3802 Mendenhall RdMemphis, TN 38115

Property Details for 3802 Mendenhall Rd

Year built

1985

Lot size

1.32 AC

Property size (Sq ft)

15,900 SF

Zone code

CMU-1

Property type

Retail properties

Property subtype

Strip malls

APN

093-417- -M-00001-C

APU

093417M00001C

Description

This exceptional value-add investment opportunity presents a 15,900 square foot retail storefront located at 3802 S Mendenhall Rd, Memphis, TN 38115. Currently operating at 17% occupancy, this multi-tenant property offers significant upside potential for a savvy investor. The property features excellent visibility and a large parking area, situated in a high-traffic area near the intersection of Winchester Rd, within Memphis's thriving industrial market. The existing lease structure is NNN (Triple Net), although some leases may require conversion to a traditional NNN structure to maximize returns. The property's current NOI, if fully leased, is projected at $126,000. This presents a unique chance to increase profitability by securing new tenants at market rates. The property is ideal for owner-users seeking to expand their business or investors looking to capitalize on a strong Memphis location and significant value-add potential. The asking price for this Shelby County retail center is $725,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,367,679

  6.5%

  $3,108,626

  7%

  $2,886,582

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,123,701

  Geo Method

  $3,123,701

• Alternative Use

  Use

  Valuation

  Residential

  $2,622,243

  Hospitality

  $2,401,960

  Educational

  $1,998,403

  Medical

  $2,067,131

  Retail

  $3,108,626

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0449

Longitude

-89.8854

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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