• Top-Performing Wendy’s in a Growing East Tennessee Market – The property ranks in the 86th percentile of all Wendy’s locations nationwide and benefits from Elizabethton’s position within the rapidly growing Tri-Cities region, which experienced 17.4% population growth from 2010–2025 and is projected to continue expanding as retirees and relocating residents are drawn to Tennessee’s affordability and tax advantages.
• Strong Consumer Base Driven by ETSU and Regional Healthcare Employment – Located near East Tennessee State University, home to nearly 14,000 students, the property benefits from a stable customer base supported by higher education and healthcare employment, including the nationally recognized Quillen College of Medicine, one of only three medical schools in Tennessee.
• Strategic Location Along a Dominant Retail Corridor – The restaurant is positioned on a primary retail thoroughfare with 25,220 vehicles per day, providing strong visibility and convenient access while being surrounded by major national and regional retailers including Walmart, Lowe’s, Food City, Ingles Markets, and Chick-fil-A.
• Gateway to One of the Southeast’s Most Visited Outdoor Recreation Destinations – Elizabethton serves as an entry point to Cherokee National Forest, which attracts more than 2 million visitors annually, and is also near Watauga Lake and the Appalachian Trail, supporting tourism-driven traffic throughout the year.
• Operated by an Experienced Wendy’s Franchisee – The property is operated by M&J Restaurants, a long-standing Wendy’s affiliate with a proven operating history, contributing to the location’s strong performance and national ranking within the Wendy’s system.
• Recently Renovated Asset with Limited Near- Term Capital Requirements – Following a comprehensive renovation completed in 2018, the property features modern restaurant improvements that are expected to minimize near-term capital expenditures for ownership.
• Large Freestanding Restaurant on a 0.79-Acre Parcel – The property consists of a 2,431-square-foot building situated on approximately 0.79 acres, providing ample site size and parking within a well-established commercial corridor.
• Long-Term Absolute NNN Lease with Contractual Rent Growth – Investors benefit from approximately 15 years of remaining lease term through August 2041, guaranteed by M&J Restaurants, Inc., with 8% rent increases every five years and no landlord responsibilities under the Absolute NNN structure.