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Millington, Tennessee

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Marcus & Millichap is pleased to present the exclusive listing for a Wendy’s located at 7895 US-51 N in Millington, TN. The property consists of 2,584 square feet of building space and is situated on approximately 1.02 acre of land.
The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the day following the close of escrow. The lease will call for rental increases that will be the lesser of the change in CPI or 1.25% annually starting in Year 3. The rental increases will continue through the base term and into the six, five-year tenant renewal options. The lease will carry a guaranty from Meritage Hospitality Group, an experienced 337+ unit operator and the second largest franchisee in the Wendy’s system.

About the Investment:

  • 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

About the Location:

  • Brand New Construction | Site is Expected to Open in May 2021
  • Compelling Location Fundamentals | Located Under Twenty Miles form Memphis, TN | Second Largest City in TN
  • Dense Retail Corridor | Includes Tractor Supply Co., Dollar General, Big Lots, Goody’s, Advance Auto Parts, Kroger, Goodwill, NAPA Auto Parts, O’Reily Auto Parts, Walgreens, Burger King, Pizza Hut, McDonalds, Sonic and Many More
  • Strong Traffic Counts | US-51 N Experiences Average Daily Traffic Counts of Approximately 32,000 Vehicles

About the Tenant/Brand:

  • Meritage Hospitality Group is an Experienced 337+ Unit Operator
  • Premier, National Growing Franchise with Operations in 16 States
  • Expansion into Key Markets
  • Proven Track Record with Operational History of Multiple High-Volume Locations throughout the Country
  • Public Company Guarantee (MHGU)
  • Strong Brand Recognition | Wendy’s is the World’s Number Three Hamburger Chain
  • Founded in 1986

Key Details

Cap Rate:
Annual Rent:
7895 US-51 N, Millington, Tennessee 38053
Property Type:
Net-Leased 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
Lot Size:
+/- 1.02 Acres
Building Size:
2,584 SF
Year Built:

Broker of record

Jody McKibben

License: 307629

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