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2708 New Salem Hwy
Murfreesboro, TN 37128
Walgreens · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease with 9.5 years of primary term remaining
- No Income Tax State
- Directly across from St Thomas Medical Partners
EXECUTIVE SUMMARY
Centennial Retail Services is pleased to present an excellent opportunity to acquire a Walgreens Pharmacy located in one of the fastest growing markets in the Nashville, middle Tennessee MSA. The property is located at 2708 New Salem RD, Murfreesboro, TN and features an absolute NNN lease with Zero Landlord responsibilities. 9.5 years remain on the original 25 year lease term. With options, the lease goes through July 31, 2083.
This property benefits investors by being located in a No state income tax state giving owners an extra yield. Over the next 5-years the immediate trade area is projected to continue to explode in growth. The population growth is projected to increase by over 15%. There is lots of new development going up around the property and New Salem Hwy. Adjacent to the property is a Publix anchored shopping center, McDonalds, Taco Bell and a new medical office building anchored by St Thomas Health.
The passive income investment opportunity consist of the fee simple ownership interest in the property. The building is 14,280 square feet, and the parcel is 2.49 acres. The property sits at a signalized intersection serving two new residential communities. The traffic count is 15,693 vpd.
This property benefits investors by being located in a No state income tax state giving owners an extra yield. Over the next 5-years the immediate trade area is projected to continue to explode in growth. The population growth is projected to increase by over 15%. There is lots of new development going up around the property and New Salem Hwy. Adjacent to the property is a Publix anchored shopping center, McDonalds, Taco Bell and a new medical office building anchored by St Thomas Health.
The passive income investment opportunity consist of the fee simple ownership interest in the property. The building is 14,280 square feet, and the parcel is 2.49 acres. The property sits at a signalized intersection serving two new residential communities. The traffic count is 15,693 vpd.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
B
Year Built
2008
Price
$7,451,247 CAD
Price Per SF
$502.78 CAD
Cap Rate
5.86%
NOI
$436,607 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
2.49 AC
Zoning
CF
Parking
74 Spaces (4.99 Spaces per 1,000 SF Leased)
Frontage
169’ on Salem Hwy
AMENITIES
- Pylon Sign
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 114-002.11-000 | Improvements Assessment | $1,313,293 CAD |
| Land Assessment | $624,968 CAD | Total Assessment | $1,938,261 CAD |
PROPERTY TAXES
Parcel Number
114-002.11-000
Land Assessment
$624,968 CAD
Improvements Assessment
$1,313,293 CAD
Total Assessment
$1,938,261 CAD
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