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Walgreens: Portland, TN 104 Hwy 52 W 12,500 SF Retail Building Portland, TN 37148 $2,445,400 ($195.63/SF) 7.50% Cap Rate
Investment Highlights
- Absolute NNN Lease | Recently-Extended Through 2038 | Eleven, 5-Year Renewal Options
- Top Visited Location | #1 Walgreens Location Within a 15-Mile Radius (Placer.ai)
- Within a Heavy Industrial Corridor (7.6 MSF)
- Located at the Signalized Interchange of TN-52 (12,878 VPD) and South Broadway (20,834 VPD)
- Surrounded by Retail Synergies | Tractor Supply Co., Food Lion, Family Dollar, Dollar General, Ace Hardware, O'Reilly Auto Parts, etc.
- Nashville MSA Advantage (MSA Population: 2.19M+)
Executive Summary
CBRE is pleased to offer for sale the 12,500-square-foot Walgreens positioned on 1.10 acres in Portland, TN -- part of the Nashville MSA (MSA Population: 2.19M+). Originally set to expire in 2034, Walgreens’ absolute NNN lease was extended through 2038 and now features ±12.3 years of primary term remaining with eleven, 5-year options to renew.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
12,500 SF
Building Class
B
Year Built
2008
Price
$2,445,400
Price Per SF
$195.63
Cap Rate
7.50%
NOI
$183,402
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
1.10 AC
Opportunity Zone
Yes
Zoning
C-2 - Commercial Services Zoning
Parking
51 Spaces (4.08 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 033I-C-004.00 | Improvements Assessment | $458,840 |
| Land Assessment | $442,480 | Total Assessment | $901,320 |
Property Taxes
Parcel Number
033I-C-004.00
Land Assessment
$442,480
Improvements Assessment
$458,840
Total Assessment
$901,320
Contacts
-
Brian Pfohl -
Thomas Carr -
Christopher Bosworth -
Katie Goldberg -
John Lamberson -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
CBRE
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Walgreens: Portland, TN | 104 Hwy 52 W
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