Listed by Stream Capital Partners
$5,350,000
Walgreens
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,550
Cap Rate 7.34%
NOI $392,850
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens, CVS Pharmacy
Lease Type Absolute NNN
Lease Expiration 08/31/2035
Remaining Term 9.2
Rent Bumps Yes
Lease Options 12, Five-year
Price per SqFt $368
Year Built 2005
Acreage 1.910
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Retail | 7.34% CAP | 14,550 SqFt
Investment highlights
- Long Term Commitment: Absolute NNN lease structure with over 9 years remaining and 12, 5 year options to extend.
- Zero Landlord Responsibilities: Tenant operates under an absolute NNN lease structure, ensuring true passive ownership for investors.
- Walmart Outparcel: Strategically positioned as an outparcel to a high-performing Walmart Supercenter in Smyrna, the property benefits from exceptional visibility, direct access, and placement within a dominant retail corridor. The immediate area is surrounded by nationally recognized retailers including McDonald’s, Arby’s, Dutch Bros, and Popeyes, driving consistent consumer traffic and supporting long-term tenant demand.
- Affluent Surrounding Demographics: The property is located within a strong and established trade area, with average household incomes exceeding $108,000 within a 10-mile radius—supporting a high-spending consumer base and driving sustained tenant performance.
- Well-Positioned Hard Corner Location: Situated at a signalized hard corner along Nissan Drive, the property benefits from exceptional visibility, dual access points, and strong traffic exposure with over 45,300+ vehicles per day.
- Thriving Nashville MSA Growth: Located within the rapidly expanding Nashville metropolitan statistical area, the property benefits from strong population growth, robust job creation, and continued corporate relocation activity—driving long-term real estate appreciation.
- Proximity to Nissan Smyrna Plant: The property is located adjacent to the Nissan Smyrna Vehicle Assembly Plant—one of the largest automotive manufacturing facilities in the United States—employing approximately 8,000+ workers.
Listing Contacts
Listed by Stream Capital Partners
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$392,850.00
$32,737.50/mo
Valuation Metrics
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DSCR
7.34%
Cap Rate
7.34%
ROI
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