Walgreens Nashville, Tennessee

$6,725,000
Cap Rate: 5.66%
Available
Property type: Single-Tenant Net Lease

2421 Lebanon Pike
Nashville, TN 37214

Investment Highlights

  • Strong Annual Store-Sales
  • 25-Year, Absolute Triple Net (NNN) Lease with 11+ Years Remaining
  • No Landlord Responsibilities
  • 10, Five-Year Renewal Options
  • Surrounding National Retailers Include Publix, Kroger, Anytime Fitness, Marshalls, Target, Kohl’s, AutoZone, McDonald’s, Pizza Hut and Many More

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Walgreens located in Nashville, TN. Walgreens offers a 25-year, absolute triple net lease with 11+ years remaining and 10, five-year renewal options. The subject property consists of a 13,676-square foot free-standing building, situated on a 1.69-acre parcel. Walgreens offers a Corporate Tenant with a Corporate Guarantee. Walgreens Boots Alliance, Inc. is a publicly traded company (NASDAQ: WBA) and the second largest drugstore chain in the United States with over 8,000+ locations and sales volume of approximately 117.35 Billion.

Walgreens is ideally situated with excellent access and visibility on a hard corner at the signalized intersection of Lebanon Pike and McGavock Pike (Combined Traffic Count: 41,752 VPD), two of the areas heaviest traveled arteries just 0.5 miles east of Briley Parkway (Traffic Count: 74,820 VPD). Walgreens is on a primary retail and commercial corridor there is 3.2 MSF of retail, 7.6 MSF of industrial and 5.2 MSF of office space within a 3-mile radius. Surrounding national retailers including Publix, Kroger, Anytime Fitness, Marshalls, Target, Kohls, AutoZone, McDonalds, Pizza Hut and many more. 

Located in the well-established suburban community of Donelson which is 6 miles east of downtown Nashville. Donelson has strong demographics with an average income of $50,749, a population exceeding 103,770 individuals and an average housing value of $193,067.  Walgreens is minutes from some of the areas top attractions.  Two Rivers Mansion (1.5 miles), Two Rivers Golf Course (1.6 miles), 1.2 MSF Opry Mills Mall (3.5 miles), 172-acre Opryland Resort & Convention Center (3.5 miles), the Grand Ole Opry (4 miles), Nashville International Airport (4 miles), Percy Priest Lake (4.5 miles) and Nashville, the subject property’s location is exceptional.

Nashville is a bustling city (MSA Population: 1.72 million) known for its country music industry, new and old classic restaurants, shopping, entertainment studios and a major business center in the southeast.

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