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Walgreens 8035 E Shelby Dr 14,490 SF Retail Building Memphis, TN 38125 $3,662,500 ($252.76/SF) 8% Cap Rate
Investment Highlights
- Absolute Net Lease | Zero Landlord Responsibilities
- Corporate Guarantee | 6.2% Revenue Growth for Fiscal Year Ending 8/31/24 Reaching 147.7 Billion
- Hard Corner Signalized Intersection Location - Situated a the Intersection of E. Shelby Drive & Hacks Cross Road, Benefiting from 77,488 Cars per day
- Long Term Operating History | Tenant Has Served This Community for 23+ Years
- Prototype Walgreens Store Format with Drive-Thru
- Dense Affluent Demographics Average Household Incomes are $90,000+ within a 1-Mile Radius, with a Population in Excess of 145,000 People in 5-Mile
Executive Summary
Absolute Net Lease | Zero Landlord Responsibilities
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,490 SF
Building Class
B
Year Built
2002
Price
$3,662,500
Price Per SF
$252.76
Cap Rate
8%
NOI
$293,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.66 AC
Zoning
AG
Parking
75 Spaces (5.18 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Signage
- Signalized Intersection
- Drive Thru
Property Taxes
| Parcel Number | D0-256-0-0332 | Improvements Assessment | $348,720 |
| Land Assessment | $451,280 | Total Assessment | $800,000 |
Property Taxes
Parcel Number
D0-256-0-0332
Land Assessment
$451,280
Improvements Assessment
$348,720
Total Assessment
$800,000
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Walgreens | 8035 E Shelby Dr
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