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8.65 Cap Tax Free State Walgreens 4210 N Roan St 14,820 SF Retail Building Johnson City, TN 37601 $5,405,181 CAD ($364.72 CAD/SF) 8.65% Cap Rate
Investment Highlights
- Absolute NNN Lease: With 8.5 years of firm lease term remaining under an absolute NNN lease structure, this property provides a reliable income stream
- Strategic Positioning in a Growing Market: Located in a key retail development zone along the I-26 corridor.
- Tennessee Tax Advantage: Located in a state with no income tax.
- Prime Location in a Thriving Trade Area: Situated at the signalized hard corner of N. Roan Street and Carroll Creek Road.
- Long-Term Stability: With 8.5 years of firm lease term remaining.
- Strong Demographics and Economic Growth: Positioned within a 3-mile radius of 23,951 residents and a 10-mile radius of 164,610.
Executive Summary
Colliers is pleased to present a premier retail investment opportunity located at 4210 N. Roan Street, Johnson City, Tennessee. This property represents a dominant drugstore asset with over 8.5 years of firm lease term remaining, perfectly positioned to thrive in a rapidly growing trade area.
Situated on a signalized hard corner at the intersection of N. Roan Street and Carroll Creek Road, this 14,820 SF single-tenant retail building commands a strategic presence in North Johnson City’s bustling retail corridor. The surrounding area is a vibrant hub of activity, featuring major retailers such as Food City, Dollar General, Hardee’s, O’Reilly Auto Parts, and McDonald’s, ensuring consistent consumer traffic and long term viability.
The property sits on a generous 2.04-acre lot, offering a modern design with a convenient drive-thru and 55 parking spaces (3.73/1,000 SF ratio). Built in 2008, this Class B asset boasts 161 feet of frontage along Carroll Creek Road, enhancing accessibility and visibility. The absolute NNN lease structure, with zero landlord responsibilities, delivers a hands-off investment with an annual rent of $342,000, providing stability and ease of ownership.
Located in a state with no income tax, this opportunity is further enhanced by Tennessee’s favorable tax climate. With its proximity to major retail centers like Walmart, Target, and Johnson City Crossings, and supported by a growing population and a robust local economy driven by East Tennessee State University and the “Med-Tech” corridor, this property is poised to remain a cornerstone of the community for years to come.
Situated on a signalized hard corner at the intersection of N. Roan Street and Carroll Creek Road, this 14,820 SF single-tenant retail building commands a strategic presence in North Johnson City’s bustling retail corridor. The surrounding area is a vibrant hub of activity, featuring major retailers such as Food City, Dollar General, Hardee’s, O’Reilly Auto Parts, and McDonald’s, ensuring consistent consumer traffic and long term viability.
The property sits on a generous 2.04-acre lot, offering a modern design with a convenient drive-thru and 55 parking spaces (3.73/1,000 SF ratio). Built in 2008, this Class B asset boasts 161 feet of frontage along Carroll Creek Road, enhancing accessibility and visibility. The absolute NNN lease structure, with zero landlord responsibilities, delivers a hands-off investment with an annual rent of $342,000, providing stability and ease of ownership.
Located in a state with no income tax, this opportunity is further enhanced by Tennessee’s favorable tax climate. With its proximity to major retail centers like Walmart, Target, and Johnson City Crossings, and supported by a growing population and a robust local economy driven by East Tennessee State University and the “Med-Tech” corridor, this property is poised to remain a cornerstone of the community for years to come.
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
$5,405,181 CAD
Price Per SF
$364.72 CAD
Cap Rate
8.65%
NOI
$467,548 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.93 AC
Zoning
C08 - Commercial
Parking
55 Spaces (3.71 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Walgreens Boots Alliance traces its roots to Walgreens, founded in Chicago in 1901, and later grew through the combination with Alliance Boots into a broader healthcare, pharmacy, and retail business. The company describes itself as an integrated healthcare, pharmacy, and retail leader serving millions of customers and patients every day. Its business spans retail pharmacy, prescription services, health and wellness products, and related healthcare offerings, reflecting a focus on community-based care and access to medicines and services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 029F-C-041.00 | Improvements Assessment | $711,341 CAD |
| Land Assessment | $344,210 CAD | Total Assessment | $1,055,551 CAD |
Property Taxes
Parcel Number
029F-C-041.00
Land Assessment
$344,210 CAD
Improvements Assessment
$711,341 CAD
Total Assessment
$1,055,551 CAD
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8.65 Cap Tax Free State Walgreens | 4210 N Roan St
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