POPLAR CORNER 2847 Poplar Ave 7,420 SF 73% Leased Retail Building Memphis, TN 38111 $4,250,000 ($572.78/SF)

Poplar Corner presents a rare opportunity to acquire a Class A, multi-tenant retail and office investment strategically positioned at one of Memphis’ most iconic intersections, Poplar, Union, and Walnut Grove.

Built in 2022, this premier ±7,420-square-foot retail/office asset offers exceptional visibility, modern construction, and strong tenancy, making it an ideal long-term hold in a supply-constrained corridor. Long-term national tenants anchor the building, delivering stability and predictable income. The facility is ±75% occupied by industry-leading communications provider, Xfinity, as well as the US Army Reserves, on leases running through 2031 and 2030, respectively. The remaining 1,980-square-foot end cap space is vacant, providing an immediate value-add component for inventors. The property is situated on a 0.76-acre lot, with on-site parking for 28 vehicles, attractive landscaping, and prominent monument signage.

Offering robust exposure and convenient accessibility, Poplar Corner presents an attractive option for growing retailers and office tenants. More than 47,000 vehicles can see the property from the intersection of Poplar, Union, and Walnut Grove each day, providing key placement for traffic-oriented businesses. The site benefits from convenient proximity to some of Memphis' main economic drivers, including the Medical District (20,000+ jobs / 10,000 students), Downtown Memphis (89,000+ white collar jobs), and the Poplar/I-240 Office Hub (100,000+ jobs). This high-growth region has over $14 billion in capital investment underway, including St. Jude's $12.9 billion expansion and the $1.5 billion Regional One redevelopment project.

Investors in Poplar Corner will be able to leverage the local submarket’s tight availabilities and stable rent growth when looking to fill the final vacancy. Currently, retail vacancies in the area sit at just 4.7%, while rents have climbed by 2.5% during the past 12 months. This trend aligns with recent developments in the submarket, where rents have increased by an average of 4.3% annually over the past five years. Retailers in the area enjoy strong support from a sizeable customer base when looking within just 3 miles of the property. More than 114,000 residents live in the area, commanding an average household income of more than $71,000, resulting in impressive annual spending of more than $1.2 billion.

Claim a performing retail and office investment with untapped growth potential and a prime location fronting one of the busiest intersections in Memphis at Poplar Corner. Contact the Gill Properties team today to schedule a tour and learn more about this incredible opportunity.