2702 Perkins RdMemphis, TN 38118

Property Details for 2702 Perkins Rd

Year built

1996

Lot size

0.75 AC

Property size (Sq ft)

2,167 SF

Zone code

CMU-3

Property type

Retail properties

Property subtype

Drive through restaurants

APN

074-001- - -00235

APU

7400100235

Description

This exceptional investment opportunity features a 2,200 sq ft Taco Bell in Memphis, TN, on a 0.75-acre lot with 29 parking spaces. The property boasts a strong 6.00% cap rate, a long-term absolute NNN lease with 13.2 years remaining and six 5-year options, and 10% rent bumps every 5 years. Built in 1991 and renovated in 2019, this fee-simple property generates a substantial NOI of $134,148. The tenant, a subsidiary of a highly successful restaurant group, ensures a stable income stream. The property benefits from high traffic counts on S Perkins Rd and proximity to major transportation hubs, including FedEx World Hub and Memphis International Airport. Surrounded by complementary businesses, this location offers excellent visibility and accessibility.

• CAP approach

  CAP return

  Valuation

  6%

  $458,979

  6.5%

  $423,673

  7%

  $393,410

• Comparable approach

  Method

  Valuation

  Relative Method

  $425,727

  Geo Method

  $425,727

• Alternative Use

  Use

  Valuation

  Residential

  $357,384

  Hospitality

  $327,362

  Educational

  $272,361

  Medical

  $281,728

  Retail

  $423,673

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0751

Longitude

-89.9057

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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