Memphis, TN

Price: $ 4,000,000
CAP Rate: 8.75%
Lease Term Remaining Before Options: 4 Years
Investment Highlights
  • 20+ year operating history of being a solid performing location with strong front end reported sales volumes that have been trending upwards.
  • Absolute net lease with no landlord responsibilities whatsoever.
  • Dense residential area with nearly 200,000 residents within a 5-mile radius.
  • One mile south of Hwy. 385 (±151,399 VPD) and two miles southeast of I-240 (±180,699 VPD) making Downtown Memphis just a 15 minute drive away.
  • Busy intersection with approximately 54,087 vehicles per day.
  • Saint Francis Hospital Memphis is about 3 miles south with 479 beds and approximately 3,500 medical and administrative staff.
  • Located 7.6 miles from Memphis International Airport hosting over 4.3 million passengers and 8.9 billion pounds of cargo annually.
  • FedEx Express Global Hub is located in Memphis and employs over 11,000 people.
  • BNSF Intermodal facility accommodates over 1M container lifts per year for distribution centers in the region for Amazon, Nike, Ford, Frito Lay, Coca Cola, Staples and Home Depot.
Offering Summary

Pharma Property Group is pleased to exclusively market for sale a single tenant Walgreens property located in the heart of the Memphis Metropolitan Statistical Area. Walgreens has been operating at this location for over 20 years and has strong front end reported sales volumes that have been trending upwards.

This is a true absolute NNN lease with no landlord responsibilities whatsoever with approximately 4 years remaining on the lease term and 10 (5-year) options to extend.

The subject property is located a short drive from Downtown Memphis and is at the northwest corner of a busy intersection with approximately 54,087 vehicles per day. Saint Francis Hospital Memphis is about 3 miles south, has 479 beds and employs approximately 3,500 medical and administrative staff.

Memphis has a strong regional employment center because of its access to the Mississippi River and central location in the Southeast United States. Memphis is home to the FedEx Express Global Hub that employs over 11,000 people near the Memphis International Airport that is located just 7.6 miles west of the subject property. This airport hosts over 4.3 million passengers and transfers over 8.9 billion pounds of cargo annually from distribution centers in the region for Amazon, Nike, Ford, Frito Lay, Coca Cola, Staples and Home Depot.

Price: $ 4,000,000
CAP Rate: 8.75%
Lease Term Remaining Before Options: 4 Years