STREAM Capital Partners > Properties > All Properties > Walgreens

Walgreens

Net Lease

950 North Washington Ave, Cookeville, Tennessee
Ownership Type:
Fee Simple
Price:
$4,568,571
Cap Rate:
6.65%
Current Rent:
$303,810
Tenancy:
Single Tenant
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date::
Approx. 13.5 years
Renewal Options:
3, 5-year options
Building Sq. Ft.:
16,530 SF
Rent Increases:
5% Every 5 Years
Site Size:
1.16 Acres

Investment Highlights

  • Long Term Commitment: Absolute NNN lease with 13+ years remaining.
  • Strong Sales: Tenant reported sales of $3.4mm in 2023
  • Rent Increases: Lease calls for 5% rental increases every 5 years throughout the term
  • Well Situated: Positioned on the corner of Washington Ave. and East 10th Street which averages 29,000 VPD and located adjacent to Tennessee Tech which has enrollment of 10,511 students.
  • Growing Demographic: Cookesville is projected to have an 8% increase in population growth over the next 5 years.
  • Tax Free State: TN is an income tax free state
Ownership Type:
Fee Simple
Price:
$4,568,571
Cap Rate:
6.65%
Current Rent:
$303,810
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date::
Approx. 13.5 years
Renewal Options:
3, 5-year options
Building Sq. Ft.:
16,530 SF
Rent Increases:
5% Every 5 Years
Site Size:
1.16 Acres

Listing Agents

Connor Shell

Managing Director
407.913.9009[email protected]

Graham Gold

Vice President
314 324 8792[email protected]

Jordan Shtulman

Managing Principal
847.226.4133[email protected]

Analyst

Ben Hollis

Analyst
256.595.2574[email protected]

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