903 New Highway 68Sweetwater, TN 37874

Property Details for 903 New Highway 68

Year built

2023

Lot size

0.90 AC

Property size (Sq ft)

2,243 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a brand-new, 2023-built Wendy's restaurant located at 903 New Hwy 68, Sweetwater, TN 37874. The property boasts a 2,243 square-foot building on a 0.9-acre lot, operating under a 20-year absolute NNN lease commencing October 31, 2023, and expiring October 30, 2043. The lease includes four 5-year options and attractive 7.5% rent bumps every five years. The current asking price is $2,272,727, representing a 5.50% cap rate and a price per square foot of $1,013.25. The property enjoys 100% occupancy and generates a net operating income (NOI) of $125,000. This single-tenant, fee-simple ownership offers a secure, passive income stream. The location benefits from high traffic counts exceeding 20,000 vehicles per day, proximity to Ingles Market and Rural King, and a strong surrounding demographic with numerous apartment complexes and nearby colleges and universities including Cleveland State Community College, Tennessee Wesleyan University, and Roane State Community College. Furthermore, the property is conveniently located near Athens Regional Medical Center and Starr Regional Medical Center. The Wendy's operator manages over 90 units. This is a rare opportunity to acquire a high-performing asset in a thriving community.

Location Insight

City

Sweetwater

County

Monroe

State

Tennessee

Latitude

35.5906

Longitude

-84.4745

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