Hard Corner Location 62K VPD | 5% Incr in Opt 3670 Riverdale Rd 13,792 SF Retail Building Memphis, TN 38115 $3,916,809 ($283.99/SF) 9% Cap Rate

We are pleased to market for sale the Walgreens property located at 3670 Riverdale Road, Memphis, TN 38115 (the “Property”). The current lease term runs through November 30, 2029, with twelve (5-year) renewal options. Walgreens operates on an absolute triple net lease, which provides for no landlord obligations whatsoever and calls for a 5% increase in the first four options. The store reports strong sales and ranks in the top 20% of Walgreens locations nationwide, according to Placer.Ai.
The Property is located in a dense retail corridor at the intersection of Riverdale Road and Winchester Road, a major east-west thoroughfare in Memphis that provides direct access to Memphis International Airport. One of the airport’s primary vehicular access bridges connects directly to Winchester Road, highlighting the road’s importance in regional transportation. The Property benefits from high visibility, with approximately 62,256 vehicles per day, and proximity to anchor tenants such as Costco, The Home Depot, Lowe’s, Walmart, Sam’s Club, Ross Dress for Less, Kroger, and Topgolf.
Memphis is a major logistics and distribution hub, supported by the global FedEx air cargo facility at Memphis International Airport, located just 8 miles from the Property. Facilities operated by companies including FedEx, Nike, Amazon, UPS, and DHL reinforce the city's economic strength and provide long-term stability for local commercial real estate.
Listed in conjunction with Brian Brockman, Bang Realty - Tennessee Inc, 513-898-1551, wg@bangrealty.com, TN DRE Lic. 343847.