Wendy's for Sale in Covington, TN
Covington, TN
Key Investment Metrics
Price
$1,869,310
Cap Rate
6.0%
Net Operating Income
$112,159
Building Size
2811 SF
Land Area
0.57 Acres
Remaining Term
10.9 years
Lease Expiration
05/31/2037
Lease Term
20 years
Lease Commencement
05/18/2017
Lease Type
NNN
Year Built
N/A
Occupancy
100%
Tenancy
Single
Rent Increases
CPI/5-Years (10% Cap)
Property overview
Wendy's in Covington
Review the reported property and lease details, then request the supporting documents for your acquisition review.
- Building area
- 2,811 SF
- Land area
- 0.57 acres
- Lease type
- NNN
- Lease expiration
- 05/31/2037
Confirm current availability, pricing and lease terms through the inquiry form before relying on this listing.
Before you make an offer
Four things to verify
- 1
Lease and guaranty
Request the executed lease and amendments. Identify the legal tenant, guarantor and landlord obligations.
- 2
Income and expenses
Obtain the rent roll and operating statement supporting the advertised NOI and cap rate.
- 3
Property condition
Review survey, title, condition and environmental information relevant to this property.
- 4
Exchange requirements
For a 1031 exchange, confirm eligibility and deadlines with your qualified intermediary and tax adviser.