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Wendy's 1646 S Highland Ave 2,284 SF Retail Building Jackson, TN 38301 $2,952,641 CAD ($1,292.75 CAD/SF) 5.60% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term NNN Lease 13 Years Remaining with Six, 5-Year Options
- 1.25% Annual Rent Increases or Change in CPI (Lessor)
- Backed By Meritage Hospitality Group, one of the largest Wendy's Franchisees with over 375 Restaurants
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to offer the opportunity to acquire a Wendy’s property consisting of 2,284 square feet on nearly one acre of land. The asset is secured by a long-term lease with 13 years remaining on the initial term. attractive 1.25% annual increases and six additional five-year renewal options. This is an absolute triple net lease with zero landlord responsibilities.
Fronting the Main Commercial Corridor S. Highland Avenue which sees over 35,000 Vehicles Per Day.
Fronting the Main Commercial Corridor S. Highland Avenue which sees over 35,000 Vehicles Per Day.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
2,284 SF
Building Class
B
Year Built
1979
Price
$2,952,641 CAD
Price Per SF
$1,292.75 CAD
Cap Rate
5.60%
NOI
$165,348 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.80 AC
Zoning
B5
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 109B-A-002.01 | Improvements Assessment | $147,058 CAD |
| Land Assessment | $142,061 CAD | Total Assessment | $289,118 CAD |
PROPERTY TAXES
Parcel Number
109B-A-002.01
Land Assessment
$142,061 CAD
Improvements Assessment
$147,058 CAD
Total Assessment
$289,118 CAD
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Wendy's | 1646 S Highland Ave
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