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Investment Highlights

  • Turnkey Medical Office | 10,496-square-foot medical office delivered vacant and ready for immediate owner-user occupancy.
  • Freestanding Owner-User Opportunity – Acquire and control a dedicated medical facility without the limitations of a multi-tenant office setting.
  • Avoid Costly Medical Conversion – Existing medical-grade improvements can reduce the cost & timeline associated with converting office space.
  • Previously occupied by a long-term family medicine and OB/GYN practice, offering a proven outpatient healthcare location.
  • Strong Hickory Hill Road Frontage – Direct frontage on a major southeast Memphis corridor with strong visibility and convenient patient access.
  • Flexible Healthcare Layout – Two floors of existing clinical and administrative space can accommodate a range of outpatient medical specialties.

Executive Summary

Zeustra Healthcare Real Estate Advisors is pleased to present 3530 Hickory Hill Road, a rare opportunity to acquire a fully built-out, freestanding medical office facility in southeast Memphis, Tennessee. The 10,496-square-foot, two-story building sits on approximately 1.12 acres with direct frontage on Hickory Hill Road, 35+ surface parking spaces, prominent visibility, and an existing medical configuration designed to significantly reduce the time and capital required for a healthcare group to establish or expand operations.

Unlike conventional office space requiring a costly medical conversion, 3530 Hickory Hill Road has an established history of physician use and is already configured for outpatient care, including exam and clinical areas, reception and waiting space, administrative offices, and supporting medical-office infrastructure.

For an owner/user, the opportunity is particularly compelling: acquiring an existing medical facility can eliminate much of the construction cost, permitting risk, and lengthy build-out period. The building is being delivered vacant, allowing a physician group, specialty practice, outpatient provider, or healthcare organization to control its real estate and establish operations on its own timeline. The OM's interior photography demonstrates the existing clinical layout, including reception/waiting areas, exam rooms, and physician office space.

The property also benefits from its position within a substantial Memphis healthcare ecosystem. Saint Francis Hospital–Memphis is approximately four miles away and operates a 519-bed hospital on a 42-acre medical campus, while Baptist Memorial Hospital–Memphis is approximately seven miles away and operates a 706-bed flagship hospital on an 80-acre medical campus. Baptist Memorial is ranked the No. 1 hospital in the Memphis metropolitan area and No. 2 hospital in Tennessee for 2025–2026 and serves as a major referral center for patients throughout the Mid-South.

3530 Hickory Hill Road offers something increasingly difficult to replicate: an appropriately sized, freestanding medical building that can be occupied substantially faster than a ground-up development or major medical conversion. For practices evaluating whether to continue leasing, relocate, consolidate locations, or establish a permanent Memphis presence, the property provides the ability to pair operational control with long-term ownership of the underlying real estate.

Matterport 3D Tour

3D Exterior

Offering Memorandum Click Here to Access

Data Room Click Here to Access

Market Analytics Click Here to Access

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Market Sale Price per SF

Memphis - TN USA

Market Cap Rate

Memphis - TN USA

Market Sale Price per SF by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Cap Rate by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Sale Price per SF Distribution

Market Cap Rate Distribution

Property Facts

Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Property Subtype
Medical
Building Size
10,496 SF
Building Class
C
Year Built
1988
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
5,963 SF
Slab To Slab
10’
Building FAR
0.21
Lot Size
1.12 AC
Parcel Number
09-3400-0-0233
Zoning
O-G - Medical
Parking
35 Spaces (3.33 Spaces per 1,000 SF Leased)

Amenities

  • Bus Line
  • Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100

About 385 Corridor

The 385 Corridor is home to some of the most affluent and highly educated suburbs in Memphis. Median household incomes exceed $100,000 in many neighborhoods here, and more than 50% of the adult population in the 385 Corridor holds a bachelor’s degree or above. These factors help provide a strong local labor force for office-using employers looking to relocate to or expand in the 385 Corridor.

FedEx is by far the largest office-using employer in this part of Memphis, and the international transportation firm’s headquarters is located here. The presence of FedEx leads to additional spillover demand from other office-using firms that seek proximity to the multinational conglomerate. Other major office tenants here include IMC Companies, Thyssenkrupp, and Orgill.

Suburban-style, low-rise office properties are predominant in this area. Most offices here have abundant surface parking and are located along major thoroughfares, allowing for easy commute times from Memphis’ major population centers. Office properties in the 385 Corridor often trade at a premium compared to the Memphis average owing to the relatively high-quality stock here as well as the overall desirability of this suburban locale.

Demographics

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
1 mile
3 mile
5 mile
2025 Population
15,378
91,837
193,327
2020 Population
16,057
96,765
204,102
2030 Population
15,084
89,875
189,265
2025-2030 Projected Population Growth
-1.9%
-2.1%
-2.1%
Daytime Employees
3,938
35,106
133,882
Total Businesses
565
3,551
12,624
Average Household Income
$55,627
$71,356
$89,165
Median Household Income
$44,697
$55,885
$67,595
Total Consumer Spending
$123.2M
$834.2M
$2.1B
Median Age
32.0
33.7
35.7
2025 Households
6,332
34,899
75,356
Percent College Degree or Above
8%
12%
17%
Average Home Value
$186,316
$252,033
$317,756

Sale Advisor

Sale Advisor

Ryan Lupo, Vice President
Being the Vice President at Zeustra, Ryan brings extensive deal experience and an unwavering commitment to securing the best possible outcomes for his clients. Specializing in medical real estate, Ryan has built a reputation for successfully navigating complex transactions and overcoming challenges with precision, dedication, and a client-first approach.

As part of Zeustra, a leading independent strategic advisory firm focused exclusively on healthcare, Ryan leverages a full-service business model to deliver unparalleled real estate and M&A advisory services. Whether guiding private practice owners, healthcare systems, or institutional investors, Ryan’s ability to provide tailored, data-driven solutions ensures maximum value and long-term success.

From monetizing real estate and financing acquisitions to negotiating leases and selling practices, Ryan and the Zeustra team combine innovative strategies with personalized service to meet the unique needs of their clients. Ryan’s deep expertise and passion for helping clients achieve their goals make him a trusted partner in the ever-evolving healthcare real estate market.

About the Auction Technology

Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
Read More

Auction Contact

Marlo Lashley
Auctioneer License: Ten-X Arlene Richardson RE Brkr 265318. (888) 952-6393
  • Listing ID: 40738977

  • Date on Market: 6/12/2026

  • Last Updated:

  • Address: 3530 Hickory Hill Rd, Memphis, TN 38115

3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000

Contact the Sale Advisor

Medical User Opp. | Well-Established Office | 3530 Hickory Hill Rd

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