805 Madison Ave Athens, TN 37303
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High-yield, long-term Walgreens lease.
Property size:
14,550 SFProperty Features for 805 Madison Ave
General Information
- Property type
- Individual retail properties
- Square Feet
- 14,550 SF
Building Details
- Year Built
- 2005
- Buildings
- 1
- Stories
- 1
- Units
- 1
Listing Agency: LHT Commercial Real Estate, LLC Listing Agent: Jonathan Broadway
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a 14,550-square-foot Walgreens located at 805 W Madison Ave, Athens, TN 37303. The property boasts a 75-year absolute NNN lease, commencing September 1, 2005, and expiring August 31, 2080, leaving a substantial remaining term of 55.8 years. The single-tenant building, constructed in 2005, sits on approximately 1.64 acres and enjoys 100% occupancy. The property generates a strong net operating income (NOI) of $265,000 annually, resulting in an attractive 6.17% capitalization rate. The asking price is $4,294,975, translating to a price per square foot of $295.19. Situated in Athens, the county seat of McMinn County, this Walgreens benefits from a population exceeding 50,000 in the Athens metro area. Its strategic location in southeastern Tennessee, between Chattanooga and Knoxville, ensures high visibility and accessibility. This is a rare opportunity to acquire a secure, long-term, high-performing retail investment with a nationally recognized tenant. The property's strong financials and prime location make it an ideal addition to any diversified investment portfolio.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens Pharmacy
Pharmacy
Walgreens
Pharmacy
Philip A. Gregory, RPH
Pharmacy
Western Union
Bank
Location Insight
- Map
- Local Demand
- City
- Athens
- County
- McMinn
- State
- Tennessee
- Longitude
- -84.6035089
- Latitude
- 35.4383677
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FAQs
What type of property is this?
Individual retail property - High-yield, long-term Walgreens lease.
Where is this individual retail property located?
The property is located at 805 Madison Ave Athens, TN.
What is the asking price?
The asking price for this property is $4,294,975.
What are key features of this property?
This property features: 75-year absolute NNN lease with Walgreens, expiring August 31, 2080.; 14,550-square-foot building on ~1.64 acres, built in 2005.; $265,000 annual net operating income (NOI), 6.17% capitalization rate.
