2708 New Salem Hwy - Drug Store FOR SALE


Murfreesboro, TN 37128
$5,410,000 USD
615-429-0661
2708 New Salem Hwy, Murfreesboro, TN for Sale
$5,410,000 USD
Drug Store - FOR SALE
1/4
null | 5.86% Cap Rate

2708 New Salem Hwy
Murfreesboro, TN 37128


HIGHLIGHTS

  • Absolute NNN Lease with 9.5 years of primary term remaining
  • Directly across from St Thomas Medical Partners
  • No Income Tax State

OVERVIEW

Centennial Retail Services is pleased to present an excellent opportunity to acquire a Walgreens Pharmacy located in one of the fastest growing markets in the Nashville, middle Tennessee MSA. The property is located at 2708 New Salem RD, Murfreesboro, TN and features an absolute NNN lease with Zero Landlord responsibilities. 9.5 years remain on the original 25 year lease term. With options, the lease goes through July 31, 2083. This property benefits investors by being located in a No state income tax state giving owners an extra yield. Over the next 5-years the immediate trade area is projected to continue to explode in growth. The population growth is projected to increase by over 15%. There is lots of new development going up around the property and New Salem Hwy. Adjacent to the property is a Publix anchored shopping center, McDonalds, Taco Bell and a new medical office building anchored by St Thomas Health. The passive income investment opportunity consist of the fee simple ownership interest in the property. The building is 14,280 square feet, and the parcel is 2.49 acres. The property sits at a signalized intersection serving two new residential communities. The traffic count is 15,693 vpd.

FOR SALE DETAILS

PRICE

$5,410,000 USD

PRICE/SF

$365 USD /SF

CAP RATE

5.86%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

74

LAND DETAILS

LAND ACRES

2.49 AC

LAND SF

108,464 SF

ZONING

CF

APN/PARCEL ID

114-002.11-000

ASK ABOUT THIS PROPERTY

Barry HardwickCentennial Retail ServicesMore Info
615-429-0661

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Barry HardwickCentennial Retail ServicesMore Info
615-429-0661

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.