Walgreens

  • NNN (Triple net)
Knoxville, TN
Location: Tennessee


Offering Memorandum
  • Building Size: sq/ft
  • Cap Rate: 7.00 %
  • Status: Available
$7,557,000.00

Property Information

  • Type: Pharmacy
  • Net Operating Income : 529,000
  • Lot Size : 1.52
  • Year Built : 2000
  • Building Size : 14,112
  • Cap Rate : 7.00
  • Status : Available

Investment Overview

TFG of Marcus & Millichap is pleased to offer the exclusively listed Walgreens located at 5320 Clinton Highway inĀ  Knoxville, Tennessee. The 14,112-square foot pharmacy was built in 2000 and is situated on 1.52 acres of land. Located on a busy hard corner intersection with over 51,000 average vehicles per day. This locations reports above average reported sale. Walgreens extended the lease for over 12-years back in 2015 showing long-term commitment to this location. Knoxville is among the ten fastest-growth U.S. cities with the best employment outlook in the country providing robust growth for years to come.

Walgreens Boots Alliance, Inc., together with its subsidiaries, operates a network of drugstores in the United States. It provides consumer goods and services, pharmacy, and health and wellness services through drugstores, as well as through mail, and by telephone and online. The company sells prescription and non-prescription drugs; and general merchandise, including convenience and fresh foods, household items, personal care, photofinishing and candy, and beauty care. It also provides specialty pharmacy services for managing complex chronic health conditions; customers infusion therapy services consisting of administration of intravenous medications for center treatments, chronic pain, heart failure, and other infections and disorders; and clinical services, such as laboratory monitoring, medication profile review, nutritional assessments, and patient and caregiver education. In addition, the company manages in-store convenient care clinics (Healthcare Clinics). As of August 31, 2016 it operated 7,175 locations in 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. The company also managed approximately 400 healthcare Clinics and provider practice locations. The company was founded in 1901 and is based in Deerfield, Illinois.

Knoxville, Tennessee, is the county seat of Knox County. The city had an estimated population of 186,239 in 2016 and a population of 178,874 as of the 2010 Census, making it the state’s third largest city after Nashville and Memphis. Knoxville is the principal city of the Knoxville Metropolitan Statistical Area, which had a population of 868,546 in 2016. Knoxville is the home of the flagship campus of the University of Tennessee, whose sports teams, call the “Volunteers” or “Vols” are extremely popular in the surrounding area. Knoxville is also home to the headquarters of the Tennessee Valley Authority, the Tennessee Supreme Court’s courthouse for East Tennessee, and the corporate headquarters of several national and regional companies.

Investment Highlights

NN Lease to Walgreens through 12/2026
Walgreens Corporate Guarantee
Minimal Landlord Responsibilities

Facilities

Share this property:


Contact Agent

Geoff Ficke

First Vice President Investments Director, Net Leased Properties National Office and Industrial Properties

License: TX 0593051

Dylan Holmes

Pharmacy Specialist Net Leased Properties

License: 674182

Nicole Patel

Associate Directory / Capital Markets Specialist

Jody McKibben

BOR

License: TN 307629