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7994 US Highway 51 North
Millington, TN 38053
Walgreens: Millington, TN · Retail Property For Sale
Investment Highlights
- Brand new 15-year NNN lease commenced in February 2025 and features 5% rent increases every 5 years and in each of the twelve, 5-year renewal options.
- 2.3 MSF of retail, 1.1 MSF of industrial, and 1,796 multifamily units within a 5-mile radius.
- Positioned on a hard corner at the signalized intersection of Easley Street (5,963 VPD) and US Highway 51 (20,563 VPD)
- Surrounded by 2,223 households within a 1-mile radius, placing a substantial built-in customer base within walking distance of the site.
Executive Summary
CBRE is pleased to exclusively offer for sale the 14,560-square-foot Walgreens situated on 1.81 acres in Millington, TN - a component of the Memphis, TN MSA (Population: 1.34M+).
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,560 SF
Building Class
B
Year Built
2005
Price
$6,193,934 CAD
Price Per SF
$425.41 CAD
Cap Rate
6.25%
NOI
$387,121 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.81 AC
Opportunity Zone
Yes
Zoning
B-2
Frontage
200’ on US-51 N
Amenities
- Signalized Intersection
- Drive Thru
- Monument Signage
Property Taxes
| Parcel Number | M0-115-0-0920 | Improvements Assessment | $888,666 CAD |
| Land Assessment | $392,023 CAD | Total Assessment | $1,280,690 CAD |
Property Taxes
Parcel Number
M0-115-0-0920
Land Assessment
$392,023 CAD
Improvements Assessment
$888,666 CAD
Total Assessment
$1,280,690 CAD
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