For Sale
$545,000

3698 Mendenhall RdMemphis, TN 38115

10,800 SF Retail Center, 100% Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
114
This 10,800 square foot shopping center, located at 3698 S Mendenhall Rd, Memphis, TN 38115, presents a compelling value-add investment opportunity. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $68,235. The asking price is $545,000. The property is classified as a multi-tenant retail center with a Triple Net (NNN) lease structure. Situated in Shelby County, this center benefits from high visibility and traffic due to its location on S Mendenhall Road, near the Winchester Rd intersection, within Memphis's thriving industrial market. Ample parking is available both in front and behind the building. The property offers significant upside potential for new owners through lease renegotiations at market rates and potential conversion to traditional NNN leases. This makes it an attractive option for owner-users seeking to capitalize on a strong existing income stream and further enhance the property's value. The property's location and current occupancy make it a strong investment opportunity in the Memphis commercial real estate market.

Highlights

  • 10,800 SF multi-tenant retail center in Memphis, TN, at 3698 S Mendenhall Rd.
  • 100% occupancy generating $68,235 NOI.
  • Asking price: $545,000.
  • Triple Net (NNN) lease structure.
  • High visibility location on S Mendenhall Rd near Winchester Rd, in Memphis's industrial market with ample parking.
  • Significant upside potential through lease renegotiations and potential conversion to traditional NNN leases.

Property Details for 3698 Mendenhall Rd

Property type
Lifestyle centers, Power centers
Square Feet
10,800 SF

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.047327
Longitude
-89.885417
3698 Mendenhall Rd, Memphis, Tennessee

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3698 Mendenhall Rd
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