Former Restaurant/Automotive Sales
2551 Mt Moriah Rd, Memphis, TN 38115
High-traffic location suitable for retail, automotive, or restaurant use.
Type:Retail
Property size:
6,103 SFPrice / SF:
$204/SF- Added:
- May 16, 2024
- Days on Market:
- 746
- Last Refresh:
- May 12 at 10:50 pm
Property Features for 2551 Mt Moriah Rd
General Information
- Standard status
- Active
- Size
- 6,103 SF
- Property subtype
- Retail
Listing agent Arthur Malkin License #TN 253811
Listing office MMIC Inc
Listing date May 16, 2024
Source Crexi
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
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.
- Well maintained property, ready for immediate occupancy.
- Near Police Station and Halle Stadium.
- Also available for lease.
Overview
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.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $102.5k | $16.80 |
| − Vacancy | −$4.6k | −$0.76 |
| EGI | $97.9k | $16.04 |
| − OpEx | −$24.5k | −$4.01 |
| NOI | $73.4k | $12.03 |
6,103 SF · lease $16.80/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.05M
$918.0K – $1.22M
NOI $73,437 @ 7.0% cap · market cap 5.87%
Second Best
Industrial
$886.4K
$775.6K – $1.03M
NOI $62,046 @ 7.0% cap · market cap 4.96%
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
United Auto Sales
Car Dealership
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.8866787
- Latitude
- 35.0789046
Nearby Similar for Sale
FAQs
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.
