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    1757 Andrew Johnson Hwy Morristown, TN 37814

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    Morristown, TN: Prime Walmart-Leased Property

    Property size:
    44,954 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple retail property, fully leased to a Walmart Neighborhood Market under a triple-net (NNN) lease. The 44,954 square-foot building, constructed in 2016, sits on a 5.069-acre lot at 1757 W Andrew Johnson Hwy, Morristown, TN 37814. The property benefits from a corporate guarantee from Walmart Stores Inc., ensuring consistent income. The current lease, commencing April 12, 2016, has a remaining term of approximately 6.4 years, with 17 five-year option periods, each including a 3% rent increase. The property boasts a 5.25% cap rate and is currently 100% occupied. Strategically located on a major thoroughfare with high vehicle traffic (20,600+ VPD), this asset enjoys excellent visibility and proximity to other prominent retailers, including The Home Depot, Walgreens, Chick-fil-A, McDonald's, Food City, Lowe's, Ollie's Bargain Outlet, and Dollar Tree. The property is situated in a thriving retail and employment center within Morristown, a principal city with a strong regional economy and a population exceeding 45,500 within a five-mile radius, boasting an average household income of $56,081. This presents a secure, high-yield investment with significant long-term potential. The APN is 041C-B-002.00.

    Property Features for 1757 Andrew Johnson Hwy

    General Information

    Property type
    Individual retail properties
    Square Feet
    44,954 SF
    Lot Size
    220,806 SF

    HighLights

    • Walmart Neighborhood Market (NNN Lease) with Corporate Guarantee from Walmart Stores, Inc.
    • Investment‑grade tenant with S&P AA and Moody's Aa2 ratings.
    • Over 9.5 years of lease remaining, representing $6.7M in outstanding rent obligations.
    • Triple‑Net (NNN) lease with zero landlord responsibilities.
    • 44,954 SF building on a 5.07‑acre lot, constructed in 2016.
    • Investment‑grade parent company guarantee from Walmart Stores, Inc.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walmart Fuel Station Gas Station

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Hamblen
    State
    Tennessee
    Longitude
    -83.3156374
    Latitude
    36.2061706

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    FAQs

    What type of property is this?
    Individual retail property - Morristown, TN: Prime Walmart-Leased Property
    Where is this individual retail property located?
    The property is located at 1757 Andrew Johnson Hwy Morristown, TN.
    What are key features of this property?
    This property features: Walmart Neighborhood Market (NNN Lease) with Corporate Guarantee from Walmart Stores, Inc.; Investment-grade tenant with S&P AA and Moody's Aa2 ratings.; Over 9.5 years of lease remaining, representing $6.7M in outstanding rent obligations.
    Request Owner's contact information
    1757 Andrew Johnson Hwy Morristown, TN 37814
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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
    1757 Andrew Johnson Hwy Morristown, TN 37814
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