Walgreens - Elizabethton

214 Broad St Elizabethton , TN 37643-2714

Walgreens - Elizabethton - retail for sale

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Overview



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
General
Property type Retail
Tenure type Sale/Purchase
Property address 214 Broad St, Elizabethton, TN 37643-2714
Land in acres 1.36
Building size 14,453  ft2
Year built 2005
Financial
Price $4,784,252
Cap rate 6.35%
Current NOI $303,800.00
Lease
Tenant's name Walgreens Company
Credit rating (S&P) BBB
Credit rating (Moody's) Ba2
Lease type NNN
Annual rent $303,800.00
Lease expiration date 04/30/2030
Remaining term 10.6Yrs

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