Strip Center For Sale on BUSY Summer Avenue

Shopping Center for Sale
Catylist Listing ID: 30276355
Property Subtypes: Strip Center
Building Size (RSF): 14,700 SF
Gross Land Area: 1.24 Acres
Sale Price: $1,650,000
Unit Price: $112.24 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 8/6/2018

Overview / Comments

Excellent strip center has 10 suites, with anchor tenant Cycle Gear occupying 3 of those suites. Average 90% occupancy. Ample parking, road signage, 8 metal roll-up doors in rear.

Attachments & Media

Additional Details

Nearest MSA: Memphis
County: Shelby
Taxing Authority: Shelby County
Tax ID/APN: 089025 C00013
Zoning: CMU-3
Retail Clientele: General
Property Located Between: Summer @ Summer Gale
Property Visibility: Excellent
Largest Nearby Street: Elmore
Feet of Frontage: 280
Traffic/Vehicle Count: 18,562
Airports: MEM
Site Description: Corner lot with great visibility!
Area Description: Located on the edge of Memphis and Bartlett, right across the street from the Tennessee Highway Patrol Station.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 14,700 SF
Property Condition: Good
Year Built: 2004
Roof Type: Flat
Construction/Siding: Concrete
Parking Type: Structure
Total Parking Spaces: 42
Sprinklers: None
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: The CMU-3 District is intended to accommodate a very board range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations with direct access to arterials. Residential uses are allowed on the ground floor but upper story units are encouraged. Typical uses in this district serve regional needs. The permitted uses are generally uses not of a neighborhood or general connmercial type, but serve large areas of the City and County.
Lot Frontage: 280
Lot Depth: 198
Water Service: Municipal
Sewer Type: Municipal
Legal Description: • Parcel ID: 089025 C00013 • Municipal Jurisdiction: MEMPHIS • Neighborhood Number: 00604C52 • Map Page: 106M • Acres: 1.2370 • Lot Dimensions: 198.37 X 280.15 (IRR) • Subdivision Name: BARTLETT COMM CENTER PD PHASE 1 • Subdivision Lot Number: 13 • Plat Book and Page: 224-035

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,368 100,326 231,421
Median Age: 36.86 36.27 35.8
Households: 3,245 37,643 87,521

Contact

Photograph of Listing Agent

Jeff Waddell

Crye-Leike
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