903 New Highway 68 - Bank FOR SALE


Sweetwater, TN 37874
$2,545,454 USD
786-522-7013
903 New Highway 68, Sweetwater, TN for Sale
$2,545,454 USD
Bank - FOR SALE
1/5
null | 5.5% Cap Rate

903 New Highway 68
Sweetwater, TN 37874


HIGHLIGHTS

  • Brand New 2023 Construction Wendy’s Restaurant with Drive Thru
  • 20 Year Absolute NNN Lease | No Landlord Responsibilities
  • Attractive 7.5% Rent Increases Every 5 Years
  • Strong Wendy’s Operators | 90+ Units
  • Wendy’s Hamburger Restaurant Located at 903 New Highway 68 in Sweetwater, Tennessee Population 6,312 and Named One of Tennessee’s Most Charming Cities
  • Average Household Income Exceeds $62,482 in a Mile Radius

OVERVIEW

Marcus & Millichap is pleased to present for sale this Wendy’s Hamburger Restaurant located at 903 New Highway 68 in Sweetwater, Tennessee. Sweetwater is a city in Monroe and McMinn Counties with a population of 6,312. Sweetwater is the home of Craighead Caverns which contains the Lost Sea, the largest underground lake in the United States. In 2022, TravelMag named Sweetwater one of Tennessee’s Ten Most Charming Cities. Sweetwater is centered along U.S. Route 11 between its junction with State Route 68 and State Route 322. On January 15, 2022, Red Stag Fulfillment announced plans to develop a 420-ace commerce distribution center along I-75 which is estimated to provide 3,500 jobs and annual tax revenue of $1.9 million to the city of Sweetwater. Nearby colleges and universities include Cleveland State Community College with 3,573 enrolled students, Tennessee Wesleyan University with 1,103 enrolled students and Roane State Community College with 5,636 enrolled students. Also located nearby the property is Athens Regional Medical Center with 118 beds serving the community and Starr Regional Medical Center with 278 beds. Numerous apartment complexes surround this Wendy’s Restaurant including Sequoyah Trail Apartments, West Hills Apartments, Dogwood Trace II Apartments, Cross Creek Apartments, Monroe Ridge Apartments, Apartments 1, Ridgeview Apartments, Crestview Apartments, New Adventure Apartments, Mountain View Apartments, Ridgeway Apartments, and Island Grove Apartments. Wendy’s is an international fast food restaurant chain founded by Dave Thomas on November 15, 1969 in Columbus, Ohio. The Wendy’s Company (NASDAQ:WEN) is the world’s third largest quick service hamburger company (following Burger King and McDonald’s). It includes more than 6,500 franchise and company restaurants in the United States and in 29 other countries and U.S. Territories worldwide. (5,457 restaurants are franchised and 77 percent of them are located in North America). It’s annual sales volume is over $2.06+ Billion.

FOR SALE DETAILS

PRICE

$2,545,454 USD

PRICE/SF

$1,135 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wendy's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,204 SF

ZONING

C-3

APN/PARCEL ID

033B-A-011.01

ASK ABOUT THIS PROPERTY

Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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