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Walgreens – Knoxville, TN – NN Lease

5320 Clinton Highway

Asking Price: $8,532,250
CAP Rate: 6.2%

PROPERTY HIGHLIGHTS

  • Prime retail location: Located at the signalized intersection of Clinton Hwy. and Merchant Dr. (53.5K+ combined ADT), this property is just off I-275, which gives commuters direct access to downtown Knoxville (approximately 5 miles away).
  • Established, recognized retail tenant: Walgreens has approximately 8,200 stores operating in all 50 states, as well as the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. During the first half of 2017, Walgreens saw a net earnings increase of 3.6% to $2.1B.
  • Quality, long-term NN investment opportunity: Minimal landlord expenses on quality long-term lease. 155K+ people within 5 miles of the property.
  • Located in growing metropolitan area: Knoxville is widely known as the “hidden gem” of Tennessee, and is growing both economically and culturally thanks to its close proximity to major universities (like the University of Tennesee and Vanderbilt University), the Great Smoky Mountains National Park, and the Oak Ridge National Laboratory.
  • There are no features available

$8,532,250

14,112 SF

Price:

$8,532,250

Cap Rate:

6.2%

Property Type:

Retail

Building Size:

14,112 SF

Acres Property Use:

1.52 acres

Current NOI:

$529,000

Lease Type:

NN

Remaining Term:

20 Years

Status:

Active

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Allison Kirchner

(919) 391-9902

Download Offering Memorandum
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