Wendy's
Closed5998 Stage Rd, Bartlett, TN 38134
Property type
Retail
Unit / Space count
1
Price
$2,700,000
Building size
2,307 sf
Rentable area
2,307 SF
Year built
2005
Year renovated
Occupancy
APN
B0-157-0-0492
Zoning code
Lot size
0.72 Acres
CAP
5.00%
Price per Unit
$2,700,000
Price per SF
$1,170.35
Net Operating Income
$135,000
Property description
Franklin Street is pleased to present this newly renovated Wendy's in Barlett, Tennessee. The franchisee is one of the largest in the brand. Meritage Hospitality Group currently operates 333+ restaurants across 16 states and has been a Wendy's franchisee for over 40 years. They recently signed an agreement to spend $100M developing 40 new Wendy's locations over the next 5 years. The Kroger Shopping center across the road is the 7th highest-performing location in the state of Tennessee out of 100+ locations, which is a significant traffic generator for the immediate area. The closest intersection to the property has over 58,000 vehicles per day which provides excellent visibility to the property. Stage Road is home to traffic generators including Bartlett High School and many national retailers including Kroger, LA Fitness, Walgreens, Applebee's, Popeyes, McDonald's, Dollar Tree, and many more.
Property highlights
- 16+ Year Wendy's Lease with CPI Increase or 5% every 5 years
- Across from Kroger-Anchored Shopping Center: 7th best-performing location in the state according to Placer AI
- Strong Memphis suburb with 178,000 residents within 5 miles
- Corporate guarantee from one of the largest franchisees: 330+ Units
- Excellent Visibility from Intersection : 58,000+ VPD
- Surrounded by National Retailers: Kroger, LA Fitness, Planet Fitness, McDonald's, KFC, Dollar Tree, Popeyes, Bargain Hunt
- Easily accessible from Stage Road traveling east & west
- Densely populated location with strong household incomes: $72,000 within 5 Miles