Shape memory polymers (SMPs) are known for their unique ability to withstand large deformations and revert to their original shape under specific external stimuli. However, their broader application in biomedical and structural applications is restricted by limited mechanical and thermal properties. Introducing multi-walled carbon nanotubes (MWCNTs) into SMPs has proven to significantly enhance these characteristics without affecting their inherent shape memory features. This study investigates shape memory nanocomposites (SMNCs) through dynamic and thermogravimetric analyses, along with tensile, flexural, and shape memory testing, and explores fracture interfaces using scanning electron microscopy. Findings indicate optimal shape memory, thermal, and mechanical properties with 0.6 wt% MWCNT content, showcasing a shape recovery ratio of 93.11%, storage modulus of 4127.63 MPa, tensile strength of 55 MPa, and flexural strength of 107.94 MPa. Moreover, incorporating MWCNTs into epoxy demonstrated a reduction in recovery times by up to 50% at 0.6 wt% concentration. Despite a slight decrease in shape fixity ratio from 98.77% to 92.11%, shape recoverability remained nearly consistent across all samples. The study also introduces a novel finite element (FE) method in ABAQUS for modeling the thermomechanical behaviour of SMNCs, incorporating viscoelasticity, validated by matching experimental results with FE simulations, highlighting its accuracy and practical applicability in engineering.