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Shopping Strip

2845 N Houston Levee Rd

2845 N Houston Levee Rd, Memphis, TN 38016

Listing Price: $3,250,000

Cap Rate
4.00%
Gross SF
13,900
Rentable SF
10,000
Price/Gross SF
$233.81
Lot Size
4.00 acres
Year Built
2004

Investment Overview

This Center is Located in the Highway 64/Houston Levee area, and in the fact-growing Lakeland/Arlington Area. The property is 5.64 acres in total and consists of 2 parcels, and can be sold together or separately. 1. The Strip Retail Center containing a restaurant, a dental office, and a financial services office. It has one fully finished out office bay which is vacant, and three other bays used by current owner available for leasing. Current market rents are $16-$17 PSF gross. There is good upside potential given the length of time the existing tenants have been in place. 2. Approximately 1.5-2.6 acres land adjacent to center. There is space for connecting two points of ingress with a frontage road. This is an ideal site for a Car Wash, QSR, Other Free Standing Net Lease Options. The purchase will require a recorded parking easement with a neighboring center

Investment Highlights

  • Prime Outparcel Net-Lease Opportunity
  • In Memphis - < 2 Miles from "Lake District" Development
  • Sewer Connections

Exclusively Listed By

Shopping Strip

2845 N Houston Levee Rd

Listing Price: $3,250,000

Cap Rate
4.00%
Gross SF
13,900
Rentable SF
10,000
Price/Gross SF
$233.81
Lot Size
4.00 acres
Year Built
2004

Investment Highlights

  • Prime Outparcel Net-Lease Opportunity
  • In Memphis - < 2 Miles from "Lake District" Development
  • Sewer Connections

Investment Overview

This Center is Located in the Highway 64/Houston Levee area, and in the fact-growing Lakeland/Arlington Area. The property is 5.64 acres in total and consists of 2 parcels, and can be sold together or separately. 1. The Strip Retail Center containing a restaurant, a dental office, and a financial services office. It has one fully finished out office bay which is vacant, and three other bays used by current owner available for leasing. Current market rents are $16-$17 PSF gross. There is good upside potential given the length of time the existing tenants have been in place. 2. Approximately 1.5-2.6 acres land adjacent to center. There is space for connecting two points of ingress with a frontage road. This is an ideal site for a Car Wash, QSR, Other Free Standing Net Lease Options. The purchase will require a recorded parking easement with a neighboring center

Exclusively Listed By

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