376 Jackson Blvd Jonesborough, TN 37659-5394

Property Details for 376 Jackson Blvd

Lot size

2.36 lot acres

Property type

Commercial land

APN

060A D 00602

APU

060AD00602

Description

This exceptional investment opportunity presents a brand-new, fee-simple Wendy's restaurant featuring a 30-year net lease commencing December 31, 2024, and expiring December 31, 2054. The property boasts a 2,320 square foot building situated on a 1.23-acre lot in Jonesborough, Tennessee (Washington County, zip code 37659), at 376 E Jackson Blvd. The property benefits from a prime retail location on US-321, experiencing traffic counts exceeding 30,000 vehicles daily. This affluent area boasts average household incomes exceeding $110,000 within a one-mile radius, further enhanced by its proximity to East Tennessee State University (within 6 miles) and the Washington County Court. The tenant is an experienced Wendy's franchisee with a proven track record of success, operating 19 locations in the market and recognized for exceptional performance within the Wendy's national system. The lease includes a 7.5% rent increase every five years, providing a strong hedge against inflation. The property's Net Operating Income (NOI) is $146,000, resulting in a 5.00% cap rate, with an asking price of $2,920,000. The building, constructed in 2024, is a single-story structure with 100% occupancy, commencing November 1, 2024. The lease includes four, five-year options at 7.5% each. This is an absolute NNN property, requiring zero landlord responsibilities, making it ideal for passive investors. The property is located near several major retailers, including Tractor Supply, Lowe's, Captain D's, Regions Bank, Papa John's Pizza, Food City, Pizza Hut, Taco Bell, and Ingles Market.

Location Insight

City

Jonesborough

County

Washington

State

Tennessee

Longitude

-82.4725

Latitude

36.298

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments