Walgreens - Elizabethton

Asset Type

Retail

Address
214 Broad St Elizabethton, TN United States 37643-2714
Asking Price

S$6,554,000

Sq Footage

14,453

Year Built

2005

Cap Rate

6.35%

Additional Attributes
Current / Passing Rent S$416,200
Lease Expiration 2030-04-30
Lease Type NNN
Moody's Credit Rating Ba2
Options Annual
S & P Credit Rating BBB
Tenant Walgreens Company

Property Description

Single-tenant Walgreens for sale in historic downtown Elizabethton at the intersection of Highway 321 and Lynn Avenue. The location receives high traffic as it is the only Walgreens in the city. Downtown Elizabethton is known for its antique shopping district, with a diverse collection of shops and eateries unique to the area. The neighboring town of Johnson City has over 66,000 residents and is home to East Tennessee State University, which brings in over 16,000 students annually.

Investment Highlights

  • Fee simple interest
  • Property includes an absolute NNN lease structure with over 11 years of primary term remaining
  • Lease is guaranteed by Walgreens corporate
  • Zero landlord responsibilities
  • Highly-trafficked location
Listing Contacts
Eric Suffoletto
Eric Suffoletto
EVP, Capital Markets
+65 3159 4021
IL - 475.14702
Brian Shanfeld
Brian Shanfeld
Managing Director, Captl Mkts
+65 3159 4021
IL - 475158824
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