5150 Summer AveMemphis, TN 38122

Property Details for 5150 Summer Ave

Year built

1962

Lot size

9.64 AC

Property size (Sq ft)

41,602 SF

Zone code

EMP

Property type

Strip malls

Property subtype

Neighborhood centers

APN

063-072- - -00027-C

APU

06307200027C

Description

Cloverleaf Center presents a unique investment opportunity in a high-traffic location at the hard corner of Summer Avenue and White Station Road, boasting approximately 48,000 vehicles per day. This strategically positioned property benefits from its proximity to the Highway 240/40 interchange (approximately 239,000 VPD) and Sam Cooper Boulevard (approximately 46,000 VPD), ensuring exceptional visibility and accessibility. The center comprises 102,379 square feet of space, currently occupied by a diverse mix of complementary businesses including Sherwin Williams, Mary Carter, Tint World, and Mid-South Medical, demonstrating strong tenant demand and resilience. Four office spaces are immediately available, ranging from 1,200 to 18,785 square feet, suitable for various business types including traditional, medical, and creative office uses. The property has recently undergone significant renovations, including the installation of energy-efficient LED lighting, a fresh paint scheme, and a revitalized parking lot. Further enhancing its appeal are iconic 35-foot high pylon signs providing excellent brand visibility. Cloverleaf Center is managed by a local and responsive team dedicated to maintaining the property's high standards. Located within the thriving Summer Avenue corridor, the property benefits from a dense trade area and the active support of the Summer Avenue Merchants Association and the International District. This is a rare opportunity to acquire a well-maintained, high-visibility property in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $8,811,458

  6.5%

  $8,133,653

  7%

  $7,552,678

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,173,096

  Geo Method

  $8,173,096

• Alternative Use

  Use

  Valuation

  Residential

  $6,861,040

  Hospitality

  $6,284,676

  Educational

  $5,228,777

  Medical

  $5,408,602

  Retail

  $8,133,653

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1506

Longitude

-89.8894

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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