Log In/Sign Up
Your email has been sent.
2981 Park Ave
Memphis, TN 38114
Retail Property For Sale
Investment Highlights
- Established Retailer with Private-Equity Backing
- Outstanding Sales Figures & Recent Tenant Improvements
- Strong Access & Visibility
- Proximity to The University of Memphis
- Excellent Residual Value
- Location near On/Off Ramps of U.S. Route 78
Executive Summary
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the Family Dollar property located in Memphis, Tennessee (“The Property”). The Property consists of a 9,180-square-foot freestanding retail building on a 0.89-acre parcel of land. Family Dollar is operating under a NN (R&S) lease with limited landlord responsibilities. Additionally, Family Dollar is paying a relatively low rent per square foot of $8.00, creating excellent residual value for a potential investor. This lease also features 3 x 5-year extension options with 10% rent escalations at the beginning of each term, offering investors a hedge against inflation.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
9,180 SF
Building Class
B
Year Built
2004
Price
$816,000
Price Per SF
$88.89
Cap Rate
9%
NOI
$73,440
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
0.89 AC
Zoning
CL - Commercial
Parking
32 Spaces (3.49 Spaces per 1,000 SF Leased)
Frontage
157’ on Park Ave
Amenities
- Bus Line
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 05-9002-0-0051 | Improvements Assessment | $373,880 |
| Land Assessment | $65,640 | Total Assessment | $439,520 |
Property Taxes
Parcel Number
05-9002-0-0051
Land Assessment
$65,640
Improvements Assessment
$373,880
Total Assessment
$439,520
1 of 3
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
