815 Exocet DrMemphis, TN 38018

  • Retail properties
  • 20,479 SF
For Lease

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
Retail properties
Property subtype
Strip malls
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
815 Exocet Dr, Memphis, Tennessee

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

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
$29,240
$283,600
$196,400
$480,000
-
$709,000
$491,000
$1,200,000

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