Wendy's 874 US-321 2,500 SF 4-Star Retail Building Lenoir City, TN 37771 $3,426,349 CAD ($1,370.54 CAD/SF) 5.50% Cap Rate

Marcus & Millichap is pleased to present for sale this Wendy’s Restaurant with Drive Thru located in Lenoir City, Tennessee. Lenoir City is located a short 30 minute drive from Knoxville, Tennessee. The Knoxville Metropolitan Area has a population exceeding 1.05 Million People. This brand new 022 construction Wendy’s is located in front of a Food City Supermarket and across the street from a Walmart Supercenter and a Home Depot. Situated on busy highway 321, this Wendy’s experiences traffic counts exceeding 29,000 vehicles per day.
Many brand-new home developments have been springing up near this Wendy’s including Rarity Bay Community by Providence Builders with 900 Homeowners, Tellico Village by Providence Builders with 99 Homesites and WindRiver by Providence Builders with 350 homes (200 which are lakefront on Lake Tellico.)
Numerous apartment complexes also surround this property including Vintage Creekwood Park Apartments with three stories and 208 rented units, Town Creek Apartments with 96 units, River Manor Apartments with 29 units, Spring Place Apartments with 72 units and Loudonview Apartments with 24 units.
Roane State Community College is also in the vicinity of this property with a student enrollment over 5,172 students.
Wendy’s is an international fast-food restaurant chain founded by Dave Thomas on November 15, 1969, in Columbus, Ohio. As of January 2019, there were a total of over 6,711 locations, including 353 that are company-owned. 6,356 restaurants are franchised and 77 percent of them are located in North America. (In 2016, Wendy’s was the world’s third largest hamburger fast-food chain, following Burger King’s 12,000 plus locations and McDonald’s with 31,000 plus locations.).