224 Dexter L Woods Memorial Blvd Waynesboro, TN 38485
Property profile & analytics
224 Dexter L Woods Memorial Blvd Waynesboro, TN 38485
- Drive through restaurants
- 1,373 SF
- 1.00 lot acres
Property ID
US80-0468805
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Sonic Drive-In / Restaurant / Take-out & Catering
Property Details for 224 Dexter L Woods Memorial Blvd
- Year built
- 2003
- Lot size
- 1.00 lot acres
- Property size
- 1,373 SF
- Property type
- Drive through restaurants
- APN
- 091077C A 01901
- APU
- 091077CA01901
Description
This exceptional investment opportunity presents a 1,273 square foot Sonic Drive-In restaurant located on a one-acre lot at 224 Dexter L Woods Memorial Blvd, Waynesboro, TN 38485. The property boasts a strong location on a busy thoroughfare (9,980 AADT) with high visibility near US Highway 64, just half a mile from the downtown Court Square. Benefiting from an absolute NNN lease with an established Sonic franchisee, this property offers a remaining lease term of approximately 8.2 years (expiring January 15, 2033), providing long-term income stability. The lease includes percentage rent, resulting in low rent-to-sales ratios. The asking price is $2,024,000, representing a compelling $1,589.95 per square foot and a 6.00% cap rate with a current NOI of $121,428. The property benefits from a personal guaranty from an experienced operator with 32 units. The surrounding area features a strong demographic profile, with average household incomes exceeding $60,000 within a one-mile radius. Proximity to Wayne Medical Center, a 25-bed community hospital, and other national retailers such as McDonald's, Piggly Wiggly, Tractor Supply, and Dollar General, ensures consistent customer traffic. Waynesboro, Tennessee, situated 85 miles from Nashville, offers a unique lifestyle and benefits from a diverse local economy including automotive, textiles, manufacturing, and distilling industries. The absence of state income tax in Tennessee further enhances the investment's attractiveness. This is a rare opportunity to acquire a well-performing, established fast-food property in a growing market.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Waynesboro
- County
- Wayne
- State
- Tennessee
- Longitude
- -87.7586
- Latitude
- 35.3243
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
0
$0.00
$55,000
$117,120
$172,120
-
$137,500
$292,800
$430,300
