Walgreens: New Albany, MS
Retail | 6.95% CAP | 14,411 SqFt
Marketing description
CBRE is pleased to exclusively offer for sale the 14,411-square-foot Walgreens situated on 1.82 acres in New Albany, MS - the county seat of Union County, MS (population: 28,198). The site is subject to a ±12.9-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
Investment highlights
NNN LEASE WITH RENEWAL OPTIONS
The site is subject to a ±12.9-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
EXCELLENT ACCESS & VISIBILITY
Walgreens is positioned with excellent access and visibility at the corner of the signalized intersection of Highway 30 West (9,900 VPD) and the on-ramp to Interstate 22 (26,000 VPD), which provides direct access to downtown Memphis (81.3 miles northwest).
RETAIL & COMMERCIAL CORRIDOR
In total, there are 1.1 MSF of retail, 2.4 MSF of industrial, 344 hotel room and 330 multifamily units within a 3-mile radius. Major retailers in the surrounding area include Walmart Supercenter, Hibbett Sports, Harbor Freight, Roses Discount Store, Dollar Tree, Dollar General, Sherwin-Williams Paint Store, GameStop, AT&T, Verizon, McDonald’s, Wendy’s, Taco Bell, Burger King, KFC, Popeyes Louisiana Kitchen, Captain D’s, McAlister’s Deli, Waffle House, AutoZone Auto Parts and NAPA Auto Parts, to name a few.
UNION COUNTY, MISSISSIPPI ADVANTAGE
Union County, Mississippi (population: 28,198) is located in the northern part of the state in the Tippah-Tishomingo region and is roughly equidistant between Memphis, TN and Nashville, TN. The economy is primarily fueled by agriculture, manufacturing, healthcare and retail & services.
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