Walgreens | 11305 Chapman Hwy
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Walgreens 11305 Chapman Hwy
14,490 SF Retail Building Seymour, TN 37865 $4,285,000 ($296/SF) 6.65% Cap Rate
Investment Highlights
- Proven Long Term Absolute NNN Lease since 2003 by Walgreens (NASDAQ: WBA) - 5+ Years Left
- Rare Combination of Strong Sales way Above Average with Below Market Rent - Low Downside Risk
- Large 1.74 Acre Parcel - Zero LL Duties - Steady Increase of Annual Sales - Across from Food City Market
- High Profile Corner along Hwy 441 & 338 - Main Intersection of City - Dense Commercial Trade Area
- Affluent Suburb of Knoxville - Huge Population Growth - Ranked Top “Best Mid-Size Cities in U.S.” 2023
Executive Summary
The Snyder Carlton National Net Lease Team is pleased to offer to investors an opportunity to purchase a single tenant absolute NNN leased investment (fee simple) that is fully occupied by Walgreens with 5.7 lease years remaining and options to extend through 2078. Located in Seymour, TN, 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. Seymour, TN is part of the Knoxville MSA (population: 861,000) and is only 12 miles from downtown Knoxville. Nearby Retailers include Food City, Tractor Supply Co., AutoZone, Starbucks, McDonald’s, Taco Bell, and Burger King. This is an excellent opportunity to purchase an investment grade (rated “BBB” by S&P) NNN leased asset with zero landlord obligations that has successfully operated at this location for over 20 Years.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,490 SF
Building Class
B
Year Built
2003
Price
$4,285,000
Price Per SF
$296
Cap Rate
6.65%
NOI
$285,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.33
Lot Size
1.00 AC
Zoning
C-2
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 045-096.00 | Improvements Assessment | $439,480 |
| Land Assessment | $139,000 | Total Assessment | $578,480 |
PROPERTY TAXES
Parcel Number
045-096.00
Land Assessment
$139,000
Improvements Assessment
$439,480
Total Assessment
$578,480
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Walgreens | 11305 Chapman Hwy
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