8535 Us-64Memphis, TN 38133
- Retail properties
- 6,124 SF
Property Details for 8535 Us-64
- Year built
- 1997
- Lot size
- 1.31 AC
- Property size (Sq ft)
- 6,124 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
Description
This exceptional investment opportunity presents a 6,124 square foot Burger King restaurant located in Memphis, Tennessee, at 8535 US-64, zip code 38133. The property sits on a 1.31-acre lot and includes 53 parking spaces. Built in 1997, this Class B retail property is currently operating at 100% occupancy under an absolute NNN lease with a strong franchisee tenant, backed by a 150+ unit guarantor, Carrol's Restaurant Group. The lease, commencing January 6, 2016, and expiring January 5, 2036, has approximately 11.1 years remaining on the base term, with two 5-year options. Rent increases are structured with a 10% bump every five years during the base term and CPI adjustments in the options. The asking price is $3,432,000, representing a cap rate of 6.00% and a price per square foot of $560.42. The property generates a substantial net operating income (NOI) of $205,897. The property benefits from a high-traffic location with excellent visibility and access, situated directly across I-40 from a major mixed-use development and near numerous hotels, shopping centers (including Wolfchase Galleria), and big-box retailers. The gas station component offers potential depreciation advantages. This is a passive investment with zero landlord responsibilities, making it an attractive addition to any portfolio. The strong tenant, favorable lease terms, and prime location combine to create a compelling investment opportunity.
Location Insight
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Latitude
- 35.204
- Longitude
- -89.7783
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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