815 Exocet DrMemphis, TN 38018

Property Details for 815 Exocet Dr

Year built

1997

Lot size

1.76 AC

Property size (Sq ft)

20,479 SF

Zone code

IH

Property type

Strip malls

Property subtype

Neighborhood centers

APN

091-033- - -00008-C

APU

09103300008C

Description

Patriot Square, located at 815 Exocet Dr, Memphis, TN 38018, offers a prime retail opportunity in Cordova's thriving N. Germantown Parkway corridor. This Class A retail center, built in 1997, comprises two single-story buildings totaling 51,619 square feet and features 16 suites. Currently, 2,800 square feet of space is available, divisible to a minimum of 1,400 square feet and a maximum contiguous space of 2,800 square feet. The center enjoys high visibility along N. Germantown Parkway, a major retail artery with 59,000 vehicles passing daily. Its strategic location benefits from the significant foot traffic generated by nearby high-performing retailers including Walmart, Kroger, and CVS, all ranking in the top 20% for foot traffic in Tennessee. Patriot Square's tenant mix includes entertainment, restaurant, retail, and service businesses, creating a vibrant and attractive environment. The property is ideal for retail or educational users and offers attractive tenant improvement allowances and rent abatement. This is an exceptional opportunity to establish a presence in a high-traffic, established retail center.

• CAP approach

  CAP return

  Valuation

  6%

  $4,337,528

  6.5%

  $4,003,872

  7%

  $3,717,881

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,023,288

  Geo Method

  $4,023,288

• Alternative Use

  Use

  Valuation

  Residential

  $3,377,416

  Hospitality

  $3,093,695

  Educational

  $2,573,918

  Medical

  $2,662,439

  Retail

  $4,003,872

Location Insight

City

Cordova

County

Shelby

State

Tennessee

Latitude

35.1479

Longitude

-89.7977

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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