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5325 Summer Ave
Memphis, TN 38122
Circle K · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Value-Add Opportunity – Circle K has approximately 10 months remaining on its current lease term, with one five-year renewal option
- Prime Retail Corridor – The property is located in a prime, high-traffic retail corridor near NAPA Auto Parts and Restaurant Depot
- Freeway Adjacent Location – The property not only benefits from seeing 38,500 VPD directly on Summer Avenue (Highway 64)
- World Class Tenant – Circle K, the second-largest convenience store chain in the U.S. with approximately 6,800 locations
- Attractive Rental Increases – Circle K leases typically include 10% rent escalations every five years.
- Long Term Operating History – Circle K (formerly MAPCO) will have operated at this location for nearly 40 years as of next year
EXECUTIVE SUMMARY
Broker of Record
Hutt Cooke
License # 263667 (TN)
Matthews Real Estate Investment Services
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Hutt Cooke
License # 263667 (TN)
Matthews Real Estate Investment Services
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,199 SF
Building Class
C
Year Built
1987
Price
$1,327,617
Price Per SF
$603.74
Cap Rate
5.12%
NOI
$67,974
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.83 AC
Zoning
C-H - Commercial
Parking
20 Spaces (9.41 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 06-8001-0-0031 | Improvements Assessment | $87,560 |
| Land Assessment | $90,760 | Total Assessment | $178,320 |
PROPERTY TAXES
Parcel Number
06-8001-0-0031
Land Assessment
$90,760
Improvements Assessment
$87,560
Total Assessment
$178,320
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