Walgreens for Sale in Memphis, TN
Memphis, TN
Key Investment Metrics
Price
$4,760,000
Cap Rate
6.5%
Net Operating Income
$309,480
Building Size
13963 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
Property overview
Walgreens in Memphis
Review the reported property and lease details, then request the supporting documents for your acquisition review.
- Building area
- 13,963 SF
- Land area
- 2.29 acres
- Year built
- 1995
- Lease type
- Absolute NNN
- Lease expiration
- 09/30/2074
Confirm current availability, pricing and lease terms through the inquiry form before relying on this listing.
Before you make an offer
Four things to verify
- 1
Lease and guaranty
Request the executed lease and amendments. Identify the legal tenant, guarantor and landlord obligations.
- 2
Income and expenses
Obtain the rent roll and operating statement supporting the advertised NOI and cap rate.
- 3
Property condition
Review survey, title, condition and environmental information relevant to this property.
- 4
Exchange requirements
For a 1031 exchange, confirm eligibility and deadlines with your qualified intermediary and tax adviser.