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- LoopNet Team
4625 Summer Ave
Memphis, TN 38122
Retail Property For Sale
PROPERTY FACTS
AMENITIES
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
ABOUT 4625 SUMMER AVE , MEMPHIS, TN 38122
Quantum Real Estate Advisors, Inc. (“QREA”) has been retained to exclusively offer for sale a Walgreens property located at 4625 Summer Ave, Memphis, TN. The collateral being conveyed is comprised of two elements; a fee-simple interest in roughly 2/3 of an acre of land and a leasehold interest in a +/- 16,060 SF Walgreens building. The building sits on roughly 1.47 acres and is subject to a ground lease. This fee-simple interest in the land provides an investor a unique opportunity of higher depreciation during the course of Walgreens occupancy along with residual value in the land should Walgreens ever vacate the property. In addition, Walgreens pays the ground rent direct to the ground lessor, making this a truly passive investment. Built in 2002, this a top performing Walgreens with consistent reported sales of $4.2M+, which is well above average. The property is located at the corner of Summer Avenue and Perkins Road, which sees over 28,000 vehicles per day. Although this is a heavily retailed area, there is limited competition for Walgreens, which is evidenced by the strong sales numbers.
PROPERTY TAXES
| Parcel Number | 06-3024-0-0002 | Improvements Assessment | $1,537,680 |
| Land Assessment | $219,480 | Total Assessment | $1,757,160 |
PROPERTY TAXES
