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5091 Park Ave 2,000 SF Retail Building Memphis, TN 38117 $1,400,000 ($700/SF) 6.67% Cap Rate
Executive Summary
Absolute Net Ground Lease for Sale.
New listing: 5091 Park Avenue, fully leased Back Yard Burgers, for sale. Lease is absolute net with no landlord responsibilities. Base term ends 11/30/2035 with below-market rent. Renewal option for an additional 5-year term with 120 days' notice to landlords.
Please see full Offering Memorandum for full details.
New listing: 5091 Park Avenue, fully leased Back Yard Burgers, for sale. Lease is absolute net with no landlord responsibilities. Base term ends 11/30/2035 with below-market rent. Renewal option for an additional 5-year term with 120 days' notice to landlords.
Please see full Offering Memorandum for full details.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,000 SF
Building Class
B
Year Built
1994
Price
$1,400,000
Price Per SF
$700
Cap Rate
6.67%
NOI
$93,390
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.45 AC
Zoning
CL
Parking
20 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
- Drive Thru
Walk Score®
Very Walkable (75)
Nearby Major Retailers
Property Taxes
| Parcel Number | 06-7002-0-0005C | Improvements Assessment | $96,400 |
| Land Assessment | $129,320 | Total Assessment | $225,720 |
Property Taxes
Parcel Number
06-7002-0-0005C
Land Assessment
$129,320
Improvements Assessment
$96,400
Total Assessment
$225,720
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5091 Park Ave
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