11305 Chapman Hwy Seymour, TN 37865

Property Details for 11305 Chapman Hwy

Year built

2003

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.74 lot acres

Property size

14,168 SF

Zone code

C-2

Property type

Commercial real estate

APN

078045 09600

APU

7804509600

Description

This exceptional investment opportunity presents a 14,490-square-foot Walgreens pharmacy, situated on a 1.74-acre lot at 11305 Chapman Hwy, Seymour, TN 37865. The property boasts a strong absolute NNN lease with Walgreens (a tenant rated BBB by S&P), offering a 6.65% cap rate and a substantial net operating income (NOI) of $285,000. The lease, originally commencing December 1, 2003, has a remaining term of approximately four years, with options extending through 2078. The property benefits from a high-traffic location at the intersection of Chapman Hwy (Hwy 441) and Marysville Hwy (Hwy 35), boasting a combined daily traffic count exceeding 27,000 vehicles. This prime location is part of the Knoxville MSA, only 12 miles from downtown Knoxville, and is surrounded by other established businesses including Food City, Tractor Supply Co., AutoZone, Starbucks, McDonald's, Taco Bell, and Burger King. The asking price is $4,285,000, translating to a price per square foot of $295.72. This presents a rare opportunity to acquire a low-risk, investment-grade asset with minimal landlord responsibilities and a history of successful operation exceeding 20 years. The property's size and location within a growing, affluent suburb contribute to its long-term value and potential for appreciation.

Location Insight

City

Seymour

County

Sevier

State

Tennessee

Longitude

-83.7586

Latitude

35.871

CBSA code

42940

CBSA name

SEVIERVILLE, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments