For Sale
$6,575,000

2500 Gallatin AveNashville, TN 37206

High-yield, NNN-leased Walgreens

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 14,560-square-foot Walgreens situated on a 1.67-acre lot at 2500 Gallatin Ave, Nashville, TN 37206. The property boasts a prominent location on a signalized corner with over 136 feet of frontage on Gallatin Avenue, a major retail corridor extending over 30 miles. Built in 2003, this single-tenant, absolute triple-net (NNN) leased property features a Walgreens tenant with a lease commencement date of March 3, 2003, and an expiration date of September 30, 2028, representing a remaining lease term of approximately 3.9 years. The lease includes options to terminate every 5 years, with a full lease term expiring September 30, 2078. The property offers a compelling 5.65% cap rate and a net operating income (NOI) of $371,346, with an asking price of $6,575,000 ($451.58 per square foot). The high-density area surrounding the property includes a mix of national and local tenants, and benefits from a population exceeding 220,000 within a 5-mile radius and a daily traffic count of 26,220 vehicles on Gallatin Avenue. This presents a strong investment opportunity in a thriving Nashville neighborhood, minutes from downtown. The property is not subject to a ground lease.

Highlights

  • Highly desirable Nashville neighborhood.
  • Minutes from Downtown Nashville.
  • 1.67-acre lot on a signalized corner with high visibility.
  • Absolute triple-net (NNN) lease.

Property Details for 2500 Gallatin Ave

Property type
Retail properties, Drug stores
Square Feet
14,560 SF
Year Built
2003
Lot Size (sq. ft)
72,745 SF

Location Insight

City
Nashville
County
Davidson
State
Tennessee
Latitude
36.194948179866
Longitude
-86.743259438153
2500 Gallatin Ave, Nashville, Tennessee

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2500 Gallatin Ave
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