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675 N Germantown Pkwy Cordova, TN 38018

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For Sale
$1,240,000

NNN ground lease with T-Mobile sublease in Cordova, TN.

Property size:
2,987 SF
Lot size:
1.00 Acres

Property Features for 675 N Germantown Pkwy

General Information

Size
2,987 SF
Lot size
1.00 Acres

Source: Matthews Real Estate Investment Services | Dallas Agent Josh Bishop

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

NNN Ground Lease Investment Opportunity

This property features an ±11.50-year remaining base term on a 20-year ground lease. T-Mobile subleases the space from a Hardee’s franchisee, with the sublease running through July 2031 and including three 5-year options. T-Mobile currently pays the Hardee’s franchisee $10,000 per month, which is $3,125 more than the base rent of the original lease. The franchisee operates 32 Hardee’s locations and 6 7Brew locations. The lease is an absolute NNN lease with zero landlord responsibilities. The property benefits from attractive 10% rent increases every 5 years, with the next increase scheduled for December 2026. The property is situated on a large 1-acre parcel in Cordova, a wealthy suburb of Memphis, TN. It is surrounded by a dense variety of national retailers, including Walmart, Kroger, Panera, CVS, Starbucks, HomeGoods, ALDI, Chipotle, Aspen Dental, Petco, Party City, Outback Steakhouse, IHOP, Dunkin’, Tropical Smoothie, Whataburger, Freddy’s, AutoZone, and Discount Tire. Traffic counts on Germantown Pkwy exceed 57,300 vehicles daily. The 5-mile population is 146,019 residents. The property includes four 5-year options with 10% rent increases.
Insight Report Location Intelligence

Current Use by Public Records

T-Mobile Telecommunications Service Provider

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Cordova
County
Shelby
State
Tennessee
Longitude
-89.798515
Latitude
35.144542

FAQs

What type of property is this?
NNN property - NNN ground lease with T-Mobile sublease in Cordova, TN.
Where is this nnn property located?
The property is located at 675 N Germantown Pkwy Cordova, TN.
What is the asking price?
The asking price for this property is $1,240,000.
What are key features of this property?
This property features: - Absolute NNN lease offers zero landlord responsibilities.; - Attractive 10% rent increases every 5 years, with the next increase in December 2026.; - Approximately 11.5 years remaining on the base term of a 20-year ground lease.
More about this property
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