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11+ Year NNN Walgreens in Tax-Free State 104 Asheville Hwy

14,560 SF Retail Building Greeneville, TN 37743 $5,704,762 ($392/SF) 5.25% Cap Rate

Drug Stores Tennessee Greeneville 104 Asheville Hwy, Greeneville, TN 37743

Investment Highlights

  • Long Term Absolute Net Lease - Zero Landlord Responsibilities
  • Strategic Location - Next Closest Walgreens Over 5 Miles Away
  • Tennessee is an Income Tax Free State
  • Main & Main Location in Established Trade Area

Executive Summary

Built in 2008, this Walgreens is strategically located in the heart of Greeneville. With over 11 years of guaranteed term remaining on its absolute NNN lease, this drugstore is positioned on a hard corner along the preeminent retail corridor on West Main Street. Dozens of high-profile national retailers surround the location. In addition to having zero landlord responsibilities, this asset is also located in the “income tax free state” of Tennessee and features a full Walgreens Guaranty. This Greeneville Walgreens is an ideal 1031 exchange for the savvy investor.

Attachments

Loopnet WAG - Greeneville, TN_OM
Loopnet WAG - Greeneville, TN_OM

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,560 SF
Building Class
B
Year Built
2008
Price
$5,704,762
Price Per SF
$392
Cap Rate
5.25%
NOI
$299,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Land Acres
1.93 AC
Zoning
M2
Parking
53 Spaces (3.58 Spaces per 1,000 SF Leased)
Frontage
293 FT on Asheville Hwy

Amenities

  • Signage
  • Skylights
  • Drive Thru
  • Storage Space
  • Air Conditioning

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Retailer
  • -
  • -
  • -

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.

Tenant Industry SF OCCUPIED RENT/SF Lease End
Retailer - - -

Links

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104 Asheville Hwy, Greeneville, TN - aerial map view

PROPERTY TAXES

Parcel Number 110B-B-015.00 Improvements Assessment $603,760
Land Assessment $109,440 Total Assessment $713,200

PROPERTY TAXES

Parcel Number
110B-B-015.00
Land Assessment
$109,440
Improvements Assessment
$603,760
Total Assessment
$713,200
(888) 434-9701

  • Listing ID: 25884778

  • Date on Market: 6/8/2022

  • Last Updated:

  • Address: 104 Asheville Hwy, Greeneville, TN 37743

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11+ Year NNN Walgreens in Tax-Free State | 104 Asheville Hwy
(888) 434-9701 x

11+ Year NNN Walgreens in Tax-Free State | 104 Asheville Hwy

Arthur Griffith

(888) 434-9701

(888) 434-9701

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