645 Mulberry AveSelmer, TN 38375

Property Details for 645 Mulberry Ave

Year built

2000

Lot size

1.14 AC

Property size (Sq ft)

3,119 SF

Zone code

B1

Property type

Drive through restaurants

APN

055100 00906

APU

5510000906

Description

This exceptional investment opportunity presents a fee-simple ownership of a single-tenant, 3,119 square-foot Burger King restaurant located at 645 Mulberry Ave, Selmer, Tennessee, 38375. The property sits on a 1.1-acre lot and boasts a prominent drive-thru window. The current lease, an absolute NNN net lease with no landlord responsibilities, features a remaining term of 8.7 years, extending to July 31, 2033, with four 5-year renewal options. The lease includes a 10% rental increase every five years, providing consistent growth potential. The property benefits from a high-traffic location, with over 16,000 cars passing daily. The strong financial performance is further secured by the Burger King corporate guarantee. The asking price is $1,500,000, translating to $480.92 per square foot. This is a 100% occupied, single-story building, ideal for a 1031 exchange. The property's features, including the long-term lease, built-in rent increases, and corporate guarantee, make it a compelling investment opportunity in the thriving Selmer, Tennessee market. The property is offered in fee-simple ownership.

• CAP approach

  CAP return

  Valuation

  6%

  $703,325

  6.5%

  $649,224

  7%

  $602,850

• Comparable approach

  Method

  Valuation

  Relative Method

  $612,756

  Geo Method

  $612,756

• Alternative Use

  Use

  Valuation

  Residential

  $547,644

  Hospitality

  $501,639

  Educational

  $417,358

  Medical

  $431,712

  Retail

  $649,224

Location Insight

City

Selmer

County

Mcnairy

State

Tennessee

Latitude

35.1531

Longitude

-88.5778

Property Tax & Assessments

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