24 Hrs Top 10% Placer Nationally $3.25 Sales | 132 E Broadway Blvd
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24 Hrs Top 10% Placer Nationally $3.25 Sales 132 E Broadway Blvd
14,470 SF Retail Building Jefferson City, TN 37760 $4,600,000 ($318/SF) 8.25% Cap Rate
Investment Highlights
- Both the store and pharmacy are open 24 hours a day, with strong sales figures of ±$3.25 million being reported.
- CVS is located directly adjacent to the subject property with the next nearest Walgreens over 11 miles to the east.
- Oshkosh Corporation, a Fortune 500 company, has a 500,000 square foot facility in Jefferson City and employs approximately 300 employees.
- Ranked in the top 10% of all Walgreens nationwide in customer visits, according to Placer.Ai.
- Located two miles east of Jefferson Memorial Hospital.
- Cherokee Reservoir is located 2.5 miles to the north and attracts 1 to 2 million visitors annually.
Executive Summary
We are pleased to present the Walgreens property located at 132 E. Broadway Blvd in Jefferson City, Tennessee ("The Property") for sale. This property has been operating successfully for over 18 years and currently has over 5 years of firm term remaining before the 10 (5-year) option periods. Walgreens is operating on an absolute triple net lease which provides for no landlord obligations whatsoever.
This 24-hour Walgreens store is ranked in the top 10% of all Walgreens locations nationwide for customer visits, according to Placer.Ai. The property offers investors the opportunity to acquire a high-sales Walgreens location, which is one of the chain's highest-trafficked locations.
Strategically located two miles east of Jefferson Memorial Hospital, the Property benefits from being positioned adjacent to a CVS and within a trade area with no other Walgreens for over 11 miles. It is also situated less than half a mile from Carson-Newman University, which enrolls approximately 2,585 students. Additionally, Oshkosh Corporation, a Fortune 500 company, operates a 500,000-square-foot facility in Jefferson City.
The Property is part of a well-established retail corridor that has over 964,000 square feet of retail space. Jefferson City is located along Andrew Johnson Highway (U.S. Route 11E), which runs through Tennessee and into Virginia. The city is 28 miles northeast of Knoxville and 13 miles southwest of Morristown, providing direct access to both cities.
Listed in association with Brian Brockman, 513-898-1551, wg@bangreatly.com, TN DRE Lic. #343847.
This 24-hour Walgreens store is ranked in the top 10% of all Walgreens locations nationwide for customer visits, according to Placer.Ai. The property offers investors the opportunity to acquire a high-sales Walgreens location, which is one of the chain's highest-trafficked locations.
Strategically located two miles east of Jefferson Memorial Hospital, the Property benefits from being positioned adjacent to a CVS and within a trade area with no other Walgreens for over 11 miles. It is also situated less than half a mile from Carson-Newman University, which enrolls approximately 2,585 students. Additionally, Oshkosh Corporation, a Fortune 500 company, operates a 500,000-square-foot facility in Jefferson City.
The Property is part of a well-established retail corridor that has over 964,000 square feet of retail space. Jefferson City is located along Andrew Johnson Highway (U.S. Route 11E), which runs through Tennessee and into Virginia. The city is 28 miles northeast of Knoxville and 13 miles southwest of Morristown, providing direct access to both cities.
Listed in association with Brian Brockman, 513-898-1551, wg@bangreatly.com, TN DRE Lic. #343847.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,470 SF
Building Class
B
Year Built
2005
Price
$4,600,000
Price Per SF
$318
Cap Rate
8.25%
NOI
$379,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.60 AC
Zoning
R-1
Parking
30 Spaces (2.07 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Drive Thru
Walk Score ®
Very Walkable (76)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 023E-E-017.00 | Improvements Assessment | $400,480 |
| Land Assessment | $468,280 | Total Assessment | $868,760 |
PROPERTY TAXES
Parcel Number
023E-E-017.00
Land Assessment
$468,280
Improvements Assessment
$400,480
Total Assessment
$868,760
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24 Hrs Top 10% Placer Nationally $3.25 Sales | 132 E Broadway Blvd
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