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15482782
15482783

4210 N Roan St, Johnson City, TN 37601

EC
CA 01809955, NV S0172067 (+4)
Colliers - Los Angeles - Orange County, California
JS
CA 01360233
Colliers - Los Angeles - Orange County, California
JM
TN 270138
Colliers - Nashville, Tennessee
Colliers - Los Angeles - Orange County, California
Listed by Colliers - Los Angeles - Orange County, California, Colliers - Nashville, Tennessee
$5,472,000
812 days on market
Updated 7 days ago

Walgreens

Details
APN 090029F C 04100
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,820
Cap Rate 6.25%
NOI $342,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 75.1
Lease Expiration 04/30/2084
Remaining Term 57.9
Price per SqFt $369
Acreage 1.930
Investment Type Net Lease
Lease Commencement 04/06/2009

Retail | 6.25% CAP | 14,820 SF

Marketing description

The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire the single tenant NNN leased Walgreens Pharmacy in Johnson City. TN. Walgreens is one of the largest drugstore chains in the U.S. and operates over 9,000 Stores in all 50 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands. The 75-year corporate guaranteed lease has over 10 firm lease years remaining in the primary term with zero landlord responsibilities and potential for additional percentage rent.

The 18,820 SF standalone building with drive-thru on large 1.93-acre parcel is strategically positioned on the hard corner signalized intersection of N Roan Street and Carroll Creek road which have a combined traffic count exceeding 20,800 VPD and prospers from excellent visibility and access. Nearby retailers include Walmart Supercenter, Sam’s Club, The Home Depot, Lowe’s Home Improvement, Hobby Lobby, Food City, Ingles Market, CVS, Dollar General, Express Oil Change, McDonald’s, Starbucks, and Hardees.

This is an excellent opportunity to purchase a triple net leased corporate Walgreens in Tennessee with a long-term lease, no landlord duties and strong site fundamentals providing stable cash flows for years to come.

Investment highlights

  • Long Term Absolute NNN Corp. Lease by Walgreens (NASDAQ: WBA) - 10+ Yrs. Left plus Options

  • High Profile Signalized Hard Corner - Across from Food City Shopping Center - Dense Retail Trade Area

  • Strong Demographics ($112,606 AHHI) - Zero LL Duties - Drivethru Pharmacy - Large 2.04 Acre Parcel

  • Affluent City Ranked #1 “Best Place to Live in Kingsport Area” - Job Growth Predicted to be over 35.4%

  • 2nd Largest Retail Pharmacy Chain in the Country - Best in Class Brand Name - 12.5K Locations in World

Listing Contacts

EC
CA 01809955, NV S0172067 (+4)
Colliers - Los Angeles - Orange County, California
JS
CA 01360233
Colliers - Los Angeles - Orange County, California
JM
TN 270138
Colliers - Nashville, Tennessee
Colliers - Los Angeles - Orange County, California
Listed by Colliers - Los Angeles - Orange County, California, Colliers - Nashville, Tennessee

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$342,000.00
$28,500.00/mo

Valuation Metrics

0
DSCR
6.25%
Cap Rate
6.25%
ROI

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