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7994 US Highway 51 North
Millington, TN 38053
Walgreens: Millington, TN · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Brand new 15-year NNN lease commenced in February 2025 and features 5% rent increases every 5 years and in each of the twelve, 5-year renewal options.
- 2.3 MSF of retail, 1.1 MSF of industrial, and 1,796 multifamily units within a 5-mile radius.
- Positioned on a hard corner at the signalized intersection of Easley Street (5,963 VPD) and US Highway 51 (20,563 VPD)
- Surrounded by 2,223 households within a 1-mile radius, placing a substantial built-in customer base within walking distance of the site.
EXECUTIVE SUMMARY
CBRE is pleased to exclusively offer for sale the 14,560-square-foot Walgreens situated on 1.81 acres in Millington, TN - a component of the Memphis, TN MSA (Population: 1.34M+).
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,560 SF
Building Class
B
Year Built
2005
Price
$4,523,200
Price Per SF
$310.66
Cap Rate
6.25%
NOI
$282,700
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.81 AC
Opportunity Zone
Yes
Zoning
B-2
Frontage
200’ on US-51 N
AMENITIES
- Signalized Intersection
- Drive Thru
- Monument Signage
PROPERTY TAXES
| Parcel Number | M0-115-0-0920 | Improvements Assessment | $648,960 |
| Land Assessment | $286,280 | Total Assessment | $935,240 |
PROPERTY TAXES
Parcel Number
M0-115-0-0920
Land Assessment
$286,280
Improvements Assessment
$648,960
Total Assessment
$935,240
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