December 15, 2020 – Hobart Hare of Horvath & Tremblay has successfully completed the sale of Wendy’s in Lebanon, Tennessee. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,000,000, a 5.5% cap rate.
Wendy’s is located at 160 Highway 109 N in Lebanon, Tennessee. The stand-alone building with drive-thru consists of 3,085 square feet and sits on a 2.20-acre lot. Wendy’s has a long operating history at the location and signed a new, 20-year, lease at the Property in 2019. The absolute triple-net lease currently has 18+ years of term remaining plus four, 5-year renewal options. The lease calls for 10% rent increase every five years throughout the base term and renewal options. The Property is well located along Highway 109, which has an average daily traffic count in excess of 31,900 vehicles per day. Wendy’s is surrounded by national retailers and is strategically located less than ¼-mile from Interstate 40 at the bottom of the exit ramp. The Property is also close to “The Venue at 109” a new 300-acre mixed use development that features 730 apartments. Lebanon is an affluent community about 30-miles outside Nashville.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.