For Sale
$5,642,857

1081 Murfreesboro PikeNashville, TN 37217

High-Yield, Net-Leased Pharmacy

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple, single-tenant, absolute net-leased Walgreens Pharmacy (#10657) located at 1081 Murfreesboro Pike, Nashville, TN 37217. The property, built in 2007, boasts 14,490 square feet on a 1.39-acre lot. The lease with Walgreens Boots Alliance (NASDAQ: WBA) commenced June 14, 2007, and has a remaining term of approximately 7.6 years, expiring June 29, 2032, with 50 one-year options to terminate. The property generates a substantial net operating income (NOI) of $395,000, resulting in a compelling 7.00% cap rate at an asking price of $5,642,857. The property enjoys 100% occupancy and benefits from a long operating history in a high-growth market. Nashville is consistently ranked among the fastest-growing cities in the United States. This is an absolute NNN lease with no rent bumps. The building is a single-story structure. This offering presents a rare opportunity to acquire a high-performing, strategically located Walgreens in a prime Nashville location. The tenant is the second largest pharmacy store chain in the United States.

Highlights

  • Walgreens corporate guaranteed absolute net lease.
  • 8+ years remaining on lease, 2nd highest cap rate for Walgreens in Tennessee.
  • Among the highest cap rates for Walgreens in tax-free states; motivated seller.
  • $8.95M estimated 2023 gross sales; $395,000 NOI.
  • Long operating history in rapidly growing Nashville, TN (top 5 fastest-growing US city).

Property Details for 1081 Murfreesboro Pike

Property type
Retail properties, Drug stores
Square Feet
14,490 SF
Year Built
2007
Buildings
1
Stories
1
Lot Size (sq. ft)
60,548 SF
Units
1

Location Insight

City
Nashville
County
Davidson
State
Tennessee
Latitude
36.12674499
Longitude
-86.7117509
1081 Murfreesboro Pike, Nashville, Tennessee

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1081 Murfreesboro Pike
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