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Views: 78 DOM: 205 Updated: 08.09.24 Posted: 02.15.24 Status: Active

Summary

Price $5,685,000
Built/Renov 1983
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,751
Lease Start 09-01-2022
#Units 13,532
Price/SF $385.40
Expiration 08-31-2035
Tenant Type Pharmacy
NOI $340,860
R. Term 10.12
Ownership Fee Simple
Rent/SF $23.11
Increases 5.0%/3/yrs
Pop 5Mi 109,050
Lot/AC 1.72
Options 12/5yrs/5%
AHHI 5Mi $48,639

Lease Highlights

  • Walgreens has 11+ years remaining on the current lease term with 12 (5-year) options to extend
  • The lease features 5% rental increases every 5 years throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Capital Circle and West Tennessee Street, with access to a combined robust daily traffic count of 55,500 vehicles. The property enjoys a prime location directly across from a Walmart Supercenter anchored center. Surrounding the immediate trade area are well-known national tenants such as McDonald’s, Ross Dress...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 3,310 47,623 117,744
2023 Total Population : 3,166 47,373 116,481
2023 Employed Civilian Pop : 1,395 26,611 60,629
2023 Total Businesses : 367 1,513 5,310
2023 Average Household Income : $ 48,054 $ 59,006 $ 58,253
2023 Total Consumer Spending : $ 56 M $ 1041 M $ 2448 M
2023 Median Age : 30 25 25
2023 Total Households : 1,304 19,880 47,501
2023 Pop Age 25+: Bachelor's Degree : 438 5,479 13,770
2023 Average Home Value : $ 191,444 $ 203,041 $ 233,702
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Capital Cir NW Car City Dr 2011 20,000 0.08 mi
W Tennessee St Tennessee Capital Blvd 2011 21,000 0.17 mi
Capital Cir NW Tennessee Capital Blvd 2011 28,000 0.19 mi
Capital Circle Northwest Swamp Fox Rd 2022 35,500 0.21 mi
Capital Circle Northwest Tennessee Capita 2021 33,500 0.21 mi
W Tennessee St Capital Cir NW 2011 25,500 0.24 mi
Capital Circle Northwest Shuler Rd 2021 26,000 0.31 mi
Capital Circle Northwest Commonwealth Blvd 2022 26,000 0.32 mi
Tennessee Capital Blvd W Tennessee St 2011 3,677 0.33 mi
West Tennessee Street Tennessee Capita 2022 23,500 0.35 mi

Listing Broker

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