3201 Peoples St Johnson City, TN 37604
Property profile & analytics
3201 Peoples St Johnson City, TN 37604
- Drive through restaurants
- 3,120 SF
- 1.85 lot acres
Property ID
US80-0403407
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
- Wendy's / Restaurant / Take-out & Catering
Property Details for 3201 Peoples St
- Year built
- 2001
- Construction
- WOOD
- Lot size
- 1.85 lot acres
- Property size
- 3,120 SF
- Property type
- Drive through restaurants
- APN
- 037F B 01200
- APU
- 037FB01200
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,350,000
- ML approach
- $2,580,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Johnson City
- County
- Washington
- State
- Tennessee
- Longitude
- -82.399
- Latitude
- 36.3493
- CBSA code
- 27740
- CBSA name
- JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA
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
$325,120
$203,560
$528,680
-
$812,800
$508,900
$1,321,700
