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3119 3Rd StMemphis, TN 38109

1.04-Acre Ground Lease, 11,760 SF

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional commercial property, located at 3119 South Third Street in Memphis, Tennessee, presents a unique ground lease opportunity. The 1.04-acre lot houses a 11,760 square foot retail strip center, currently entirely vacant, offering significant potential for redevelopment or lease to multiple tenants. Built in 1968, the Class C building provides a substantial footprint for a variety of retail uses. The entire space is available, with no minimum divisible unit size, allowing for complete flexibility in tenant selection and lease structuring. The property's location in Shelby County, zip code 38109, offers excellent visibility and accessibility. The expansive 11,760 square feet of vacant space presents a blank canvas for a new business venture or a strategic expansion for an existing one. This is an ideal opportunity for investors or developers seeking a prime location in a growing Memphis market. The property's size and location make it suitable for a wide range of retail concepts. The ground lease structure offers a unique investment opportunity with potential for long-term growth and return. This property is ready for immediate occupancy and offers significant upside potential. Contact us today to learn more about this exciting opportunity.

Highlights

  • 1.04-acre lot available for ground lease.
  • High traffic count of 36,917 vehicles per day.
  • Strong demographics in the surrounding neighborhood.
  • Located on a signalized corner providing excellent visibility.

Property Details for 3119 3Rd St

Property type
Neighborhood centers, Retail properties
RSF (Rentable sq. ft)
11,760 SF
Class
C
Year Built
1968

Unit(s) available at that property

Space
Available Space
Size
11,760 SF

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.0638365
Longitude
-90.0597151
3119 3Rd St, Memphis, Tennessee

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3119 3Rd St
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