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5240 Summer Ave 9,877 SF of Retail Space Available in Memphis, TN 38122
Highlights
- Fully renovated in 2021, 5240 Summer Avenue features 9,877 SF of modern, move-in-ready space suitable for retail, service, or office users.
- High visibility is enhanced by both pylon & building signage, helping businesses capture traffic along the heavily traveled Summer Avenue corridor.
- 5240 Summer Avenue benefits from strong street presence and high average daily traffic counts exceeding 25,957 vehicles along Summer Avenue.
- Positioned just off Interstate 40, the property is located within one of Memphis’ most active commercial corridors, offering excellent visibility.
- Easily accessible via multiple ingress and egress points, the site is adjacent to the Interstate 40 Exit 12A on and off ramp at Summer Avenue.
- Within a 5-mile radius, the area supports over 194,419 residents with an average household income of $90,213 and strong buying power.
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 9,877 SF | 2-10 Years | $16.00 /SF/YR $1.33 /SF/MO $158,032 /YR $13,169 /MO | Triple Net (NNN) |
1st Floor
- Lease rate does not include utilities, property expenses or building services
- Space is an outparcel at this property
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
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Property Facts
| Total Space Available | 9,877 SF | Total Land Area | 1.30 AC |
| Property Type | Retail | Year Built/Renovated | 1991/2021 |
| Property Subtype | Restaurant | Parking Ratio | 10/1,000 SF |
| Gross Leasable Area | 9,877 SF |
| Total Space Available | 9,877 SF |
| Property Type | Retail |
| Property Subtype | Restaurant |
| Gross Leasable Area | 9,877 SF |
| Total Land Area | 1.30 AC |
| Year Built/Renovated | 1991/2021 |
| Parking Ratio | 10/1,000 SF |
About the Property
Positioned just off Interstate 40 within one of Memphis’ most active commercial corridors, 5240 Summer Avenue offers 9,877 square feet of space that was fully renovated in 2021, with a modern, move-in-ready setting ideal for retail, service, or office users seeking strong visibility and easy customer access. Visibility is further enhanced by pylon and building signage. Easily accessible via multiple ingress and egress points off Frontage Road, the property is situated between Frontage Road and the Interstate 40 Exit 12A on and off ramp at the signalized intersection of Summer Avenue. The property benefits from high daily traffic counts of 25,957 vehicles and strong street presence along Summer Avenue. Public transportation is also available through the Memphis Area Transit Authority (MATA), with Bus 53 stopping directly adjacent to the property at the Summer Avenue and Interstate 40 signalized intersection. Customers and employees alike will appreciate the convenient access and proximity to national retailers, including Lowe’s, Chick-fil-A, Planet Fitness, AutoZone, McDonald’s, and U-Haul, all within a mile of the property. More than 194,419 residents with an average household income of $90,213, supports the 5-mile trade area surrounding 5240 Summer Avenue. This robust demographic base contributes to a strong labor pool, thriving consumer market, and total consumer spending exceeding $2.2 billion. With its strategic location, strong traffic counts, and proximity to retail amenities, 5240 Summer Avenue is an ideal location for businesses seeking exposure, accessibility, and long-term growth within the Memphis market.
- 24 Hour Access
- Bus Line
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Air Conditioning
Demographics
Demographics
Nearby Major Retailers
Contact the Leasing Agent
5240 Summer Ave