Walgreens Absolute Net
For Sale
Contact for pricing
1359 Poplar Avenue, Memphis, TN 38104
Walgreens property on an absolute net lease with eight years remaining and multiple renewal options.
Property SizeContact for details
Days on Market123
Property Features for 1359 Poplar Avenue
General Information
Standard status
Active
Property subtype
Retail
Site & Location
Traffic Count
31,715 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Pharma Property Group
(619) 297-0055
Listed By:
Jason Pongsrikul · License #CA 01918332
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 23 at 9:02AM
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 Pharma Property Group
Investment Insights
Based on property information with market context.
This Walgreens property is offered for sale on an absolute net lease basis with eight years remaining on the primary lease term, including ten (5-year) options to follow. The income is guaranteed by Walgreens parent corporate, an investment grade Fortune 500 company.
The property is located just blocks from Memphis’s Medical District. It is positioned across the street from a Kroger shopping center and adjacent to a McDonald’s. The site sits at a signalized corner of Poplar Avenue and North Cleveland Street with a combined traffic count of 31,715 vehicles per day.
Interstate 69 is approximately three blocks west of the property, with approximately 124,706 vehicles per day noted in the remarks. The surrounding retail area includes national tenants such as Home Depot, Planet Fitness, Burger King, Advance Auto Parts, Regions Bank, Family Dollar, O’Reilly Auto Parts, and AutoZone.
The property is located just blocks from Memphis’s Medical District. It is positioned across the street from a Kroger shopping center and adjacent to a McDonald’s. The site sits at a signalized corner of Poplar Avenue and North Cleveland Street with a combined traffic count of 31,715 vehicles per day.
Interstate 69 is approximately three blocks west of the property, with approximately 124,706 vehicles per day noted in the remarks. The surrounding retail area includes national tenants such as Home Depot, Planet Fitness, Burger King, Advance Auto Parts, Regions Bank, Family Dollar, O’Reilly Auto Parts, and AutoZone.
Key Highlights
- Walgreens property on an absolute net lease with eight years remaining on the primary term and ten (5‑year) options to follow
- Lease income is guaranteed by Walgreens parent corporate (S&P BBB) Fortune 500 company with over 9,500 locations
- Location: signalized corner of Poplar Avenue and North Cleveland Street with 31,715 combined vehicles per day
Property Analytics
Property Profile
Current Use
Lease Details
31,715 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,864
Businesses Nearby
164k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 29%
Home Improvements & Furnishings 23%
Electronics 5%
The Home Depot
Home Improvements & Furnishings
36,412 visits/mo
0.2 miles
7 Brew Coffee
Dining
14,264 visits/mo
0.5 miles
MAPCO Mart
Shops & Services
12,391 visits/mo
0.1 miles
Circle K
Shops & Services
11,966 visits/mo
0.5 miles
Taco Bell
Dining
10,885 visits/mo
0.1 miles
Demographics for 38104, TN
22,584
Population
14,315
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
4,517
Density / Sq Mi
$56,452
Median Household Income
$48,300
Median Earnings
$1,073
Median Rent
$301,100
Median Home Value
Market
Vacancy Rate% for Retail in Memphis, TN
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Frequently Asked Questions
What type of property is this?
Drug store - Walgreens property on an absolute net lease with eight years remaining and multiple renewal options.
Where is this drug store located?
The property is located at 1359 Poplar Avenue Memphis, TN.
What are key features of this property?
This property features: Walgreens property on an absolute net lease with eight years remaining on the primary term and ten (5‑year) options to follow; Lease income is guaranteed by Walgreens parent corporate (S&P BBB) Fortune 500 company with over 9,500 locations; Location: signalized corner of Poplar Avenue and North Cleveland Street with 31,715 combined vehicles per day
