2421 Lebanon Pike Nashville, TN 37214-2412

This exceptional investment opportunity presents a 14,490-square-foot Walgreens located at 2421 Lebanon Pike in Nashville, Tennessee, 37214. The property boasts a fee-simple ownership structure with an absolute triple-net (NNN) lease, eliminating all landlord responsibilities and allowing for depreciation benefits. The lease, with Walgreens Boots Alliance as the corporate guarantor, has a remaining term of 4.8 years, with ten 5-year renewal options. The lease commenced August 1, 2004, and is set to expire August 31, 2029. The property features a 100% occupancy rate, generating a net operating income (NOI) of $380,600, resulting in a 6.92% cap rate. The asking price is $5,500,000, translating to a price per square foot of $379.57. Built in 2004, this strategically located retail property sits on a 1.69-acre lot and includes 77 parking spaces and a drive-thru. The property benefits from its position on a hard corner at a signalized intersection of Lebanon Pike (AADT: 36,473) and McGavock Pike (AADT: 10,335), within a high-performing retail corridor boasting notable nearby tenants such as Publix, Kroger, McDonald's, Starbucks, and more. The dense demographics, with over 140,000 full-time residents in the immediate trade area, contribute to the property's consistent performance. Tennessee's status as an income tax-free state and its rapid growth further enhance the investment appeal. The property's "daily needs" nature, as a pharmacy, provides resilience against economic downturns. The location is also less than 10 minutes from Nashville International Airport.