

8.65 cap Tax Free State Walgreens
Absolute NNN Lease with 8.5 Year Remaining
Marketing description
Investment highlights
Absolute NNN Lease: With 8.5 years of firm lease term remaining under an absolute NNN lease structure, this property provides a reliable income stream with zero landlord responsibilities, offering investors a hassle-free ownership experience.
Prime Location in a Thriving Trade Area: Situated at the signalized hard corner of N. Roan Street and Carroll Creek Road, this property benefits from high visibility and accessibility in North Johnson City, Tennessee. The surrounding retail corridor is a bustling hub featuring prominent tenants such as Food City, Dollar General, Hardee’s, O’Reilly Auto Parts, and McDonald’s, driving consistent traffic and consumer activity.
Strategic Positioning in a Growing Market: Located in a key retail development zone along the I-26 corridor, the property is at the heart of North Johnson City’s expanding commercial landscape. Its proximity to major retailers like Walmart, Target, and Johnson City Crossings enhances its appeal as a high-traffic investment opportunity.
Exceptional Property Features: This 14,820 SF single-tenant retail asset sits on a spacious 2.04-acre lot, offering a well-designed layout with a drive-thru feature for added convenience. Built in 2008, the modern Class B building includes 55 parking spaces (3.73/1,000 SF ratio) and 161 feet of frontage along Carroll Creek Road, ensuring ease of access and ample customer capacity.
Long-Term Stability: With 8.5 years of firm lease term remaining, this property provides a reliable income stream for investors seeking durability and consistency in a dynamic market.
Tennessee Tax Advantage: Located in a state with no income tax, this investment offers enhanced financial benefits, maximizing returns by minimizing tax burdens for owners.
Strong Demographics and Economic Growth: Positioned within a 3-mile radius of 23,951 residents and a 10-mile radius of 164,610, the property serves a growing population with a projected annual growth rate of 0.46%-1.11% through 2027. Johnson City’s robust economy, fueled by East Tennessee State University and the “Med-Tech” corridor, further solidifies its status as a regional economic powerhouse.
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