Wendys Covington Tn — Sale in Wendy's | Covington, TN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Wendy's | Covington, TN 38019

Investment Figures

Cap rate
6.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Wendy’s located at 802 US-51 in Covington, Tennessee. The property is subject to a long-term NNN lease with approximately 12 years remaining, featuring CPI-based rent increases every 5 years and four (4) five-year renewal options. The ±2,811-square-foot building sits on a ±0.57-acre parcel with prime frontage along US-51, Covington’s primary retail corridor. The property benefits from excellent visibility, convenient access, and strong traffic flow. Surrounding national retailers include Walmart Supercenter, Walgreens, Tractor Supply Co., Dollar Tree, Five Below, McDonald’s, and AutoZone, creating a robust retail synergy and consistent customer draw. Covington is part of the Memphis MSA, one of Tennessee’s fastest-growing metros with a population exceeding 1.3 million. The area is experiencing significant investment, including a $97.7M Charms LLC manufacturing expansion, a $12.4M renovation of Broadmeadow Place Apartments, and infrastructure upgrades such as a $2M sewer extension and the planned Future Interstate 69 corridor. These developments strengthen the local economy, enhance connectivity, and position Covington for long-term growth. Investment Highlights: • Long-Term NNN Lease With CPI-Based Increases • Surrounded by National Retail Anchors • Growing Covington Market With Major Developments • Part of Memphis MSA With Strong Demographics • Globally Recognized QSR Brand

Market Context

This retail in Wendy's | Covington, TN is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 101 days. Compare it against other retail listings for sale in Wendy's | Covington, TN — view the full market.

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