Retail or Office For Lease

Retail-Commercial for Sale
Catylist Listing ID: 30296497
Property Subtypes: Mixed Use, Restaurant, Street Retail, Other
Building Size (RSF): 41,661 SF
Gross Land Area: 2 Acres
Sale Price: $1,500,000
Unit Price: $36 PSF
Property Use Type: Investment
Usable Size (USF): 41,661 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Average Occupancy Rate: 80
Last Updated: 11/20/2018

Overview / Comments

Bustling strip center with long-term tenants. Parking lot in rear recently repaved. Excellent corner location with high auto and foot traffic.

Additional Details

Nearest MSA: Memphis
County: Shelby
Taxing Authority: Shelby County
Tax ID/APN: 044040 00001C
Zoning: CMU-3
Retail Clientele: General, Family
Property Located Between: Summer @ National
Property Visibility: Excellent
Largest Nearby Street: National
Feet of Frontage: 420
Traffic/Vehicle Count: 21,024
Highway Access: Just minutes away from Sam Cooper Blvd. and I-240
Airports: MEM
Area Description: Highland Heights includes the area bounded by Summer Avenue (also known as U.S. Highways 70 & 79, on the south, Pope Street on the west, Macon Road on the north, and Homer Street on the east.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Average
Year Built: 1925
Roof Type: Flat
Construction/Siding: Brick
Parking Description: AMPLE parking in rear of building!
Sprinklers: None
Heat Source: Central
Air Conditioning: Package Unit
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 commercial type, but serve large areas of the City and County.
Lot Frontage: 420
Lot Depth: 300
Water Service: Municipal
Sewer Type: Municipal

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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


Photograph of Listing Agent

Jeff Waddell

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