667 USD
408-510-9057
8636 US Highway 51 N, Millington, TN for Sale
$2,166,667 USD
Fast Food - FOR SALE
1/5
null | 6% Cap Rate

8636 US Highway 51 N
Millington, TN 38053


HIGHLIGHTS

  • Situated in a Prime Retail Area of Millington, Tennessee, Which Is Currently Experiencing a Surge in Development
  • Located at the Bustling Intersection of US Highway 51 and W Union Road, the Site Benefits From a Combined Traffic Count of 31,200 Vehicles per Day
  • Directly Across From a New Development Anchored by Hobby Lobby With Other Tenants Such As ALDI, T.J. Maxx, Ulta, Popshelf and Chicken Salad Chick
  • Brand New 20 Year NNN Lease With No Landlord Responsibilities, to Commence at Close of Escrow and Features 1.5% Annual Rental Increases
  • Guaranteed by Hungry Pig Restaurant Operations, LLC, a Growing Operator That Currently Manages 7 Arby’s With a Robust M&A and Development Pipeline

OVERVIEW

This property is located in the heart of Millington, Tennessee, a prime retail area experiencing a surge in development. Positioned at the high-traffic intersection of US Highway 51 and W Union Road, the site benefits from a combined daily traffic count of 31,200 vehicles. Directly across from a new development anchored by Hobby Lobby and featuring tenants such as ALDI, T.J. Maxx, Ulta, Popshelf, and Chicken Salad Chick, the property is surrounded by a robust retail mix. Other nearby retailers include Walmart Supercenter, Whataburger, Petco, Ross, Chipotle, Buffalo Wild Wings, and many more. With prominent street frontage and a sizable pylon sign, the site offers outstanding visibility and easy accessibility. The property features a brand-new 20-year NNN lease with no landlord responsibilities, set to begin upon the close of escrow. The lease includes 1.5% annual rental increases, ensuring a steady growth in NOI while hedging against inflation. Four five-year renewal options bring the potential lease term to 40 years, offering long-term stability. Backed by Hungry Pig Restaurant Operations, LLC, a growing operator currently managing seven Arby’s locations with plans to expand to 30+ units by 2026, the property is secured by a strong guarantor. Arby’s, a global brand with over 3,500 locations, continues to expand into emerging markets, focusing on suburban and urban areas to enhance accessibility. With its commitment to operational excellence and seamless customer experiences, this property offers an exceptional investment opportunity in a thriving market.

FOR SALE DETAILS

PRICE

$2,166,667 USD

PRICE/SF

$962 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Arby's | 20YR NNN Lease | Memphis MSA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.87 AC

LAND SF

37,897 SF

ZONING

B-2

APN/PARCEL ID

M0-115-A-00032

ASK ABOUT THIS PROPERTY

Tyler BindiMarcus & MillichapMore Info
408-510-9057

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Tyler BindiMarcus & MillichapMore Info
408-510-9057

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