1011 Highway 411Etowah, TN 37331

Property Details for 1011 Highway 411

Lot size

0.94 AC

Property size (Sq ft)

2,502 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple, Class A, 2,502 square foot Walgreens located at 1011 Hwy 411, Etowah, TN 37331. The property boasts a strong 6.15% cap rate and a substantial $125,000 annual net operating income (NOI). Secured by a corporate guarantee, the absolute NNN lease features a 10-year term commencing October 1, 2023, with a remaining term of 8.9 years and four 5-year renewal options. Rent increases of 5% every five years are built into the lease. Strategically positioned across from Starr Regional Medical Center, this newly constructed, drive-through prototype store benefits from high visibility on Highway 411 N (12.9K VPD) and enjoys a dedicated left-turn lane. The 0.94-acre lot offers ample space, and an additional 0.5-acre parcel is available for purchase. This is a turnkey investment with minimal landlord responsibilities, offering a compelling combination of strong tenant, location, and lease terms. The property's proximity to the hospital significantly boosts pharmaceutical sales. This is a rare opportunity to acquire a high-performing Walgreens in a prime location with significant long-term growth potential.

Location Insight

City

Etowah

County

McMinn

State

Tennessee

Latitude

35.3445

Longitude

-84.5206

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