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3615-3619 Summer Ave 10,323 SF 42% Leased Retail Building Memphis, TN 38122 $825,000 ($79.92/SF) 9.09% Cap Rate
Investment Highlights
- High Traffic Shopping Center
- Just East of Highland on Summer Ave.
- Well Maintained
Executive Summary
12,000+/- s.f. Retail Center on Summer, just East of Highland. Financials are a Pro-Forma estimate. Currently 1/2 full, with one Vacancy. Sold as is, subject to buyer inspections. May be sold as a package with 620 Servier Adjacent Office Building ($325,000). Long term Retail Center on Summer Avenue. Advance Muffler. Great Traffic, Large open Spaces.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
10,323 SF
Building Class
C
Year Built
1966
Price
$825,000
Price Per SF
$79.92
Cap Rate
9.09%
NOI
$75,000
Percent Leased
42%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
0.80 AC
Zoning
C-H
Parking
20 Spaces (1.94 Spaces per 1,000 SF Leased)
Frontage
159’ on Summer Ave
Amenities
- Bus Line
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Advance Muffler & Auto Service
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Advance Muffler & Auto Service | Retailer | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 04-4089-0-0013 | Total Assessment | $172,880 (2025) |
| Land Assessment | $71,640 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $101,240 (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
04-4089-0-0013
Land Assessment
$71,640 (2025)
Improvements Assessment
$101,240 (2025)
Total Assessment
$172,880 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026 Payable 2026
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Contact the Sale Advisor
3615-3619 Summer Ave