1011 Highway 411 Etowah, TN 37331
- Retail properties
- 2,502 SF
- 0.94 lot acres
Current Use by Public Records
- Walgreens Pharmacy / Pharmacy
- Walgreens / Drug Store
- FedEx OnSite / Mailing Service
Property Details for 1011 Highway 411
- Lot size
- 0.94 lot acres
- Property size
- 2,502 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple, Class A, 2,502 square foot Walgreens located at 1011 Hwy 411, Etowah, TN 37331. The property boasts a strong 6.15% cap rate and a substantial $125,000 annual net operating income (NOI). Secured by a corporate guarantee, the absolute NNN lease features a 10-year term commencing October 1, 2023, with a remaining term of 8.9 years and four 5-year renewal options. Rent increases of 5% every five years are built into the lease. Strategically positioned across from Starr Regional Medical Center, this newly constructed, drive-through prototype store benefits from high visibility on Highway 411 N (12.9K VPD) and enjoys a dedicated left-turn lane. The 0.94-acre lot offers ample space, and an additional 0.5-acre parcel is available for purchase. This is a turnkey investment with minimal landlord responsibilities, offering a compelling combination of strong tenant, location, and lease terms. The property's proximity to the hospital significantly boosts pharmaceutical sales. This is a rare opportunity to acquire a high-performing Walgreens in a prime location with significant long-term growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Etowah
- County
- McMinn
- State
- Tennessee
- Longitude
- -84.5206
- Latitude
- 35.3445
