Walgreens
2,502 SF | Retail Building | Etowah, TN 37331 | $2,035,000 ($813/SF) | 6.14% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,035,000
- Property Type
-
Retail
- Square Feet
- 2,502 SF
- Price / Square Foot
- $813
Listing Contacts
Eric Carlton
Verified Profile
Jereme Snyder
Verified Profile
Jim Morris
Verified Profile
- Property Info
Property Overview
The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to purchase a single tenant Walgreens Cooper in Etowah, TN. Walgreens Cooper, a small format pharmacy concept, is subject to a new 10-year absolute NNN lease with four 5-year option periods, rental increases in options three and four and zero landlord responsibilities making this asset ideal for an investor seeking years of passive cash flows.
The newly constructed 2,502 SF building with drive-thru on 0.98-acre parcel is strategically located along Highway 411 (12,900 VPD) and is directly opposite Starr Regional Medical Center. Additional value can be derived from half an acre of excess land which is separately parceled and ready for development. Nearby retailers include Fast Pace Health Urgent Care, DaVita Dialysis, Food City, McDonald’s, Hardees, Waffle House, Circle K, Dollar General, Family Dollar, Dollar Tree and Auto Zone.
This is an excellent opportunity to own a brand new absolute NNN leased Walgreens Cooper between Chattanooga and Knoxville Tennessee with no landlord responsibilities and a corporate guaranty providing years of worry-free income.
The newly constructed 2,502 SF building with drive-thru on 0.98-acre parcel is strategically located along Highway 411 (12,900 VPD) and is directly opposite Starr Regional Medical Center. Additional value can be derived from half an acre of excess land which is separately parceled and ready for development. Nearby retailers include Fast Pace Health Urgent Care, DaVita Dialysis, Food City, McDonald’s, Hardees, Waffle House, Circle K, Dollar General, Family Dollar, Dollar Tree and Auto Zone.
This is an excellent opportunity to own a brand new absolute NNN leased Walgreens Cooper between Chattanooga and Knoxville Tennessee with no landlord responsibilities and a corporate guaranty providing years of worry-free income.
Property Details
- Class
- B
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Freestanding, Drug Store
- Lot Size (sq. ft)
- 42,689 SF
Highlights
- Brand New 10 Yr. Abs. NNN Corp. Lease by Walgreens Boot Alliance - (NASDAQ: WBA)
- High Profile Location in Center of Medical Corridor - Across from Starr Regional Medical Center
- 2nd Largest Pharmacy Store Chain (Duane Reade) - 8701+ Locations in 50 States/8 Countries
- Rare Value Add Development Opportunity - Separate PAD Available Next Door (.50 Acres)
- Strategic Suburb of Chattanooga/Knoxville - Tax Fee State - Huge Population Growth!
- New Drivethru Pharmacy “Cooper” Prototype with High Margin Store Goods - Bite Size Deal
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