Walgreens - Smyrna, TN | 806 Nissan Dr
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Walgreens - Smyrna, TN 806 Nissan Dr
14,550 SF Retail Building Smyrna, TN 37167 $5,616,000 ($386/SF) 7% Cap Rate
Investment Highlights
- 13-Year Primary Term With Twelve (12) 5-Year Option Periods
- Absolute Triple Net (NNN) Lease With Zero Landlord Responsibilities and Depreciation Benefits
- Property Features a Drive-Thru and Large Lot (1.91 Acres)
- Corporate Guaranteed Lease Featuring Investment Grade Credit (S&P: BBB)
- Rare 5% Rental Increases Every 5-Years Throughout the Primary Term and Each of the Option Periods Providing Hedge Against Inflation
- Walgreens is the Second-Largest Pharmacy Store Chain the the United States
Executive Summary
Sands Investment Group is Pleased to Exclusively Offer For Sale the Single Tenant Absolute Triple Net (NNN) Walgreens Located at the Signalized Corner of Nissan Drive and Enon Springs Road East in the Heart of Smyrna, TN (Nashville MSA). This Property Has a 13 Year Primary Term and Features Rare 5% Increases Every 5 Years Including at the Beginning of Each of the Twelve (12) Five-Year Option Periods. The Building Includes a Drive-Thru and Sits on 1.91 Acres of Land. The Lease is Guaranteed By Walgreens (S&P: BBB) and This Asset Benefits From a Destination Location as it is an Outparcel to a Walmart Supercenter. Additional Adjacent / Nearby Retailers Bringing Customers to the Location Include Dutch Bros, McDonald's, Popeyes, Jimmy Johns, Waffle House, Pizza Hut, Sonic Burger and More.
In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394
In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,550 SF
Building Class
B
Year Built
2005
Price
$5,616,000
Price Per SF
$386
Cap Rate
7%
NOI
$392,850
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.91 AC
Zoning
C-2
Parking
81 Spaces (5.57 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Drive Thru
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Walgreens
- Retailer
- 14,550 SF
- $27.00
- Triple Net
- Aug 2035
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Walgreens | Retailer | 14,550 SF | $27.00 | Triple Net | Aug 2035 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 034C-A-001.01-000 | Improvements Assessment | $693,760 |
| Land Assessment | $627,760 | Total Assessment | $1,321,520 |
PROPERTY TAXES
Parcel Number
034C-A-001.01-000
Land Assessment
$627,760
Improvements Assessment
$693,760
Total Assessment
$1,321,520
Contacts
-
Daniel Hoogesteger -
Adam Scherr -
Tyler McGarry -
Thomas Gorman -
Sands Investment Group Santa Monica, LLC
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Walgreens - Smyrna, TN | 806 Nissan Dr
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