3150 Thomas StMemphis, TN 38127

Property Details for 3150 Thomas St

Year built

1955

Lot size

17.36 AC

Property size (Sq ft)

36,318 SF

Zone code

CMU-2

Property type

Retail properties

Property subtype

Strip malls

APN

069-032- - -00026

APU

6903200026

Description

Northgate Shopping Center, located at 3150 Thomas St, Memphis, TN 38127, presents a compelling retail investment opportunity. This Class B shopping center, totaling 153,466 square feet, offers multiple tenancy options across four buildings. Built in 1963 and renovated in 2014, the property boasts excellent visibility and accessibility, situated on a high-traffic road with convenient access at a traffic signal. Available spaces range from a minimum of 755 square feet to a maximum contiguous space of 17,065 square feet, providing flexibility for a variety of retail businesses. The center benefits from a strong tenant mix, including established businesses such as Gordin's Butcher Shoppe, AutoZone, Subway, and Bestway Rent to Own, alongside other local businesses like a nail salon, beauty supply store, and an eye doctor. The property is located in Shelby County, near the intersection of Thomas Street and Whitney Street. This well-established shopping center offers a unique opportunity to capitalize on a prime Memphis location with a diverse and successful tenant base.

• CAP approach

  CAP return

  Valuation

  6%

  $7,692,287

  6.5%

  $7,100,572

  7%

  $6,593,388

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,135,005

  Geo Method

  $7,135,005

• Alternative Use

  Use

  Valuation

  Residential

  $5,989,598

  Hospitality

  $5,486,440

  Educational

  $4,564,654

  Medical

  $4,721,639

  Retail

  $7,100,572

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.2123

Longitude

-90.0302

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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