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.