2926-2938 Lamar Ave - Storefront FOR SALE


Memphis, TN 38114
$6,330,000 USD
513-763-3022
2926-2938 Lamar Ave, Memphis, TN for Sale
$6,330,000 USD
Storefront - FOR SALE
1/8
null | 8.5% Cap Rate

2926-2938 Lamar Ave
Memphis, TN 38114


OVERVIEW

SUPERIOR CURB APPEAL • Limited recent construction in the immediate area making Lamar Crossing the best in class strip center along Lamar Ave meaning the Property will continue to attract the best tenants in the trade area. • Value to add thru mark-to-market opportunities and possible outlot development LONG STANDING TENANCY • Current tenants have been occupants of the center for an average of over 13.5 years. • Eight tenants have been occupants since 2008 or earlier. • Over 80% of GLA leased to national brands, including Dollar Tree, Citi Trends, Shoe Show, and Rainbow. DEMOS AND LOCATION • The 3-mile radius around Lamar Crossing boasts a population of over 95,000 residents with an average household income of nearly $76,000. The Property is located just inside I-240, Memphis’ Inner Loop, which sees traffic counts of over 140,000 VPD

FOR SALE DETAILS

PRICE

$6,330,000 USD

PRICE/SF

$98 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lamar Crossing

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

295

LAND DETAILS

LAND ACRES

9.55 AC

LAND SF

415,998 SF

ZONING

CMU-1: Commercial Mixed U

APN/PARCEL ID

05-9016-A0-0002

ASK ABOUT THIS PROPERTY

Hank DavisCushman & WakefieldMore Info
513-763-3022

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Hank DavisCushman & WakefieldMore Info
513-763-3022

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.