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1863 UNION AVE
MEMPHIS, TN 38104
Asking Price
$5.16M
Cap Rate
6%
Asset Type
Pharmacy/Drug Retail
Class
Class B
What's Special
#1 Walgreens in TN with Future Development Potential <ul><li><strong>Corporate Ground Lease with 49 Years of Remaining Lease Term</strong> </li><li><strong>Placer.ai Ranks the Store in the 99th Percentile Nationally (11th / 6,724) and the #1 Store in TN Out of 243 Walgreens Stores</strong></li><li><strong>Absolute NNN - No landlord Responsibilities </strong></li><li><strong>Large 2.29 Acre Parcel With Future Development Potential - Infill Midtown Memphis Location – 27,000 Vehicles Per Day</strong></li><li><strong>Dense Urban Area – Property S
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NOI
$80,000
Cap Rate
1.55%
DSCR
0.26
Underwater
Cash-on-Cash
-14.62%
Monthly Payment
$25,518.97
Annual Cash Flow
$-226,227.636
