Walgreens Absolute Net Drug
2615 Lake Rd Dyersburg, TN 38024
2615 Lake Rd, Dyersburg, TN, 38024
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For Sale
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Single-tenant Walgreens operates on an absolute net lease with roughly 10 years remaining and extension options.
Days on Market102
Property Features for 2615 Lake Rd
General Information
- Standard status
- Active
- Property subtype
- Retail
Listing agency
Pharma Property Group
(619) 297-0055
Listed by
Jason Pongsrikul · License #CA 01918332
Source
Crexi
Added: Apr 13 Updated: Jul 23 at 2:54AM Checked: Jul 23 at 2:54AM
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.
Located at 2615 Lake Rd, Dyersburg, TN 38024, this is a single-tenant Walgreens property operating on an absolute net lease basis. The lease has approximately 10 years remaining and includes 10 (5-year) options to extend. Income is guaranteed by Walgreens corporation.
For sale with existing financing that is assumable, the current debt matures in 2025. The loan is non-recourse and carries a 1% assumption fee payable by the buyer. Operational performance details in the offering include current monthly debt service of $16,622 and cash flow after debt service of $6,878 monthly, or $82,536 annually, as stated.
The store is positioned on Lake Road with reported traffic of approximately 26,327 VPD. It is also described as three blocks from US 51 (reported 17,161) and Interstate 155 (reported 14,403). The remarks note Dyersburg’s employment base includes Firestone Industrial Products, West Tennessee Healthcare Dyersburg Hospital, and Dyersburg State Community College.
For sale with existing financing that is assumable, the current debt matures in 2025. The loan is non-recourse and carries a 1% assumption fee payable by the buyer. Operational performance details in the offering include current monthly debt service of $16,622 and cash flow after debt service of $6,878 monthly, or $82,536 annually, as stated.
The store is positioned on Lake Road with reported traffic of approximately 26,327 VPD. It is also described as three blocks from US 51 (reported 17,161) and Interstate 155 (reported 14,403). The remarks note Dyersburg’s employment base includes Firestone Industrial Products, West Tennessee Healthcare Dyersburg Hospital, and Dyersburg State Community College.
Key Highlights
- Absolute net lease Walgreens property with approximately 10 years remaining and 10 (5‑year) extension options.
- Assumable financing available: loan matures in 2025, balance is $2,949,616 at 4.85% interest.
- Current monthly debt service is $16,622; cash flow after debt service is $6,878 monthly ($82,536 annually) for a 7.65% cash‑on‑cash return.
Property Analytics
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
FedEx OnSite
Postal Service
Redbox
Cinema
April M. Coleman, ...
Pharmacy
Walgreens
Cosmetic Store
Similar For Sale Nearby
Similar Off Market Nearby
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- CVS Pharmacy — 2300 Lake Rd, Dyersburg, TN 38024, United States
- Heather Schulze — 2300 Lake Rd, Dyersburg, TN 380241830
FAQs
What type of property is this?
Drug store - Single-tenant Walgreens operates on an absolute net lease with roughly 10 years remaining and extension options.
Where is this drug store located?
The property is located at 2615 Lake Rd Dyersburg, TN.
What are key features of this property?
This property features: Absolute net lease Walgreens property with approximately 10 years remaining and 10 (5‑year) extension options.; Assumable financing available: loan matures in 2025, balance is $2,949,616 at 4.85% interest.; Current monthly debt service is $16,622; cash flow after debt service is $6,878 monthly ($82,536 annually) for a 7.65% cash‑on‑cash return.
