Dark Walgreens NNN Lease | Income Producing Redevelopment

1106 N Main St, Crossville, TN 38555, USA
$2,420,833

Description

Marcus & Millichap is pleased to present for sale this dark 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 Knoxville.
This property is located only five 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.

  • Walgreens Backed Absolute NNN Lease with Expiration in June 2024
  • Former Rite Aid which was Acquired by Walgreens and Closed Due to Walgreens Location Directly Across the Street
  • 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
  • 5 Minutes from Cumberland Medical Center, an Acute Care Facility with 189 Beds.
  • Property Located Minutes from Fairfield Glade Community a Master Planned Community with over 12,000 Residences
  • Crossville is Considered a Central Hub Between the Major Metropolitans of Nashville and Knoxville

Property Documents

  • Dark-Walgreens-Crossville-TN-om-ib
  • City: Crossville
  • State/county: Tennessee
  • Zip/Postal Code: 38555
  • Country: United States

Detail

  • Price: $2,420,833
  • Year Built: 2004

Additional details

  • CAP RATE: 9.00%
  • NOI: $217,875

Features