805 W Main St Livingston, TN 38570
- Commercial real estate
- 13,578 SF
- 1.25 lot acres
Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- FedEx OnSite / Postal Service / Courier Service
- Walgreens Pharmacy / Pharmacy
- Walgreens / Pharmacy
- Sara Smith / Pharmacy
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.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,625,000
- ML approach
- $3,855,000
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Location Insight
- Map
- Local Demand
- City
- Livingston
- County
- Overton
- State
- Tennessee
- Longitude
- -85.3316
- Latitude
- 36.379
- CBSA code
- 18260
- CBSA name
- COOKEVILLE, TN MICROPOLITAN STATISTICAL AREA
