4210 Roan StJohnson City, TN 37601

Property Details for 4210 Roan St

Year built

2009

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.93 AC

Property size (Sq ft)

15,180 SF

Property type

Other commercial real estate

APN

029F C 04100

APU

029FC04100

Description

This exceptional investment opportunity presents a 14,820-square-foot Walgreens pharmacy, situated on a 1.93-acre lot in Johnson City, Tennessee. The property boasts a highly desirable absolute NNN lease with Walgreens, a leading national pharmacy chain, ensuring minimal landlord responsibilities. The lease, commencing April 6, 2009, has a remaining term of 59.5 years, extending to April 30, 2084, providing exceptional long-term stability and predictable cash flow. The property's strategic location at the signalized intersection of N Roan Street and Carroll Creek Road offers excellent visibility and accessibility, benefiting from a combined daily traffic count exceeding 20,800 vehicles. The property is surrounded by a robust retail environment, including major national brands such as Walmart, Sam's Club, Home Depot, Lowe's, and numerous other retailers. The asking price is $5,472,000, representing a compelling cap rate of 6.25% and a price per square foot of $369.23. The property generates a net operating income (NOI) of $342,000 annually. The building includes a drive-thru for added convenience. This investment offers a rare opportunity to acquire a high-performing, long-term net lease property with a blue-chip tenant in a thriving retail corridor. The property's strong fundamentals, coupled with the tenant's financial strength and long-term commitment, make this an attractive investment for discerning buyers seeking stable, passive income. The property's address is 4210 N Roan St, Johnson City, TN 37601, and the APN is 090029F C 04100.

• Alternative Use

  Use

  Valuation

  Residential

  $3,352,936

  Hospitality

  $3,071,271

  Educational

  $2,555,262

  Medical

  $2,643,141

  Retail

  $3,974,851

Location Insight

City

Johnson City

County

Washington

State

Tennessee

Latitude

36.3778

Longitude

-82.4068

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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