7697 Winchester RdMemphis, TN 38125

Property Details for 7697 Winchester Rd

Year built

2005

Lot size

15.17 AC

Property size (Sq ft)

124,287 SF

Zone code

CA

Property type

Retail properties

Property subtype

Outlet malls

APN

D02-42 - - -00415-C

APU

D024200415C

Description

This exceptional investment opportunity presents a 124,102-square-foot At Home storefront located at 7697 Winchester Rd, Memphis, TN 38125. The property boasts a 100% occupancy rate with a corporate-guaranteed, absolute NNN lease expiring February 27, 2034, providing a remaining lease term of 9.3 years. The current annual net operating income (NOI) is $754,675, yielding an attractive 11.00% cap rate. The asking price is $6,860,000, translating to $55.28 per square foot. Built in 2005, this single-story building sits on a 15.16-acre lot and includes 588 parking spaces. The lease includes 2% annual rent bumps. The property benefits from high visibility and accessibility on Winchester Road, with a daily traffic count of 32,225 vehicles. It's situated within a dense retail corridor, boasting 2.2 million square feet of retail space within a one-mile radius. The surrounding area demonstrates strong demographics, including an average household income of $110,118 within a five-mile radius and a population of 182,321 residents. Its proximity to major employers, including Saint Francis Hospital and the University of Memphis, further enhances its appeal. The property is also conveniently located near a variety of national retailers, including Walmart, Costco, Lowe's, and many others. This is a rare opportunity to acquire a high-performing, net-leased retail property with a strong tenant and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $26,324,446

  6.5%

  $24,299,490

  7%

  $22,563,812

• Comparable approach

  Method

  Valuation

  Relative Method

  $24,417,324

  Geo Method

  $24,417,324

• Alternative Use

  Use

  Valuation

  Residential

  $20,497,528

  Hospitality

  $18,775,626

  Educational

  $15,621,100

  Medical

  $16,158,334

  Retail

  $24,299,490

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0471

Longitude

-89.8069

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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