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Wendy’s

Memphis, Tennessee

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Marcus & Millichap is pleased to present the exclusive listing for a Wendy’s located at 2099 Whitten Road in Memphis, TN. The site consists of roughly 2,690 rentable square feet of building space on an estimated 0.70-acre parcel of land. This Wendy’s is subject to a 20-year triple-net (NNN) lease, which will commence at closing. The rent will be set at $135,000 and is scheduled to increase by the lesser of change in CPI or 1.25% annually throughout the base term, beginning in Year 3 and in each of the Six (6), Five (5)-Year option periods.

Brand New 20-Year Sale-Leaseback
Triple Net (NNN) Lease with Zero Landlord Responsibilities
Attractive Rental Increases | Lesser of Change in CPI or One and a Quarter Percent (1.25%) Annually Starting in Year 3
Six (6) Tenant Renewal Periods of Five (5) Years Each
BRAND NEW CONSTRUCTION, SCHEDULED TO OPEN OCTOBER 2022

Key Details

Price:
$2,842,105
Cap Rate:
4.75%
Annual Rent:
$135,000
Address:
2099 Whitten Road, Memphis, Tennessee 38133
Property Type:
Quick-Service Restaurant
Lease Type:
Triple Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Day Following Close of Escrow
Lease Expiration:
20 Years from Close of Escrow
Lease Term Remaining:
20 Years
Rental Increases:
Lessor of Change in CPI or 1.25% Annually Starting Year 3
Lot Size:
0.70 Acres
Building Size:
2,690 SF
Year Built:
2022
Tenant:
Wendy’s

Broker of record

Jody McKibben

License: 307629


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