1757 Andrew Johnson HwyMorristown, TN 37814

Property Details for 1757 Andrew Johnson Hwy

Lot size

5.07 AC

Property size (Sq ft)

44,954 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Morristown

County

Hamblen

State

Tennessee

Latitude

36.2062

Longitude

-83.3156

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