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The Village Of Hickory Ridge - Memphis, TN 3538-3582 Hickory Hill Rd 17,194 SF 50% Leased Retail Building Memphis, TN 38115 $1,900,000 ($110.50/SF) 8.68% Cap Rate
Investment Highlights
- The Village of Hickory Ridge is a multi-tenant retail strip center located at 3538–3582 Hickory Hill Road in Memphis, TN.
- The Village of Hickory Ridge serves the daily needs of the surrounding community and is well-positioned for long-term retail demand.
- Built in 1984, the property features a total building size of 17,194 SF on a 1.4-acre lot with 17 units and current occupancy of 35%.
- The center benefits from strong visibility, convenient access, and proximity to major thoroughfares.
- The estimated population within 3 miles is approximately 95,333 residents. The average household income within 3 miles is approximately $69,180.
Executive Summary
The Village of Hickory Ridge is a 17,194 SF, multi-tenant retail strip center located at 3538–3582 Hickory Hill Road in Memphis, TN. Built in 1984 and situated on approximately 1.4 acres. The property consists of 17 retail units designed to serve the surrounding neighborhood.
The asset is currently 35% occupied and offered at an 8.68% CAP rate based on a current Pro Forma NOI of $164,871, with an asking price of $1,900,000 (~$111 PSF). This presents a compelling value-add opportunity for investors to increase cash flow through the lease-up of vacant space and the implementation of market rental rates.
In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394
The asset is currently 35% occupied and offered at an 8.68% CAP rate based on a current Pro Forma NOI of $164,871, with an asking price of $1,900,000 (~$111 PSF). This presents a compelling value-add opportunity for investors to increase cash flow through the lease-up of vacant space and the implementation of market rental rates.
In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
17,194 SF
Building Class
B
Year Built
1984
Price
$1,900,000
Price Per SF
$110.50
Cap Rate
8.68%
NOI
$164,871
Percent Leased
50%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
1.40 AC
Zoning
Commercial - Commercial
Parking
77 Spaces (4.48 Spaces per 1,000 SF Leased)
Frontage
470’ on Hickory Hill Rd
Amenities
- Bus Line
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Corey McCray
- Retailer
- 830 SF
- -
- -
- Larry Crum & Associates, LLC
- Finance and Insurance
- 760 SF
- $11.05
- -
- Payne's Family Dentistry
- Health Care and Social Assistance
- 1,826 SF
- $12.16
- -
- Tabitha Gray
- Retailer
- 697 SF
- $14.63
- Apr 2027
- True Beauty Salon Suites
- Retailer
- 1,634 SF
- $13.95
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Corey McCray | Retailer | 830 SF | - | - | ||
| Larry Crum & Associates, LLC | Finance and Insurance | 760 SF | $11.05 | - | ||
| Payne's Family Dentistry | Health Care and Social Assistance | 1,826 SF | $12.16 | - | ||
| Tabitha Gray | Retailer | 697 SF | $14.63 | Apr 2027 | ||
| True Beauty Salon Suites | Retailer | 1,634 SF | $13.95 | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 3544
- 697 SF
- Retail
- -
- Now
- 3548
- 760 SF
- Retail
- In-Line
- Now
- 3550
- 588 SF
- Retail
- -
- Now
- 3552
- 1,644 SF
- Retail
- In-Line
- Now
- 3556
- 766 SF
- Retail
- In-Line
- Now
- 3558
- 1,520 SF
- Retail
- -
- Now
- 3564-66
- 1,762 SF
- Retail
- -
- Now
- 3578
- 913 SF
- Retail
- In-Line
- 30 Days
- 3582
- 908 SF
- Retail
- End Cap
- Now
| Space | Size | Space Use | Position | Available |
| 3544 | 697 SF | Retail | - | Now |
| 3548 | 760 SF | Retail | In-Line | Now |
| 3550 | 588 SF | Retail | - | Now |
| 3552 | 1,644 SF | Retail | In-Line | Now |
| 3556 | 766 SF | Retail | In-Line | Now |
| 3558 | 1,520 SF | Retail | - | Now |
| 3564-66 | 1,762 SF | Retail | - | Now |
| 3578 | 913 SF | Retail | In-Line | 30 Days |
| 3582 | 908 SF | Retail | End Cap | Now |
3544
| Size |
| 697 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
3548
| Size |
| 760 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
3550
| Size |
| 588 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
3552
| Size |
| 1,644 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
3556
| Size |
| 766 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
3558
| Size |
| 1,520 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
3564-66
| Size |
| 1,762 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
3578
| Size |
| 913 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
3582
| Size |
| 908 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
Nearby Major Retailers
Property Taxes
| Parcel Number | 09-3400-0-0232 | Improvements Assessment | $281,000 |
| Land Assessment | $91,600 | Total Assessment | $372,600 |
Property Taxes
Parcel Number
09-3400-0-0232
Land Assessment
$91,600
Improvements Assessment
$281,000
Total Assessment
$372,600
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The Village Of Hickory Ridge - Memphis, TN | 3538-3582 Hickory Hill Rd
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