101 Charles G Seivers BlvdClinton, TN 37716

Property Details for 101 Charles G Seivers Blvd

Year built

1999

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.09 AC

Property size (Sq ft)

10,636 SF

Property type

Other commercial real estate

APN

001074J B 02801

APU

001074JB02801

Description

This fee-simple, single-tenant retail property offers a secure investment opportunity with a credit-rated CVS Pharmacy tenant under a new 10.5-year net lease. The 10,125 square foot building, constructed in 2000, features a drive-thru and is situated on a 1.09-acre lot in a prime retail location in Clinton, Tennessee, within the Knoxville MSA. The property boasts a strong average daily traffic count and benefits from significant local economic development. The lease includes 5% rent bumps in each option period, ensuring consistent income growth. The property's strong financials, including a 6.30% cap rate and a $150,000 annual net operating income (NOI), make it an attractive investment. The lease commenced December 13, 1999, and expires January 31, 2035. The building features a new roof system installed in July 2020 with a 20-year manufacturer's warranty. The property is located at 101 N Charles G Seivers Blvd, Clinton, TN 37716. The location enjoys excellent underlying demographics, including a workday population of 50,230 within a 15-minute drive time and an average household income of $83,600 within a 5-mile radius. The property benefits from the presence of major employers and significant ongoing investment in the Clinton area. The tenant, CVS Health, is an investment-grade credit tenant, ranked 6th on the Fortune 500.

• Alternative Use

  Use

  Valuation

  Residential

  $2,088,729

  Hospitality

  $1,913,265

  Educational

  $1,591,814

  Medical

  $1,646,559

  Retail

  $2,476,155

Location Insight

City

Clinton

County

Anderson

State

Tennessee

Latitude

36.0993

Longitude

-84.1315

CBSA code

28940

CBSA name

KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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