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    3201 Peoples St Johnson City, TN 37604

    Sponsored
    For Sale
    $2,600,000

    High-Yield QSR in Johnson City, TN

    Property size:
    3,120 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 3,120 square foot Wendy's restaurant located at 3201 Peoples St, Johnson City, TN 37604. The property boasts a strong 5.00% cap rate and a substantial 26.1 years remaining on a triple-net (NNN) lease, expiring December 30, 2050, with a commencement date of October 31, 2019. The lease includes 7.5% rent bumps every five years, ensuring consistent income growth. Built in 2010 and renovated in 2020, this single-tenant property sits on a 1.85-acre lot and benefits from a prime location within the Johnson City MSA, enjoying high visibility and accessibility due to its proximity to major roadways including Interstate 26/US Route 23 and State of Franklin Road, experiencing combined daily traffic of 184,086 vehicles. The property is also conveniently located near East Tennessee State University (15,250 students) and major retail centers, serving a substantial population of 158,787 residents within a ten-mile radius, with average household incomes exceeding $105,000. The franchisee tenant enjoys a strong track record, and the property's location and lease terms make it an attractive investment with significant long-term potential. The Net Operating Income (NOI) is $130,000, and the asking price is $2,600,000, resulting in a price per square foot of $833.33. Further lease options are available for 4 or 5 year terms. This is a rare opportunity to acquire a well-established, high-performing Wendy's location with a secure, long-term lease.

    Property Features for 3201 Peoples St

    General Information

    Property type
    Restaurants
    Square Feet
    3,120 SF
    Lot Size
    80,586 SF

    Building Details

    Year Built/Renovated
    2010/2020

    HighLights

    • Prime Johnson City MSA location.
    • Long‑term, absolute triple‑net (NNN) lease with over 26 years remaining.
    • 7.5% rental increases every five years.
    • High‑traffic location at Peoples St, with direct access to major roadways (184,086 combined daily vehicles).
    • 10‑minute proximity to East Tennessee State University (15,250 students).
    • Strong demographics: 158,787 residents within a ten‑mile radius.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wendy's Fast Food Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.3989343
    Latitude
    36.3492668

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    FAQs

    What type of property is this?
    Restaurant - High-Yield QSR in Johnson City, TN
    Where is this restaurant located?
    The property is located at 3201 Peoples St Johnson City, TN.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: Prime Johnson City MSA location.; Long-term, absolute triple-net (NNN) lease with over 26 years remaining.; 7.5% rental increases every five years.
    Request Owner's contact information
    3201 Peoples St Johnson City, TN 37604
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    Johnson City, TN 37604
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3201 Peoples St Johnson City, TN 37604
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