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    805 Madison Ave Athens, TN 37303

    Sponsored
    For Sale
    $4,294,975

    High-yield, long-term Walgreens lease.

    Property size:
    14,550 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    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 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

    HighLights

    • 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.
    • Asking price: $4,294,975 ($295.19/SF).
    • Located in Athens, TN (McMinn County), a metro area with over 50,000 residents, strategically positioned between Chattanooga and Knoxville.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor Walgreens Pharmacy Pharmacy Walgreens Drug Store Philip A. Gregory, RPH Pharmacy Western Union Money Transfer Service

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    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.
    Request Owner's contact information
    805 Madison Ave Athens, TN 37303
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    Athens, TN 37303
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    805 Madison Ave Athens, TN 37303
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