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Views: 84 DOM: 423 Updated: 07.04.24 Posted: 05.17.23 Status: Active

Summary

Price $4,285,000
Built/Renov 2003
Tenant Walgreens
Cap Rate 6.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,490
Lease Start 12-01-2003
#Units 13,532
Price/SF $295.72
Expiration 11-30-2028
Tenant Type Pharmacy
NOI $285,000
R. Term 4.4
Ownership Fee Simple
Rent/SF $19.67
Increases 0.0%/0/yrs
Pop 5Mi 26,688
Lot/AC 1.74
Options 10/5yrs
AHHI 5Mi $82,836

Lease Highlights

  • Walgreens has a 20+ year operating history at this location
  • Tenant has 5+ years remaining on primary term with options to extend into 2078
  • Absolute NNN lease features zero landlord responsibilities
  • Corporate guaranteed by Walgreens Boots Alliance (NASDAQ: WBA)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

The subject property is positioned at the intersection of Chapman Hwy (Hwy 441) and Marysville Hwy (Hwy 35) which have a combined traffic count of over 27,000 VPD. Nearby retailers include Food City, Tractor Supply Co., AutoZone, Starbucks, McDonald’s, Taco Bell, and more, creating a strong consumer draw to the immediate trade area. There are approximately 28,688 residents within a 5-mile...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,883 18,093 29,665
2023 Total Population : 4,790 17,906 29,264
2023 Employed Civilian Pop : 2,553 9,308 14,988
2023 Total Businesses : 203 417 594
2023 Average Household Income : $ 93,150 $ 90,548 $ 86,854
2023 Total Consumer Spending : $ 156 M $ 553 M $ 862 M
2023 Median Age : 45 44 44
2023 Total Households : 1,944 7,066 11,435
2023 Pop Age 25+: Bachelor's Degree : 774 2,489 4,056
2023 Average Home Value : $ 266,252 $ 295,489 $ 300,895
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Maryville Hwy N Knob Creek Rd 2005 9,310 0.33 mi
N. KNOB CREEK RD.. Berry Way 2021 1,327 0.42 mi
North Knob Creek Road Berry Way 2022 1,252 0.42 mi
Maryville Highway Colonial Cir 2022 9,469 0.44 mi
SR 338 Rader Dr 2021 14,776 0.44 mi
Boyds Creek Highway Rader Dr 2022 13,802 0.44 mi
Chapman Hwy Villa Dr 2005 17,340 0.45 mi
Chapman Highway Latonia Dr 2022 16,861 0.67 mi
Cherokee Hills Road 1st St 2022 1,869 0.92 mi
South Old Sevierville Pike Curley Ln 2022 6,818 1.34 mi

Listing Broker

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