805 W Main St Livingston, TN 38570

Property Details for 805 W Main St

Year built

2008

Lot size

1.25 lot acres

Property size

13,578 SF

Zone code

C-3

Property type

Commercial real estate

APN

067054I A 00300

APU

067054IA00300

Description

This exceptional investment opportunity presents a 13,650 square foot Walgreens, situated on a 1.25-acre lot at 805 W Main St, Livingston, TN 38570. The property boasts a strong 10.8 years remaining on a triple-net (NNN) lease, commencing September 1, 2022, and expiring August 31, 2035. The lease includes 12 five-year renewal options, each with a favorable 5% rent increase. This ensures a stable and appreciating income stream for the investor. The tenant, Walgreens (WBA on NASDAQ), provides a corporate guarantee, mitigating risk. The property enjoys excellent visibility and access along Main Street, a high-traffic area with over 19,621 vehicles per day (VPD). Its strategic location within the main retail corridor, adjacent to Subway and across from McDonald's and American Bank & Trust, further enhances its appeal. The property also benefits from proximity to other key businesses, including Dollar Tree, the United States Post Office, and Livingston Regional Hospital (114 beds), less than a mile away. The property features 62 parking spaces and was built in 2008. The current asking price is $3,315,000, representing a price per square foot of $242.86 and a compelling 7.00% cap rate based on a net operating income (NOI) of $232,050. Livingston is part of the Cookeville Micropolitan Statistical Area (population 117,267) and the county seat of Overton County (population 22,864), an area known for its natural attractions including two state parks and Dale Hollow Lake. This is a rare opportunity to acquire a high-performing, low-maintenance, and secure net lease investment with significant long-term growth potential.

Location Insight

City

Livingston

County

Overton

State

Tennessee

Longitude

-85.3316

Latitude

36.379

CBSA code

18260

CBSA name

COOKEVILLE, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments