Fred's Pharmacy - Mount Pleasant, TN

700 N Main St
Mount Pleasant , TN 38474-1016

Fred's Pharmacy - Mount Pleasant, TN - Retail for sale

Overview


JLL is pleased to offer for sale a single-tenant Fred’s Pharmacy (the “Property” or “Asset”) located in Mount Pleasant, TN. The Property was built to Fred’s specifications in 2012 and is subject to a double-net lease with 5.5 years remaining and 3, 5-year options. The Property occupies a strategic position along Mount Pleasant’s primary retail corridor proximate to schools, the community center, and the downtown business district. Mount Pleasant is located just 58 miles southwest of Nashville, Tennessee’s largest city and a hub for development and growth. Broker of Record: Tom Hooper, TN License #: 283775

Investment Highlights



Strong Retail Positioning

The Asset is positioned along North Main Street in the undoubted premier retail corridor of Mount Pleasant. With tenants such as McDonald’s, Shell, and Dollar General all in the immediate corridor, residents of Mount Pleasant and the surrounding area are drawn to this stretch of main street for their retail and pharmacy needs.


All Mount Pleasant Community Schools are immediately across the street from the Property, allowing it to benefit from commuter traffic from across the region as well as those seeking discount retail or pharmaceutical services on their way home from school or picking up their children.


Rapidly Expanding Market

Nashville has been on of the nations most rapidly expanding markets, growing at over 100 people per day – a benchmark which few markets can tout. This growth has helped surrounding cities such as Mount Pleasant to benefit and continued growth is on the horizon. Mount Pleasant is expected to outpace the national population growth average by 50% over the next five years.


Strong Regional Saturation

§Fred’s is the fourth largest drug store chain in the nation, with approximately 300 chains across the southeast. The Company has a dominant presence in rural communities in the southeast, positioning themselves as the primary resource for discount retail and pharmaceutical services in the region. 


General
Property Type Retail
Property Subtype Single Tenant / Stand-alone
Tenure Type Sale / Purchase
Property Address 700 N Main St, Mount Pleasant, TN 38474-1016
Land In Acres 1.77
Building Size 1.77  ac
Financial
Price $1,400,000
Cap Rate 9.99%
Current NOI $139,923.00
Lease
Download Offering Memorandum

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