Walgreens 2412 W State St 13,824 SF Retail Building Bristol, TN 37620 $3,830,616 ($277.10/SF) 6.65% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located within the Kingsport MSA in Bristol, Tennessee. Walgreens has successfully operated at this location since 1999 and recently extended the lease through August 2035. The lease features 5% rental escalations every five years throughout the remaining term and twelve 5-year renewal options. Additionally, the lease is absolute triple net and features zero landlord responsibilities.
The 14,969-square-foot building is located at the signalized intersection of West State Street and Highway 11, which together see over 25,800 vehicles per day. It is also easily accessible from Interstate 81, which carries 46,000 vehicles daily. The property is within walking distance of the Hard Rock Hotel & Casino—the only casino within a 100+ mile radius—offering strong regional draw. Nearby national retailers include Kroger, Verizon, McDonald’s, Dollar Tree, Toyota, Hyundai, Goodwill, Sonic, and more. The surrounding area is home to over 50,000 residents within a five-mile radius, with an average household income exceeding $72,000.
Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc., a global leader in retail pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing of every community in America. Operating more than 8,100 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services.