Cap Rate: 6.35%
Net Operating Income: $267,096
Square Footage: 14,820
Lot Size: 1.80 AC
Year Built: 2005
The subject property is a 14,206 SF building, leased to Walgreens (WBA) on an absolute NNN lease. The tenant has 10 years remaining on the initial term. The lease calls for zero landlord obligations. The asset is well located in Lewisburg, TN just 50 miles from Nashville. The site is well positioned on a major commercial thoroughfare and receives over 13,000 VPD along Nashville Highway. Neighboring tenants include AutoZone, Pizza Hut, Dairy Queen, Dollar General, and many others. This Walgreens also benefits from its close proximity to Marshall Medical Center which is just 0.4 miles away.
Lewisburg is a city in, and the county seat of Marshall County, Tennessee, United States. The population was 11,100 in 2010. Lewisburg is located in Middle Tennessee, fifty miles south of Nashville and fifty-two miles north of Huntsville, Alabama. Residents have access to the larger cities via nearby I-65.
Located among rolling hills, Lewisburg was named for the explorer Meriwether Lewis. By 1838, the town was supporting a newspaper and a bank. The downtown area is similar to many other small southern towns, with a courthouse on a square, surrounded by retail and commercial businesses. Shopping centers are located on the east and west ends of town.