3330 Austin Peay HwyMemphis, TN 38128

Property Details for 3330 Austin Peay Hwy

Year built

2014

Lot size

0.55 AC

Property size (Sq ft)

1,772 SF

Zone code

CMU-2

Property type

Retail properties

Property subtype

Drive through restaurants

APN

085-017- - -00071

APU

8501700071

Description

This exceptional investment opportunity presents a newly remodeled Krystal restaurant in Memphis, Tennessee. The property boasts a 20-year absolute NNN lease with a corporate guarantee, providing exceptional security and passive income. The 1,739 square foot building sits on a 0.55-acre lot and underwent a complete renovation in 2023, reflecting Krystal's latest prototype design. The lease includes 10% rent bumps every five years and offers 3, 5-year renewal options. The property generates a strong net operating income (NOI) of $110,000, resulting in a compelling 6.25% cap rate. This prime location on Austin Peay Highway benefits from high visibility and daily traffic counts exceeding 40,000 vehicles. The surrounding area is densely populated, with over 165,000 people within a 5-mile radius, and features numerous national tenants including McDonald's, Chick-fil-A, Starbucks, KFC, ALDI, and Family Dollar. The property's proximity to the newly constructed Raleigh Springs Civic Center, Memphis Police Department, and Raleigh Public Library further enhances its desirability. This is a rare opportunity to acquire a stable, high-performing asset in a thriving market within a state with no income tax. The asking price is $1,760,000.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.2157

Longitude

-89.9138

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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