Strip Center For Sale on Busy Summer Avenue

Retail-Commercial for Sale
Catylist Listing ID: 30296501
Property Subtypes: Mixed Use, Street Retail, Other
Building Size (RSF): 41,661 SF
Gross Land Area: 2 Acres
Sale Price: $1,450,000
Unit Price: $34.80 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Average Occupancy Rate: 85
Last Updated: 11/16/2018

Overview / Comments

Vibrant strip center on HIGHLY trafficked Summer Avenue. Back parking lot was recently repaved and restriped. AMPLE parking in rear. Store frontages have Summer sidewalk access as well as rear access. SO much activity going on in this neighborhood right now!

Additional Details

Nearest MSA: Memphis
County: Shelby
Taxing Authority: Shelby County
Tax ID/APN: 044040 00001C
Zoning: CMU-3
Retail Clientele: General
Property Located Between: Highland and Holmes
Property Visibility: Excellent
Largest Nearby Street: National
Feet of Frontage: 400
Traffic/Vehicle Count: 21,024
Highway Access: Close proximity to Sam Cooper and I-40
Airports: MEM
Area Description: Population - 27,410 Projected Growth - 5.18% Median Age - 37.8 Household Income - $37,637
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Average
Year Built: 1925
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Great presence on Summer Avenue with large windows and excellent visibility.
Total Parking Spaces: 104
Parking Type: Surface
Parking Description: Parking lot was repaved and striped in 2017. AMPLE parking in rear of building.
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: CMU-3
Lot Frontage: 400
Lot Depth: 287
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lot Dimensions: 399.79/199.52X299.58IRR/29 Plat Book and Page: 4-119

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,514 111,274 291,809
Median Age: 33.31 34.41 35.55
Households: 6,700 45,410 117,795

Contact

Photograph of Listing Agent

Jeff Waddell

Crye-Leike
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