Wendy's - Memphis, TN

6143 Walnut Grove Road, Memphis, TN, 38120, US

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in the Wendy’s located at 6143 Walnut Grove Road in Memphis, Tennessee (“Property” or “Asset”). Wendy’s is operating on an absolute NNN lease with ±12.0 years of primary lease term remaining, various rental escalations, and four, five-year renewal options.

Located just 10 miles east of downtown Memphis, the Property is conveniently positioned at the intersection of Humphreys Blvd and Walnut Grove Road, just off Interstate 240 with direct accessibility to more than 217,000 vehicles per day. Interstate 240 is a 19-mile-long auxiliary Interstate Highway that forms a contiguous beltway around most of Memphis, allowing easy travel to anywhere in the city.

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Attributes

Asking price

SGD 3,763,000

Cap rate

NOI

SGD 226,000

WAULT

12 years

Building area net

311 m²

Land area gross

0.46 ha

Media

Investment Highlights

Operating on an absolute NNN lease with ±12.0 years of primary lease term remaining
Outparcel to Baptist Memorial Healthcare flagship hospital with 706 beds
Meritage Hospitality Group is one of the fastest growing restaurant companies in the U.S.
Strong demand characteristics driven by 1-mile AHHI of $208K
Dense commercial corridor off I-240 with accessibility to 217,000 VPD
College town location with The University of Memphis just 4 miles from Property