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Restaurant

Pearl's Oyster House

8106 Cordova Center Dr, Memphis, TN 38016

Listing Price: $2,231,000

Cap Rate
6.65%
Tenant Name
Pearl's Oyster House
Years Remaining On Lease
2.1
Gross SF
7,650
Guarantor
Personal Guarantee
Rentable SF
7,650
Price/Gross SF
$291.63
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.39

Investment Overview

Pearl’s Oyster House serves a variety of fresh oysters and seafood at two locations in Tennessee: Downtown Memphis and Cordova. Bringing gulf coast favorites to Memphis, Pearl’s offers a wide variety of menu options including a fresh seafood selection, crab legs, lobster, shrimp and crab buckets, gumbo, Po-boys, steak and chicken, salad, shrimp and grits, pasta jambalaya, and more. Home to over 68,700 residents, Cordova is a city in Shelby County, Tennessee and a suburb of Memphis. Cordova is one of the fastest growing neighborhoods in Memphis. There are over 1,226 businesses with over 19,400 employees working in Cordova. Memphis is a city in southwestern Shelby County, Tennessee, located along the Mississippi River. The city is home to an estimated 633,100 residents, making it the state’s second-most populous city behind Nashville.

Investment Highlights

  • Absolute Triple-Net (NNN) Lease Term with Two Years Remaining and Three, Five Year Renewal Options
  • One and a Half Percent Annual Rental Increases
  • 159,808 Residents Within a Five-Mile Radius - Memphis MSA
  • Situated in Dense Retail Corridor with Numerous National Tenants - Kroger, Planet Fitness, HomeGoods, McDonald's, Marshalls, and More
  • High Traffic and Highly Visible Location Along Germantown Parkway (44,270 Cars per Day)
  • Less than Two Miles from the I-40 and Wolfchase Galleria
  • Average Household Income Exceeds $89,000 Within Five Miles of the Subject Property

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Restaurant

Pearl's Oyster House

Listing Price: $2,231,000

Cap Rate
6.65%
Tenant Name
Pearl's Oyster House
Years Remaining On Lease
2.1
Gross SF
7,650
Guarantor
Personal Guarantee
Rentable SF
7,650
Price/Gross SF
$291.63
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.39

Investment Highlights

  • Absolute Triple-Net (NNN) Lease Term with Two Years Remaining and Three, Five Year Renewal Options
  • One and a Half Percent Annual Rental Increases
  • 159,808 Residents Within a Five-Mile Radius - Memphis MSA
  • Situated in Dense Retail Corridor with Numerous National Tenants - Kroger, Planet Fitness, HomeGoods, McDonald's, Marshalls, and More
  • High Traffic and Highly Visible Location Along Germantown Parkway (44,270 Cars per Day)
  • Less than Two Miles from the I-40 and Wolfchase Galleria
  • Average Household Income Exceeds $89,000 Within Five Miles of the Subject Property

Investment Overview

Pearl’s Oyster House serves a variety of fresh oysters and seafood at two locations in Tennessee: Downtown Memphis and Cordova. Bringing gulf coast favorites to Memphis, Pearl’s offers a wide variety of menu options including a fresh seafood selection, crab legs, lobster, shrimp and crab buckets, gumbo, Po-boys, steak and chicken, salad, shrimp and grits, pasta jambalaya, and more. Home to over 68,700 residents, Cordova is a city in Shelby County, Tennessee and a suburb of Memphis. Cordova is one of the fastest growing neighborhoods in Memphis. There are over 1,226 businesses with over 19,400 employees working in Cordova. Memphis is a city in southwestern Shelby County, Tennessee, located along the Mississippi River. The city is home to an estimated 633,100 residents, making it the state’s second-most populous city behind Nashville.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

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