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1246 Lamar Ave
Memphis, TN 38104
Dollar Tree · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Long Lease Term
- Investment Grade Credit
- Strategic Location
- Attractive Rent Increases
- Strong Store Sales
- High Traffic Counts
EXECUTIVE SUMMARY
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a freestanding Dollar Tree investment property located at 1246 Lamar Avenue in Memphis, Tennessee (the “Property”). Dollar Tree has 4+ years remaining on their Double Net lease with three (3), 5-year renewal options. The lease features attractive rental increases at the beginning of each renewal option. Dollar Tree is adjacent to the intersection of US Highway 51 and Lamar Avenue (US Route 78), two of the area’s primary commercial and commuter corridors. The Property enjoys excellent visibility and frontage and is just seconds from Interstate 69. The Property is conveniently located just outside of Downtown Memphis and is close to the area’s national and local retailers, businesses, and schools driving traffic to the area. The Property is surrounded by densely populated residential neighborhoods and is just 0.5-miles from Central High School and the Methodist University Hospital, providing a built-in customer base.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,320 SF
Building Class
C
Year Built
2011
Price
$1,313,684
Price Per SF
$157.89
Cap Rate
7.60%
NOI
$99,840
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.86 AC
Zoning
CMU-3
Parking
24 Spaces (2.88 Spaces per 1,000 SF Leased)
Frontage
153’ on Lamar Ave
PROPERTY TAXES
| Parcel Number | 01-5001-0-0080 | Improvements Assessment | $386,480 |
| Land Assessment | $38,000 | Total Assessment | $424,480 |
PROPERTY TAXES
Parcel Number
01-5001-0-0080
Land Assessment
$38,000
Improvements Assessment
$386,480
Total Assessment
$424,480
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