Walgreens - Net Lease Property for Sale
Memphis, TN
Key Investment Metrics
Price
$4,760,000
Cap Rate
6.5%
Net Operating Income
$309,480
Building Size
13963 SF
Lot Size
13,963 SF
Land Area
2.29 Acres
Remaining Term
48.2 years
Lease Expiration
09/30/2074
Lease Term
80.1 years
Lease Commencement
10/01/1994
Lease Type
Absolute NNN
Tenant Credit
Corporate Guarantee
Year Built
1995
Occupancy
100%
Tenancy
Single
Rent Increases
No
About This Walgreens Net Lease Property
This Walgreens NNN (triple net lease) property is located in Memphis, TN and represents an excellent investment opportunity for commercial real estate investors. The property features 13963 square feet of building space and was built in 1995.
With a cap rate of 6.5%, this Walgreens net lease property offers stable income potential. The asking price is $4,760,000, making it an attractive option for 1031 exchange investors seeking quality Walgreens commercial properties.
Why Invest in Walgreens NNN Properties?
- Stable Income: Walgreens net lease properties provide predictable cash flow with minimal landlord responsibilities.
- Strong Tenant: Walgreens is a nationally recognized brand with proven operational success.
- 1031 Exchange Eligible: This property qualifies for 1031 tax-deferred exchanges, allowing investors to defer capital gains taxes.
- Triple Net Lease: The tenant is responsible for property taxes, insurance, and maintenance, reducing landlord obligations.
Memphis, TN Market Overview
Located in Memphis, TN, this Walgreens property benefits from strong local demographics and market fundamentals. The Memphis area offers excellent visibility and accessibility, making it an ideal location for Walgreens operations and a solid investment for net lease property buyers.