For Sale
$3,575,000

1204 Poplar AveCollierville, TN 38017

Triple-net leased shopping center, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 10,815 square foot shopping center, located at 1204 W Poplar Ave in Collierville, TN 38017, presents a compelling investment opportunity. The Class B property boasts a strong 6.50% cap rate and a substantial net operating income (NOI) of $232,444. Currently 100% occupied by three tenants—Plato's Closet, Once Upon A Child, and Methodist Healthcare—this multi-tenant property offers a diversified income stream with long-term leases. The leases are structured as triple-net (NNN), minimizing landlord responsibilities. The current lease expiration is November 30, 2031, providing a remaining lease term of seven years. The property underwent extensive renovations in 2015 and features a new roof installed in 2021, complete with a 20-year warranty. Situated on Poplar Avenue, a major commercial thoroughfare extending west through Germantown into downtown Memphis, this property benefits from high visibility and accessibility within the affluent Collierville suburb. The asking price is $3,575,000, translating to a price per square foot of $330.56. This investment offers a blend of stability, strong cash flow, and significant long-term potential in a prime location.

Highlights

  • 10,815 SF shopping center in Collierville, TN on Poplar Ave.
  • 6.50% cap rate and $232,444 NOI.
  • 100% occupied by Plato's Closet, Once Upon A Child, and Methodist Healthcare with NNN leases.
  • Seven-year remaining lease term (expiring November 30, 2031) with renewal options.
  • New roof (2021) with a 20-year warranty; extensive renovations in 2015.
  • Asking price: $3,575,000 ($330.56/SF).

Property Details for 1204 Poplar Ave

Property type
Lifestyle centers, Power centers
Square Feet
10,815 SF
Class
B
Units
3

Location Insight

City
Collierville
County
Shelby
State
Tennessee
Latitude
35.046373246674
Longitude
-89.702822562555
1204 Poplar Ave, Collierville, Tennessee

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1204 Poplar Ave
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