3202 Austin Peay Hwy
Memphis, TN 38128
Jiffy Lube - 8% Cap 10% Bumps - 8+ Years · Retail Property For Sale

Bailey Real Estate Advisors is pleased to present the Jiffy Lube located at 3202 Austin Peay Highway in Memphis, Shelby County, Tennessee 38128. The Property is 0.66 acres and has a free-standing auto lube service building with concrete and asphalt parking and drives. The property is of masonry construction with a built-up roof. The auto lube center is occupied by a Team Car Care (540 Units) operating as a Jiffy Lube, with an absolute Net lease agreement that expires in 2027. The property is located on Austin Peay Hwy, a six-lane roadway with an additional single turn lane. It has curb/gutter, street lights, storm sewer and sidewalks. For 2018, within a seven minute drive time from the property, an average of $366.56 per household was spent on services similar to those provided by Jiffy Lube, for a total of $8,652,989. Additionally the Section of Austin Peay Highway adjacent to the Property has 36,000 vehicles traveling the highway per day. With the high visibility street view coupled with large traffic counts, as well as impressive expenditures of auto maintenance provide for stability for sustained business. The general neighborhood of the subject is commonly referred to as Raleigh. The neighborhood is approximately 70% to 80% developed, and a wide variety of land uses are represented. commercial land uses are concentrated along the major thoroughfares with residential and service oriented properties located along interior streets. Properties in the neighborhood include low to moderate density single-family housing, strip retail centers, community retail centers.