Walgreens Knoxville, TN

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Property

Overview

This 14,112 square foot NN Walgreen’s is strategically located at the hard, signalized intersection of Clinton Highway and Merchants Drive, seeing a combined 60,000 plus vehicles per day passing by the property. There are over 154,000 people living within a five-mile radius of the property earning an average household income of over $53,000 per year.

This 24-hour Walgreens features a double drive-thru and has excellent visibility and signage. Walgreens has successfully operated at this location since 1999 and has over 9 years remaining on their primary lease term with five 5-year renewal option periods. Walgreens is committed to this location as evidenced by their recent lease extension. National retailers located in the area include Walmart, Lowe’s, Target, and all household names in casual dining and QSR’s.

Walgreens is the largest drug retailing chain in the United States and has over 8,175 locations in the United States. Walgreens is publicly traded on the Nasdaq Stock Market (symbol: WBA) with a market capitalization in excess of $88 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.

Key Facts

  • Property

  • • Over 154,000 within a 5-mile radius
  • • 14,112 square feet
  • • 24-hour location
  • • Double drive-thru
  • • Long-term history at property (since 1999) with recent lease extension
  • • Over 9 years remaining on lease-term
  • Walgreen's

  • • Investment grade tenant (S&P BBB)
  • • Publicly traded on the Nasdaq (symbol: WBA)
  • • Market cap in excess of $88 Billion
  • • Growing retailer with pending deal to acquire 2,168 stores from Rite-Aid (RAD)

Address

5320 Clinton Hwy.
Knoxville, TN 37912

Location

Team

avatar

Geoff Ficke

Marcus & Millichap
972.755.5262 geoff.ficke@marcusmillichap.com

Downloads

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Demographics

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Demos

1 Mile 3 Mile 5 Mile
Population 7,500 57,801 154,975
Households 3,170 24,656 64,222
Average Household Income $50,315 $47,754 $53,088

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