Walgreens 2340 Highway 394 14,703 SF Retail Building Blountville, TN 37617 $3,556,800 ($241.91/SF) 6.25% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property positioned within the Kingsport MSA in Blountville, Tennessee. Walgreens has been successfully operating from this location since 2006 and recently extended the lease through 2035, demonstrating commitment. The lease is absolute triple net, presenting no landlord responsibilities. Additionally, there are 5% rental escalations throughout the term and twelve 5-year renewal options. The property is also positioned on a large 2+ acre lot.
The 14,703 square-foot building is located along Tennessee Highway 394 which experiences 18,600 vehicles per day and is ?ve minutes east of Interstate 81 (39,000 VPD). The property bene?ts from its proximity to Bristol Motor Speedway, the renowned NASCAR short track that draws hundreds of thousands of visitors to the area annually. Nearby retailers include Food Lion, McDonald’s, Fast Pace Health, Taco Bell, O’Reilly Auto Parts, and several others. The trade area includes more than 99,000 residents within a ten-mile radius, with average household incomes exceeding $89,000 within ?ve miles.
Walgreens is an American pharmacy and retail chain founded in 1901 by Charles R. Walgreen Sr. in Chicago, Illinois, starting as a single drugstore on the city’s South Side that emphasized quality prescriptions, customer service, and innovations like the malted milkshake. Over the decades, it expanded rapidly across the United States, becoming the second-largest pharmacy chain with approximately 8,100 stores nationwide as of 2025, offering prescription services, health and wellness products, photo services, and everyday essentials.