3577 Brainerd Rd
Chattanooga, TN 37411
Rite Aid · Retail Property For Sale

Pharma Property Group has been exclusively retained by ownership to present for sale the opportunity to acquire fee interest in a future Walgreens property in Chattanooga, Tennessee. This asset is available for purchase and operates on an absolute net lease basis with 1 year remaining, four (5 year) options to follow with a $0.05/square foot rental increase in each option. There are no Landlord responsibilities whatsoever. Landlord received confirmation that this lease has been assumed by Walgreens in 2018 with their acquisition of ±1,900 Rite Aid locations. This store is now operating as a Walgreens Pharmacy. The subject property is located in an area with three major hospitals within a 3 mile radius. Parkridge Medical Center is a 275-bed medical center offering comprehensive diagnostic and medical/surgical services, including cardiovascular surgery, cancer treatment, intensive care, orthopedic and spines surgery, and rehabilitation. CHI Memorial Hospital is a 365-bed hospital and is recognized as a leader in cardiology technology. Parkridge East Hospital is a 128-bed hospital offering a full range of services including an emergency room open 24 hours a day, seven days a week. The property is located at the signalized hard corner of Brainerd Road and North Germantown Road with a combined traffic count of 42,795 cars per day. Brainerd Road is the direct route to downtown Chattanooga which is only 4 miles west. Interstate 24 and Interstate 75 are both located just south of the subject property with approximately 99,233 cars per day and 112,342 cars per day respectively. The average household income in a one-mile radius is $58,441, in a three-mile radius it is $46,149 and $50,079 in a five mile radius. Total one-mile population count is 9,056, in a three-mile radius it is 68,829 and 144,263 in a five-mile radius. Chattanooga is the fourth-largest city Tennessee and is located in the foothills of the Appalachian Mountains along the Tennessee River. Chattanooga is centrally located approximately 120 miles northwest of Atlanta, Georgia, 120 miles southwest of Knoxville, Tennessee, 135 miles southeast of Nashville, Tennessee and 12 miles northeast of Huntsville, Alabama making it a transit hub which is served by multiple railroads and Interstate highways.