Former Restaurant/Automotive Sales
For Sale
Contact for pricing
2551 Mt Moriah Rd, Memphis, TN 38115
High-traffic location suitable for retail, automotive, or restaurant use.
Property Size6,103 SF
Price / SF$204.82
Days on Market883
Property Features for 2551 Mt Moriah Rd
General Information
Standard status
Active
Size
6,103 SF
Class
B
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Renovated
2016
Buildings
1
Stories
1
Listing Agency:
MMIC Inc
Listed By:
Arthur Malkin · License #TN 253811
(901) 761-1002
Source:
Crexi
Added: May 16, 2024
Changed: Oct 15
Last Checked: Oct 14 at 11:00PM
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 MMIC Inc
Investment Insights
Based on property information with market context.
This 6,103-square-foot property is a former restaurant location that was most recently used for automotive sales. Situated on Mt. Moriah Road at Mendenhall, the site benefits from high traffic volume. The property is located next to a Ford dealership and near a police station and Halle Stadium. The property is well maintained and suitable for retail, automotive, or restaurant use.
Key Highlights
- High traffic location, ideal for business exposure.
- Next to Ford Dealership, benefiting from established customer flow.
- Former restaurant/automotive sales location, suited for similar ventures.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,877
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,217,540
$1.2M
Cap Rate 7%
$869,671
$869.7K
Cap Rate 9%
$676,411
$676.4K
Market Conditions
NOI Build-Up for 6,103 SF
Gross rent
$91.5K $15.00/SF
− Vacancy
−$4.6K −$0.75/SF
EGI
$87.0K $14.25/SF
− OpEx
−$26.1K −$4.27/SF
NOI
$60.9K $9.98/SF
Area
Memphis, TN
Vacancy
5.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,217,540
Cap Rate 7%
$869,671
Cap Rate 9%
$676,411
Alternative Uses
Best Use
Retail
$869.7K
$761.0K – $1.01M
NOI $60,877 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,259 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
33k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 46%
BP
Shops & Services
9,834 visits/mo
0.1 miles
Krystal
Dining
6,349 visits/mo
0.4 miles
Piccadilly Restaurants
Dining
5,305 visits/mo
0.1 miles
AutoNation Ford Memphis
Shops & Services
4,710 visits/mo
0.2 miles
Papa John's Pizza
Dining
3,587 visits/mo
0.5 miles
Demographics for 38115, TN
40,076
Population
19,179
Households
2.1
Avg Household Size
30
Median Age
14%
College-Educated
87%
High-School Grad
8.6 sq mi
ZIP Area
4,660
Density / Sq Mi
$42,931
Median Household Income
$32,997
Median Earnings
$1,129
Median Rent
$129,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Memphis, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - High-traffic location suitable for retail, automotive, or restaurant use.
Where is this retail property located?
The property is located at 2551 Mt Moriah Rd Memphis, TN.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: High traffic location, ideal for business exposure.; Next to Ford Dealership, benefiting from established customer flow.; Former restaurant/automotive sales location, suited for similar ventures.
