805 Madison Ave Athens, TN 37303
- Retail properties
- 14,764 SF
- 1.64 lot acres
Current Use by Public Records
- Walgreens Photo / Passport Photo Processor / Photo Lab
- Walgreens Pharmacy / Pharmacy
- Walgreens / Drug Store
- Philip A. Gregory, RPH / Pharmacy
- Western Union / Money Transfer Service
Property Details for 805 Madison Ave
- Year built
- 2005
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.64 lot acres
- Property size
- 14,764 SF
- Property type
- Retail properties
- APN
- 054065C C 00100
- APU
- 054065CC00100
Description
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.
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
- Athens
- County
- Mcminn
- State
- Tennessee
- Longitude
- -84.6034
- Latitude
- 35.4384
- CBSA code
- 11940
- CBSA name
- ATHENS, TN MICROPOLITAN STATISTICAL AREA
