4210 Roan St Johnson City, TN 37601
- Commercial real estate
- 15,180 SF
- 1.93 lot acres
Current Use by Public Records
- Walgreens Pharmacy / Pharmacy
- Redbox / Movie Rental Kiosk / Dvd Store
- FedEx OnSite / Mailing Service
- Walgreens Photo / Photo Shop / Passport Photo Processor
- Western Union / Money Transfer Service
Property Details for 4210 Roan St
- Year built
- 2009
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.93 lot acres
- Property size
- 15,180 SF
- Property type
- Commercial real estate
- APN
- 029F C 04100
- APU
- 029FC04100
Description
This exceptional investment opportunity presents a 14,820-square-foot Walgreens pharmacy, situated on a 1.93-acre lot in Johnson City, Tennessee. The property boasts a highly desirable absolute NNN lease with Walgreens, a leading national pharmacy chain, ensuring minimal landlord responsibilities. The lease, commencing April 6, 2009, has a remaining term of 59.5 years, extending to April 30, 2084, providing exceptional long-term stability and predictable cash flow. The property's strategic location at the signalized intersection of N Roan Street and Carroll Creek Road offers excellent visibility and accessibility, benefiting from a combined daily traffic count exceeding 20,800 vehicles. The property is surrounded by a robust retail environment, including major national brands such as Walmart, Sam's Club, Home Depot, Lowe's, and numerous other retailers. The asking price is $5,472,000, representing a compelling cap rate of 6.25% and a price per square foot of $369.23. The property generates a net operating income (NOI) of $342,000 annually. The building includes a drive-thru for added convenience. This investment offers a rare opportunity to acquire a high-performing, long-term net lease property with a blue-chip tenant in a thriving retail corridor. The property's strong fundamentals, coupled with the tenant's financial strength and long-term commitment, make this an attractive investment for discerning buyers seeking stable, passive income. The property's address is 4210 N Roan St, Johnson City, TN 37601, and the APN is 090029F C 04100.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $7,525,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $5,590,000
- 6.5%
- $6,520,000
- 7%
- $5,740,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $7,215,000
- Geo Method
- $6,525,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $7,015,000
- Retail
- $7,005,000
- Mixed-Use
- $6,830,000
- Hospitality
- $7,135,000
- Educational
- $5,700,000
- Residential Income
- $5,710,000
- Energy
- $6,800,000
- Income-Based Land
- $6,510,000
- Food Service
- $5,905,000
Location Insight
- Map
- Local Demand
- City
- Johnson City
- County
- Washington
- State
- Tennessee
- Longitude
- -82.4068
- Latitude
- 36.3778
- CBSA code
- 27740
- CBSA name
- JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA
