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Walgreens 805 W Madison Ave 14,764 SF Retail Building Athens, TN 37303 $3,299,999 ($223.52/SF) 8.03% Cap Rate
Investment Highlights
- Over 11,000 vehicles per day
- NNN lease with 10 - 5 year options
Executive Summary
25 year NNN lease with 10 - 5 year options. This Walgreens in Athens, Tennessee opened in 2005 with a 25 year corporate guaranteed lease. Athens is the county seat of McMinn County. The Athens metro has over 50,000 residents. Athens is located in the southeast part of Tennessee between Chattanooga, TN and Knoxville, TN. The yearly rental income is $265,000. The CAP is 8.03% with a sales price of $3,299,999. The 14,550 square foot building sits on 1.64 +- acres. There are over 11,000 vehicles per day in front of the store. If you have any questions or need anything, please just let me know. If you are interested in this store, please get me something in writing and let me see what I can do!
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
14,764 SF
Building Class
B
Year Built
2005
Price
$3,299,999
Price Per SF
$223.52
Cap Rate
8.03%
NOI
$265,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.64 AC
Zoning
C1 - Commercial
Parking
64 Spaces (4.33 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 065C-C-001.00 | Improvements Assessment | $490,480 |
| Land Assessment | $176,240 | Total Assessment | $666,720 |
Property Taxes
Parcel Number
065C-C-001.00
Land Assessment
$176,240
Improvements Assessment
$490,480
Total Assessment
$666,720
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LHT Commercial Real Estate
Walgreens | 805 W Madison Ave
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