2987-2995 Lamar Avenue
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2987-2995 Lamar Avenue
2 Retail Properties Offered at $1,865,851 CAD in Memphis, TN
Investment Highlights
- Investment Property well below replacement cost with Upside
- Multiple rental bays with Frontage on Major Street
- New Parking Lot
Executive Summary
Value add retail center in Memphis priced at $31 per foot
44.7% Occupied Currently with Huge Upside Through Leasing
Property Currently cash flows to pay expenses and nets 72,200 per year
Stabilized Cash Flow will exceed 19% Cap rate after vacancy is rented.
upside through facade improvements and raising rent and occupancy
Property Overview:
± 43,400 SF Retail | Property Details
• Total Space: 43,400 square feet
• Land Area: 2.89 acres (spanning 2 parcels)
• Rental Units: 6
1. Upside Potential: A new investor can immediately
capitalize on the property’s untapped potential as follows:
• Leasing the Vacant Units: 12000 up to 24,000 feet available for lease, wide open floorplans, 2 separate units
2. Strategic Location:
• Situated in Memphis, TN, this property benefits from
its proximity to major transportation routes and local
amenities.
• The Lamar Avenue location ensures high visibility and
accessibility for both tenants and customers.
3. Investment Advantages:
• Below Replacement Cost at $31 per Foot: Acquiring this
asset below replacement cost provides a competitive
advantage.
• Cash Flow: With existing tenants, investors can enjoy
immediate in-place cash flow.
• Tremendous Upside: The potential for value appreciation
and increased rental income makes this an attractive
investment.
4. Market Insights:
• Memphis is a thriving commercial hub with a strong
economy and growing population.
• The retail sector is poised for growth, making this property
an excellent addition to any investor’s portfolio.
44.7% Occupied Currently with Huge Upside Through Leasing
Property Currently cash flows to pay expenses and nets 72,200 per year
Stabilized Cash Flow will exceed 19% Cap rate after vacancy is rented.
upside through facade improvements and raising rent and occupancy
Property Overview:
± 43,400 SF Retail | Property Details
• Total Space: 43,400 square feet
• Land Area: 2.89 acres (spanning 2 parcels)
• Rental Units: 6
1. Upside Potential: A new investor can immediately
capitalize on the property’s untapped potential as follows:
• Leasing the Vacant Units: 12000 up to 24,000 feet available for lease, wide open floorplans, 2 separate units
2. Strategic Location:
• Situated in Memphis, TN, this property benefits from
its proximity to major transportation routes and local
amenities.
• The Lamar Avenue location ensures high visibility and
accessibility for both tenants and customers.
3. Investment Advantages:
• Below Replacement Cost at $31 per Foot: Acquiring this
asset below replacement cost provides a competitive
advantage.
• Cash Flow: With existing tenants, investors can enjoy
immediate in-place cash flow.
• Tremendous Upside: The potential for value appreciation
and increased rental income makes this an attractive
investment.
4. Market Insights:
• Memphis is a thriving commercial hub with a strong
economy and growing population.
• The retail sector is poised for growth, making this property
an excellent addition to any investor’s portfolio.
Property Facts
| Price | $1,865,851 CAD | Number of Properties | 2 |
| Price / SF | $44.05 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 5.55% | Total Building Size | 42,356 SF |
| Sale Type | Investment | Total Land Area | 3.00 AC |
| Status | Active |
| Price | $1,865,851 CAD |
| Price / SF | $44.05 CAD / SF |
| Cap Rate | 5.55% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 42,356 SF |
| Total Land Area | 3.00 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 2983-2989 Lamar Ave, Memphis, TN 38114 | Retail | 31,000 SF | 1965 | - |
| 2991-2995 Lamar Ave, Memphis, TN 38114 | Retail | 11,356 SF | 1990 | - |
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2987-2995 Lamar Avenue
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