Wendy's - Germantown, TN

9197 Poplar Avenue, Germantown, TN, 38138, 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 9197 Poplar Avenue in Germantown, 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 15 miles southeast of downtown Memphis, Germantown is an affluent suburb with more than 40,000 residents and the highest incomes in the Nashville MSA. The Property is positioned along Poplar Ave, just south of Forest Hill Irene Road with direct accessibility to more than 32,000 vehicles per day and average household incomes exceeding $266,000 within a 1-mile radius.

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Attributes

Asking price

THB 60,821,000

Cap rate

NOI

THB 3,650,000

WAULT

12 years

Building area net

311 m²

Land area gross

0.37 ha

Media

Investment Highlights

Operating on an absolute NNN lease with ±12.0 years of primary lease term remaining
Outparcel to Shops at Forest Hill, a top 5% shopping center
Meritage Hospitality Group is one of the fastest growing restaurant companies in the U.S.
Strong demand characteristics driven by 1-mile AHHI of $266K
Dense commercial corridor with direct accessability to 32,000 VPD
College town location with The University of Memphis just 11 miles from Property