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Single-Tenant Vacant-User

Dark Walgreens NNN Lease

1106 N Main St, Crossville, TN 38555

Listing Price: $2,420,833

Cap Rate
9.00%
Tenant Name
Vacant
Years Remaining On Lease
2.8
Gross SF
13,824
Guarantor
Corporate Guarantee
Rentable SF
13,824
Price/Gross SF
$175.12
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$15.76

Investment Overview

Marcus & Millichap is pleased to present for sale this former Walgreens
located at 1106 North Main Street in Crossville, Tennessee. Walgreens
is currently paying rent until June 2024. The property is a large 14,149
Square Foot Building on 1.83 Acres of Land. Crossville has a population
of over 10,975 and is only a one hour drive to Knoxville and one hour and
twenty minutes from Nashville Via I-40. Crossville is considered a central
hub between the major metropolitans of Nashville and Chattanooga.
This property is located only 5 minutes from Cumberland Medical Center,
an acute care facility with 189 beds. It is also a short 12 minute drive
from the University of Tennessee with over 28,321 students, 10 minutes
from Roane State Community College with over 1,000 enrolled students
and 8 minutes from Tennessee Tech College with 314 students.
Just across the street from this property is Flowers baking Company
of Crossville, Tennessee LLC., which is part of the Bakery Products
manufacturing Industry. There are 125 employees at this location.
Blackberry Ridge Estates is a brand- new luxury duplex community with
over 70 rented luxury duplexes. The same developer of Blackberry Ridge
is planning a new home community nearby called Crossroads Village
and it will have 49 brand new lots available for new home construction.
This property is located only minutes from Fairfield Glade Community, a
master-planned housing community located on 12,000 sprawling acres
in Crossville, TN and upon completion it will have 12,000 residences.
This resort style community offers homes in all styles and price ranges.

Investment Highlights

  • Walgreens Backed Absolute NNN Lease with Expiration in June 2024
  • Excellent Income Producing Redevelopment Opportunity
  • Large 14,149 Square Foot Building on 1.83 Acres of Land
  • Hard Corner Signalized Intersection with More than 36,600 Vehicles Per Day
  • Across the Street from Flowers Baking Company with More than 125 Employees
  • Crossville is Considered a Central Hub Between the Major Metropolitans of Nashville

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Single-Tenant Vacant-User

Dark Walgreens NNN Lease

Listing Price: $2,420,833

Cap Rate
9.00%
Tenant Name
Vacant
Years Remaining On Lease
2.8
Gross SF
13,824
Guarantor
Corporate Guarantee
Rentable SF
13,824
Price/Gross SF
$175.12
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$15.76

Investment Highlights

  • Walgreens Backed Absolute NNN Lease with Expiration in June 2024
  • Excellent Income Producing Redevelopment Opportunity
  • Large 14,149 Square Foot Building on 1.83 Acres of Land
  • Hard Corner Signalized Intersection with More than 36,600 Vehicles Per Day
  • Across the Street from Flowers Baking Company with More than 125 Employees
  • Crossville is Considered a Central Hub Between the Major Metropolitans of Nashville

Investment Overview

Marcus & Millichap is pleased to present for sale this former Walgreens
located at 1106 North Main Street in Crossville, Tennessee. Walgreens
is currently paying rent until June 2024. The property is a large 14,149
Square Foot Building on 1.83 Acres of Land. Crossville has a population
of over 10,975 and is only a one hour drive to Knoxville and one hour and
twenty minutes from Nashville Via I-40. Crossville is considered a central
hub between the major metropolitans of Nashville and Chattanooga.
This property is located only 5 minutes from Cumberland Medical Center,
an acute care facility with 189 beds. It is also a short 12 minute drive
from the University of Tennessee with over 28,321 students, 10 minutes
from Roane State Community College with over 1,000 enrolled students
and 8 minutes from Tennessee Tech College with 314 students.
Just across the street from this property is Flowers baking Company
of Crossville, Tennessee LLC., which is part of the Bakery Products
manufacturing Industry. There are 125 employees at this location.
Blackberry Ridge Estates is a brand- new luxury duplex community with
over 70 rented luxury duplexes. The same developer of Blackberry Ridge
is planning a new home community nearby called Crossroads Village
and it will have 49 brand new lots available for new home construction.
This property is located only minutes from Fairfield Glade Community, a
master-planned housing community located on 12,000 sprawling acres
in Crossville, TN and upon completion it will have 12,000 residences.
This resort style community offers homes in all styles and price ranges.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

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