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Germantown Square 1245 N Germantown Pky

142,626 SF 82% Leased Retail Building Cordova, TN 38016 $16,867,893 CAD ($118 CAD/SF) 9.93% Cap Rate

Investment Highlights

  • Prime Location in the Northeast Submarket of the Memphis MSA
  • Signalized Intersection
  • Easy Access to I-40, Hwy 64 and Germantown Parkway, three major corridors through the Memphis Area
  • Area retailers include Petco, Party City, Malco Theater, HomeGoods, Kroger, Walmart, Marshalls, IKEA, Kohl’s, Lowe’s, Dick’s Sporting Goods

Executive Summary

Marcus & Millichap is proud to exclusively present Germantown Square, a 142,626 square-foot single-story shopping center built in 2000. The property sits on 16 acres and is located on the northwest signalized corner of Germantown Parkway, a main thoroughfare of the area, and Cordova Road in the northeast submarket of Cordova, a submarket of the Memphis MSA, in the county of Shelby, Tennessee. The property is occupied by three tenants: Incredible Pizza, University of Memphis, and the Tile Shop. There are two available units (17,000 SF and 9,230 SF) available for lease up, providing upside for an investor. A new Tops BBQ, not part of the sale offering, is currently undergoing construction on a pad site adjacent to the University of Memphis Culinary School.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
142,626 SF
Building Class
B
Year Built
2000
Price
$16,867,893 CAD
Price Per SF
$118 CAD
Cap Rate
9.93%
NOI
$1,674,656 CAD
Percent Leased
82%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
5 Exterior
Building FAR
0.20
Land Acres
16.00 AC
Zoning
CP - Commercial Planning Zoning
Parking
789 Spaces (5.53 Spaces per 1,000 SF Leased)

Amenities

  • Bus Line
  • Pylon Sign
  • Signage

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 102
  • 17,000 SF
  • Retail
  • -
  • Now

Germantown Square is offering an opportunity for a fitness franchise to enter the market with a turn-key space. This 17,000 square foot space along the desirable Germantown Pkwy is a former fitness center ready for a new business. The existing improvements make it easy to get started, and the location is ideal for attracting customers. With plenty of room, this space is perfect for any fitness franchise looking to make an impact in the area. The Germantown Square location offers easy access to Germantown Pkwy, as well as plenty of parking for customers. The space is also ideal for other gym type businesses or open Retail. IDEAL USES: Fitness/ Gym, Retail, Hardware, HomeGoods, Furniture, Jr Box National Retail.

  • 120
  • 9,230 SF
  • Retail
  • -
  • Now

The 9,230 SF End Cap space has great access and visibility, drive-thru, open floor plan, high drop ceilings. Install restrooms and flooring, then open for business. Many Uses – Retail, Furniture, Hardware, Dine In Restaurant, Other

Space Size Space Use Position Available
102 17,000 SF Retail - Now
120 9,230 SF Retail - Now

102

Size
17,000 SF
Space Use
Retail
Position
-
Available
Now

120

Size
9,230 SF
Space Use
Retail
Position
-
Available
Now

102

Size 17,000 SF
Space Use Retail
Position -
Available Now

Germantown Square is offering an opportunity for a fitness franchise to enter the market with a turn-key space. This 17,000 square foot space along the desirable Germantown Pkwy is a former fitness center ready for a new business. The existing improvements make it easy to get started, and the location is ideal for attracting customers. With plenty of room, this space is perfect for any fitness franchise looking to make an impact in the area. The Germantown Square location offers easy access to Germantown Pkwy, as well as plenty of parking for customers. The space is also ideal for other gym type businesses or open Retail. IDEAL USES: Fitness/ Gym, Retail, Hardware, HomeGoods, Furniture, Jr Box National Retail.

120

Size 9,230 SF
Space Use Retail
Position -
Available Now

The 9,230 SF End Cap space has great access and visibility, drive-thru, open floor plan, high drop ceilings. Install restrooms and flooring, then open for business. Many Uses – Retail, Furniture, Hardware, Dine In Restaurant, Other

Nearby Major Retailers

Chili's Grill & Bar
Jason's Deli
ALDI
Starbucks
IHOP
Outback Steakhouse
Truist
Pinnacle Bank
First Horizon Bank
Jenny Nails

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 09-6900-0-0575
  • 09-6900-0-0574
  • 09-6900-0-0583
Land Assessment
$3,281,919 CAD
Improvements Assessment
$3,084,066 CAD
Total Assessment
$6,365,985 CAD
  • Listing ID: 29980447

  • Date on Market: 2023-09-29

  • Last Updated:

  • Address: 1245 N Germantown Pky, Cordova, TN 38016

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