1863 Union Ave
Memphis, TN 38104
Walgreens · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- • Leased to Walgreens on a ground lease; zero landlord responsibilities
- • Rare, triple drive-thru lanes, enhancing store performance
- • 24-Hour store and pharmacy; one of five 24-hour locations in Memphis
- • Massive, oversized parcel of +/- 2.31 acres
- • Corporate guarantee; Investment grade tenant (S&P: BBB)
- • Placed in high traffic corridor of Memphis with high traffic counts along Union Ave., which sees approximately 35,149 VPD
PROPERTY FACTS
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,314 SF
Building Class
B
Year Built
1995
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
2.31 AC
Zoning
CMU-3
Parking
104 Spaces (6.79 Spaces per 1,000 SF Leased)
Frontage
118’ on Union Ave
AMENITIES
- Banking
- Pylon Sign
- Restaurant
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 01-6051-0-0018C | Improvements Assessment | $482,520 |
| Land Assessment | $280,000 | Total Assessment | $762,520 |
