1757 Andrew Johnson Hwy Morristown, TN 37814
- Retail properties
- 44,954 SF
- 5.07 lot acres
Current Use by Public Records
- Walmart Fuel Station / Gas Station
Property Details for 1757 Andrew Johnson Hwy
- Lot size
- 5.07 lot acres
- Property size
- 44,954 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Morristown
- County
- Hamblen
- State
- Tennessee
- Longitude
- -83.3156
- Latitude
- 36.2062
