For Sale
Call for price

3254 Elvis Presley BlvdMemphis, TN 38116

High-Yield, Multi-Tenant Property in Memphis

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 3.2-acre mixed-use property, located at 3254 Elvis Presley Blvd in Memphis, Tennessee (APN: 078002 00002C), presents a compelling value-add redevelopment opportunity. The property boasts 30,000 square feet across five buildings, currently housing four tenants at 100% occupancy, including an AutoZone. The diverse tenant mix includes a restaurant, auto repair shop, mattress retailer, and an event facility, reflecting the property's versatility. Built in 1964 and extensively renovated in 2023, this Class C property features a single-story design and sits on a sizable lot. The current Net Operating Income (NOI) is $180,000, with a pro-forma NOI also at $180,000. The property is zoned for industrial use and offers significant potential for future development. The sale is structured to accommodate a 1031 exchange. This is a rare opportunity to acquire a high-performing, multi-tenant property in a prime Memphis location with strong potential for increased returns. The property is currently fully occupied until April 30, 2025.

Property Details for 3254 Elvis Presley Blvd

Property type
Retail properties, Restaurants
Square Feet
30,000 SF
Class
C
Year Built/Renovated
1964/2023
Buildings
5
Stories
1
Lot Size (sq. ft)
139,392 SF
Units
4

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.060007460209
Longitude
-90.024026657693
3254 Elvis Presley Blvd, Memphis, Tennessee

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3254 Elvis Presley Blvd
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