Retail Space
2421 Lebanon Pike Nashville, TN 37214
Details & Description
Price: $7,048,148
    Marcus & Millichap is pleased to present for sale this Absolute Net Leased Walgreens located at 2421 Lebanon Pike in Nashville, Tennessee. The subject property consists of a free-standing building comprised of 14,490 square feet of retail space and is situated on a large 1.6-acre parcel of land. Strategically located on the Hard-Signalized Intersection of Route-70, a major East-West thoroughfare, and McGavock Pk, the property is highly visible to more than 42,956 vehicles per day. It also features excellent access and is within close proximity to Briley Parkway, a major highway with high traffic counts exceeding 102,201 daily. The subject property sits just one block from a Publix anchored Shopping Center, across a free-standing Kroger, and part of a dense retail corridor which is home to a number of National and Regional retailers including but not limited to CVS, McDonalds, SunTrust, Krystal, Burger King, Pizza Hut, and many more. The property sits just in the outskirts of Downtown Nashville and benefits from over 140,000 full time residents in the immediate trade area. Walgreens signed their original 25 Year Absolute Net Lease in 2004 and has over eight years of term remaining. The Absolute-Net lease is guaranteed by Walgreens Boot Alliance and provides nine options to extend for five years each. Walgreens (NYSE: WBA) is a publicly traded company with an S&P Credit Rating of BBB and is ranked #19 in the Fortune 500 (2020). Walgreen Co. operates over 9,275 stores in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies.
    Property Highlights
    Listing Agents
    Gabriel Britti

    O: 786-522-7017
    gabriel.britti@marcusmillichap.com
    Ronnie Issenberg
    Marcus & Millichap
    O: 786-522-7013
    ronnie.issenberg@marcusmillichap.com
    Ricardo Esteves
    Marcus & Millichap
    O: 786-522-7054
    ricardo.esteves@marcusmillichap.com
    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

    2421 Lebanon Pike

    Nashville, TN 37214

    Walgreens Nashville

    Listing ID: 275828
    • 2421 Lebanon Pike Nashville, TN 37214 | for Sale | Photo 1
    • 2421 Lebanon Pike Nashville, TN 37214 | for Sale | Photo 2
    • 2421 Lebanon Pike Nashville, TN 37214 | for Sale | Photo 3
    2421 Lebanon Pike | for Sale | Thumbnail 1
    2421 Lebanon Pike | for Sale | Thumbnail 2
    2421 Lebanon Pike | for Sale | Thumbnail 3
    Building Size: 14,490 SF
    Lot Size: 1.600 AC
    Land Size: 69,696 SF
    Building $/SF: $486.41
    Land $/SF: $101.13
    Price
    $7,048,148
    Property Highlights
    Investment Grade Credit Tenant, Rated BBB by SP
    Corporate Guarantee Walgreens Boot Alliance
    Absolute NNN Lease No Landlord Responsibilities
    Strong Store Sales - Fee Simple Allowing for Depreciation
    Just a Few Miles from Downtown Nashville
    Tennessee is a No Income Tax Free State
    Description

    Marcus & Millichap is pleased to present for sale this Absolute Net Leased Walgreens located at 2421 Lebanon Pike in Nashville, Tennessee. The subject property consists of a free-standing building comprised of 14,490 square feet of retail space and is situated on a large 1.6-acre parcel of land. Strategically located on the Hard-Signalized Intersection of Route-70, a major East-West thoroughfare, and McGavock Pk, the property is highly visible to more than 42,956 vehicles per day. It also features excellent access and is within close proximity to Briley Parkway, a major highway with high traffic counts exceeding 102,201 daily. The subject property sits just one block from a Publix anchored Shopping Center, across a free-standing Kroger, and part of a dense retail corridor which is home to a number of National and Regional retailers including but not limited to CVS, McDonalds, SunTrust, Krystal, Burger King, Pizza Hut, and many more. The property sits just in the outskirts of Downtown Nashville and benefits from over 140,000 full time residents in the immediate trade area. Walgreens signed their original 25 Year Absolute Net Lease in 2004 and has over eight years of term remaining. The Absolute-Net lease is guaranteed by Walgreens Boot Alliance and provides nine options to extend for five years each. Walgreens (NYSE: WBA) is a publicly traded company with an S&P Credit Rating of BBB and is ranked #19 in the Fortune 500 (2020). Walgreen Co. operates over 9,275 stores in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies.

