Drive Thru Restaurant Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30356842
Property Subtypes: Restaurant
Building Size (RSF): 2,613 SF
Gross Building Area: 2,631 SF
Gross Land Area: 0.67 Acres
Sale Price: $228,000
Unit Price: $87.26 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Sheridan's Frozen Custard
Usable Size (USF): 2,631 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/18/2018

Overview / Comments

CRYE-LEIKE COMMERCIAL is pleased to present this high-profile, turn-key drive-thru opportunity located in Memphis' near northeast submarket. This building makes an impressive statement and offers great signage on Stage Road. Great exposure with over 30,000 vehicles per day past your front door. Large covered patio seating area. Build in freezer and cooler. Office. Storage room. Single restroom.

THIS SALE IS FOR THE BUILDING ONLY. IT CAN ALSO BE SUBLET AT $5200/MO NNN. THERE IS A $2800/MO GROUND LEASE IN PLACE UNTIL 2025 WITH RENEWAL OPTION.

Additional Details

Nearest MSA: Memphis
County: Shelby
Taxing Authority: Memphis City
Tax ID/APN: 09102500031
Zoning: COMMERCIAL- CL
Retail Clientele: General
Property Located Between: Summer Avenue and Kirby-Whitten
Property Visibility: Excellent
Largest Nearby Street: Summer Avenue
Feet of Frontage: 285
Traffic/Vehicle Count: 30,000
Highway Access: Easy access to Highway 40
Airports: Memphis International Airport
Site Description: Single-Tenant Net Lease One-Story Building on ground lease. Located on pad in neighborhood shopping center.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,613 SF
Property Condition: Excellent
Year Built: 2005
Roof Type: Flat
Construction/Siding: Stucco
Parking Type: Surface
Lot Frontage: 285.26
Lot Depth: 102.51
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Ground Lease

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,976 85,020 212,567
Median Age: 40.32 36.68 35.71
Households: 4,450 33,058 79,220
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