Net Leased Retail
For Sale
Contact for pricing
1493 Madison St, Clarksville, TN 37040
Long-term net leased drugstore property is 100% leased to Rite Aid Corporation.
Property Size11,304 SF
Lot Size1.53 Acres
Days on Market120
Property Features for 1493 Madison St
General Information
Standard status
Active
Size
11,304 SF
Lot size
1.53 Acres
Property subtype
Retail
Occupancy
100%
Building Details
Year Built
1998
Tenancy
Single
Listing Agency:
Transwestern Houston
Listed By:
Andrew Watson · License #IL 475136758
Source:
Crexi
Added: Apr 12
Changed: Aug 8
Last Checked: Jul 23 at 1:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Transwestern Houston
Investment Insights
Based on property information with market context.
This fee simple offering is 100% leased to Rite Aid Corporation under a lease that commenced in January 1998. The lease features a 20-year primary term and four additional five-year tenant options to extend. Rent increases by $5,454 every five years during the option periods.
The property sits at the northeast corner of Madison Street and Liberty Parkway in Clarksville, Tennessee, on a major thoroughfare. It is located down the road from Austin Peay State University and benefits from premium sight lines and access.
Developed in 1998, the site includes 1.53 acres of land improved with an 11,304-square-foot building.
The property sits at the northeast corner of Madison Street and Liberty Parkway in Clarksville, Tennessee, on a major thoroughfare. It is located down the road from Austin Peay State University and benefits from premium sight lines and access.
Developed in 1998, the site includes 1.53 acres of land improved with an 11,304-square-foot building.
Key Highlights
- Fee simple long‑term net leased property in Clarksville, TN: 100% leased to Rite Aid Corporation.
- Lease commenced January 1998 with a 20‑year primary term and four additional five‑year tenant options to extend.
- Rent increases by $5,454 every five years during the option periods.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,625
Businesses Nearby
13k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 63%
Hotels & Casinos 30%
Home Improvements & Furnishings 6%
Dollar General
Shops & Services
5,209 visits/mo
0.1 miles
DoubleTree by Hilton
Hotels & Casinos
4,059 visits/mo
0.4 miles
Enterprise Rent-A-Car
Shops & Services
1,908 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
1,451 visits/mo
0.4 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
866 visits/mo
0.3 miles
Demographics for 37040, TN
60,382
Population
24,628
Households
2.5
Avg Household Size
31
Median Age
30%
College-Educated
94%
High-School Grad
92.8 sq mi
ZIP Area
651
Density / Sq Mi
$65,331
Median Household Income
$40,621
Median Earnings
$1,177
Median Rent
$242,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drug store - Long-term net leased drugstore property is 100% leased to Rite Aid Corporation.
Where is this drug store located?
The property is located at 1493 Madison St Clarksville, TN.
What are key features of this property?
This property features: Fee simple long‑term net leased property in Clarksville, TN: 100% leased to Rite Aid Corporation.; Lease commenced January 1998 with a 20‑year primary term and four additional five‑year tenant options to extend.; Rent increases by $5,454 every five years during the option periods.
