Walgreens | Cordova, TN

Retail

9028 Walnut Grover Rd Cordova, TN
Price:
$ 4,031,000
Property Size:
15,120 sqft
Cap Rate:
7.50
NOI:
$ 302,319
Lot Size:
1.94 acres
Year Built:
2002
Status:
Sale

INVESTMENT GRADE CREDIT TENANT
Walgreens Boots Alliance, Inc. holds an investment grade credit rating
of BBB with Standard & Poor’s. As of August 31, 2019, Walgreens has
Revenues of $136.9 Billion and a tangible net worth of $12.6 Billion.
STRONG INCOME TAX-FREE TENNESSEE MARKET
Subject Property is located in the Memphis city limits and in the community
of Cordova. Cordova is a thriving submarket of Memphis with a single digit
vacancy rate of 5.1% and growing market rents.
PRIME DRUG STORE LOCATION
Within three miles of the Subject Property, there are over 18,000 households
and the average household income is $134K. Additionally, the closest
competitor to this Walgreens is over two miles away providing covenience to
a large group of consumers.
VALUE-ADD COMPONENT WITH RENTAL INCREASE
The Tenant has an upcoming 10% r ental increase in their first option period.
TENANT REPORTS UNIT SALES FIGURES
Per the lease agreement, the Tenant is obligated to provide unit level sales fig

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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Exclusive Listing

Jerry Hopkins
Executive Managing Director
918.878.9536
Ken Hedrick
Executive Managing Director
918.878.9540

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