3502 Summer AveMemphis, TN 38122

  • Retail properties
  • 14,392 SF
For Sale
$1,990,000 View listing

Property Details for 3502 Summer Ave

Year built
2003
Lot size
1.88 AC
Property size (Sq ft)
14,392 SF
Zone code
RU-1
Property type
Retail properties
Property subtype
Retail space
APN
038-064- - -00001-C
APU
03806400001C

Description

This exceptional 14,392 square foot retail property, formerly a Walgreens, is situated on a prominent 1.88-acre corner lot at 3502 Summer Avenue in Memphis, Tennessee. The building features a convenient drive-thru, a spacious open floor plan, and ample parking for 76 vehicles. Its strategic location at the hard corner of Summer and Highland Avenues benefits from high visibility and significant traffic volume, with 26,070 vehicles passing daily on Summer Avenue. The property presents a compelling investment opportunity in a growing area, further enhanced by ongoing city improvements to the streetscape. The asking price is $1,990,000, translating to $138.27 per square foot. This prime location and existing infrastructure make it ideal for a variety of retail uses. The Shelby County address offers easy access to major transportation routes and a thriving local community. This is a rare opportunity to acquire a well-positioned, sizable retail space in a dynamic Memphis market.

3502 Summer Ave, Memphis, Tennessee

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.1502
Longitude
-89.944
CBSA code
32820
CBSA name
MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$28,022
$165,600
$294,400
$460,000
-
$414,000
$736,000
$1,150,000

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