    Points of Interest & Demographic Radii

    Points of Interest
    Demographic Radii
    POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
     
    Nashville History of Retail Space for Sale

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    Nashville Area Market Trends

    Listing Demographics for 2421 Lebanon Pike Nashville, TN 37214

    All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

    1-Mile 3-Miles 5-Miles
    Total Population4,93136,776139,331
    Population Median Age433836
    Population by Age0-9 Yrs403 (8%)4155 (11%)17114 (12%)
    10-19 Yrs543 (11%)3047 (8%)13390 (9%)
    20-29 Yrs542 (10%)6335 (17%)25971 (18%)
    30-39 Yrs566 (11%)7121 (19%)26488 (19%)
    40-49 Yrs888 (18%)4661 (12%)17694 (12%)
    50-59 Yrs838 (16%)4758 (12%)16552 (11%)
    60-69 Yrs511 (10%)3519 (9%)12493 (8%)
    70+ Yrs641 (12%)3180 (8%)9628 (6%)
    Median HH Income$65,496$60,188$55,422
    Total Household Income< 24K186 (8%)2390 (14%)12038 (19%)
    25-49K469 (21%)4035 (24%)15305 (25%)
    50-74K659 (30%)4225 (25%)12359 (20%)
    75-99K400 (18%)2389 (14%)7750 (12%)
    100-199K418 (19%)3041 (18%)11131 (18%)
    200K+58 (2%)516 (3%)2215 (3%)
    Highest Education LevelNo Diploma358277711033
    Diploma or GED806668424088
    Some College896593120241
    Assoc. Degree26520667133
    Bachelors Degree1122750626666
    Higher Degree322272510994
    Total Housing Units2,37218,03067,528
    --Owner-Occupied1,6139,60630,852
    --Renter-Occupied5776,98829,946
    Owner-Occupied Values< 100K875322114
    100-199K812381111111
    200-299K39330299213
    300-399K21214304599
    400-499K605052079
    500K+492991735
    Total Working Age Population4,26330,931114,171
    In Work Force2,87722,81185,165
    Not In Work Force1,3868,11929,006
    Workforce Employed2,76722,18281,191
    Workforce Unemployed1106213,907
    Civlian Workforce2,87722,80385,098
    Military Workforce0867
    Total Households2,19016,59460,798
    Family Households1,2058,30830,869
    Non-Family Households9858,28629,929
    Married Couple9196,13819,801
    Other Family2862,17011,068
    Married w/Child1982,1457,503
    Single Male w/Child292151,212
    Single Female w/Child997124,773

    Population Change Last Two Decades - Plus Projection

    2000%2010%2020%2030
    Tennessee5,689,283+126,346,105+96,886,369+77,393,069
    Davidson County569,891+10626,681+13705,400+7756,117
    Rutherford County182,023+44262,604+30341,000+24422,589
    Wilson County88,809+28113,993+29147,012+21177,356

    Total Working Age Population:

    Total Households:

    Total Working Age Population:

    Total Households:

    Total Working Age Population:

    Total Households:

    No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

    Common Questions and Answers

    What is the asking price for 2421 Lebanon Pike in Nashville?
    The asking price for 2421 Lebanon Pike is $7,048,148
    What is the building size of this Retail property in Nashville, TN?
    The size of the building/unit at 2421 Lebanon Pike in Nashville is 14,490 square feet
    How much land does the Nashville, TN property at 2421 Lebanon Pike include?
    2421 Lebanon Pike in Nashville includes 1.600 acres of land
    What kind of Retail is the propery at 2421 Lebanon Pike?
    The property at 2421 Lebanon Pike Nashville, TN 37214 is listed as a Free Standing Building Retail property
    What is the population within 1 mile of 2421 Lebanon Pike in Nashville?
    The population within 1 mile of 2421 Lebanon Pike Nashville, TN 37214 is 4,931 people.
    Who do I contact for questions about 2421 Lebanon Pike?
    You should contact the listing agent, Gabriel Britti, for any details regarding this commercial listing.

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    Closest Commercial Airports

    Airport Distance (mi)
    Nashville International Airport (BNA) 3
    Huntsville International Carl T Jones Field (HSV) 106
    Chattanooga Metropolitan Airport (Lovell Field) (CHA) 114
    Price
    $7,048,148
    Listing Agent
    Listing Co-Agent
    Gabriel Britti - CRE Agent at Marcus & Millichap

    Ronnie Issenberg

    Independent Agent
    Listing Co-Agent
    Gabriel Britti - CRE Agent at Marcus & Millichap

    Ricardo Esteves

    Independent Agent
    More listings from Gabriel Britti
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