Located at 4257 Rhea County Highway, Dayton, Tennessee, this absolute net-leased Wendy’s property consists of a 3,082 sq.ft., restaurant, including a drive-up window and ample parking. The property sits on a huge .95 acre parcel of land. This building is strategically located on Rhea County Highway and sees a traffic count of over 20,520 vehicles per day. It also benefits from approximately 16,904 residences, having an average annual household income of over $55,205. The subject property has a 20-year lease, including a 7.5 percent hike in rent every five years, plus four five – year option periods. A 236 unit operating company with stores in FL, NM, TX, and TN backs the lease. Several national and regional retailers are also present in the immediate area, including Advance Auto Parts, Subway, Arby’s, Papa John’s, South East bank, Dollar General, and Captain D’s. Chattanooga State College, with 10,121 students, is located within 5 minutes from this property. 28 million dollar facility and Rhea Medical Center are also located in the vicinity. The property is positioned close to Laurel Snow State Natural Area, which is a famous recreational area with 2,259 acres managed by the Tennessee Department of Conservation. It receives thousands of visitors every year.
Founded by Dave Thomas on Nov 15, 1969, in Columbus, Ohio, Wendy’s is an international fast-food restaurant chain. Till January 2019, the company was operational at 6,711 locations, out of which the company owned 353 restaurants. A total of 6,358 restaurants are franchised, and North America has 77 percent of them. In 2016, second only to Burger King and McDonald’s, Wendy’s was the world’s third-largest hamburger fast-food chain.
This investment property is suitable for a 1031 exchange.
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