Free-Standing Grocery Ground
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5014 Poplar Ave, Memphis, TN 38117
Single-tenant Whole Foods Market property on an absolute NNN ground lease with corporate guarantee and periodic rent increases.
Property Size40,385 SF
Days on Market124
Property Features for 5014 Poplar Ave
General Information
Standard status
Active
Size
40,385 SF
Property subtype
Retail
Additional Details
Traffic Count
44,000 vehicles/day
Building Details
Year Built
2014
Tenancy
Single
Listing Agency:
Fortis Net Lease
Listed By:
Patrick Hammond · License #MI 6501373051
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 23 at 8:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fortis Net Lease
Investment Insights
Based on property information with market context.
This free-standing Whole Foods Market investment is structured as a single-tenant absolute NNN ground lease. The lease term is twenty (20) years with a little over 17 years remaining on the primary term, and it is corporately guaranteed by Whole Foods Market. The property includes scheduled rent increases of eight percent (8%) every five (5) years, with the next increase noted for June of 2018, and it also features three (3) five (5) year option periods. Tenant responsibilities include 100% of costs for property taxes, insurance, CAM, and capital expenditures.
The investment is located on Poplar Avenue in Memphis, Tennessee, with the offering materials citing average daily traffic of 44,000+ cars per day.
Whole Foods recently invested over $6.5 million to construct a new 40,385-square-foot building, opened in 2014, after the prior 64,000-square-foot building was demolished. The previous building configuration included Office Depot occupying 30,000 square feet, according to the provided remarks.
The investment is located on Poplar Avenue in Memphis, Tennessee, with the offering materials citing average daily traffic of 44,000+ cars per day.
Whole Foods recently invested over $6.5 million to construct a new 40,385-square-foot building, opened in 2014, after the prior 64,000-square-foot building was demolished. The previous building configuration included Office Depot occupying 30,000 square feet, according to the provided remarks.
Key Highlights
- 40,385 SF free‑standing Whole Foods Market on an absolute NNN ground lease in Memphis, TN on Poplar Avenue
- 20‑year absolute NNN ground lease with a little over 17 years remaining on the primary term
- Whole Foods Market corporate guarantee; tenant credit rating listed as BBB-
Property Analytics
Current Use
Lease Details
44,000 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,635
Businesses Nearby
722k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 23%
Shops & Services 22%
Dining 18%
Superstores 16%
Target
Superstores
116,292 visits/mo
0.5 miles
Kroger
Groceries
53,016 visits/mo
0.2 miles
T.J. Maxx
Apparel
52,314 visits/mo
0.5 miles
Chick-fil-A
Dining
51,786 visits/mo
0.1 miles
Five Below
Shops & Services
50,404 visits/mo
0.4 miles
Demographics for 38117, TN
27,138
Population
12,045
Households
2.3
Avg Household Size
40
Median Age
60%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
2,887
Density / Sq Mi
$93,688
Median Household Income
$52,596
Median Earnings
$1,353
Median Rent
$287,500
Median Home Value
Market
Vacancy Rate% for Retail in Memphis, TN
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Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant Whole Foods Market property on an absolute NNN ground lease with corporate guarantee and periodic rent increases.
Where is this nnn property located?
The property is located at 5014 Poplar Ave Memphis, TN.
What are key features of this property?
This property features: 40,385 SF free‑standing Whole Foods Market on an absolute NNN ground lease in Memphis, TN on Poplar Avenue; 20‑year absolute NNN ground lease with a little over 17 years remaining on the primary term; Whole Foods Market corporate guarantee; tenant credit rating listed as BBB-
