Leased Corner Restaurant
For Sale
Contact for pricing
2740 Bartlett Road, Bartlett, TN 38134
Freestanding restaurant property on a prominent corner with dual road frontage and ample on-site parking.
Property Size3,760 SF
Price / SF$193.88
Days on Market135
Property Features for 2740 Bartlett Road
General Information
Standard status
Active
Size
3,760 SF
Total Parking Spaces
39
Property subtype
Retail
Zoning
CG-MS General Commercial District with a Main Street Commercial Overlay
Investment Type
Sale/Leaseback
Additional Details
Highway Access
Yes
Building Details
Year Built
1984
Year Renovated
2023
Tenancy
Single
Listing Agency:
Keller Williams Memphis
Listed By:
Mike Neal · License #383433
Source:
Crexi
Added: Apr 24
Changed: Aug 28
Last Checked: Sep 2 at 11:28PM
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 Keller Williams Memphis
Investment Insights
Based on property information with market context.
Freestanding restaurant building positioned at a highly visible corner at Bartlett Road and Bartlett Boulevard in Bartlett, TN. The property is currently leased to an established tenant, offering immediate occupancy. Off the roadway with ample on-site parking, the site is designed to support straightforward customer access and visibility from two directions.
The address is 2740 Bartlett Road, Bartlett, TN 38134, with the property described as located just off U.S. Highway 64 (Stage Road). This corner placement provides exposure along two well-traveled corridors within a retail and commercial area.
For buyers seeking a leased restaurant investment, this asset combines freestanding operation, dual frontage, and on-site parking under an active lease.
The address is 2740 Bartlett Road, Bartlett, TN 38134, with the property described as located just off U.S. Highway 64 (Stage Road). This corner placement provides exposure along two well-traveled corridors within a retail and commercial area.
For buyers seeking a leased restaurant investment, this asset combines freestanding operation, dual frontage, and on-site parking under an active lease.
Key Highlights
- Freestanding leased restaurant property built in 1984 with dual road frontage on Bartlett Road and Bartlett Boulevard in Bartlett
- Fully leased to an established tenant, providing immediate and consistent cash flow
- Highly visible corner location just off U.S. Highway 64 (Stage Road) with prominent frontage along two well‑traveled corridors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,244
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$904,880
$904.9K
Cap Rate 7%
$646,343
$646.3K
Cap Rate 9%
$502,711
$502.7K
Market Conditions
NOI Build-Up for 3,760 SF
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.
Gross rent
$63.2K $16.80/SF
− Vacancy
−$2.8K −$0.76/SF
EGI
$60.3K $16.04/SF
− OpEx
−$15.1K −$4.01/SF
NOI
$45.2K $12.03/SF
Area
Memphis, TN
Vacancy
4.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$904,880
Cap Rate 7%
$646,343
Cap Rate 9%
$502,711
Alternative Uses
Best Use
Specialty Retail
$646.3K
$565.6K – $754.1K
NOI $45,244 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$972.3K – $1.30M
NOI $77,787 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
270k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Groceries 21%
Dining 16%
Apparel 5%
Kroger
Groceries
55,726 visits/mo
0.4 miles
Five Below
Shops & Services
29,029 visits/mo
0.5 miles
Dollar Tree
Shops & Services
22,900 visits/mo
0.5 miles
Kroger Fuel Center
Shops & Services
22,208 visits/mo
0.4 miles
Wendy's
Dining
12,569 visits/mo
0.5 miles
Demographics for 38134, TN
41,760
Population
15,685
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
86%
High-School Grad
18.6 sq mi
ZIP Area
2,245
Density / Sq Mi
$61,172
Median Household Income
$39,185
Median Earnings
$1,147
Median Rent
$184,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Brickhouse Buffet — 2861 Bartlett Blvd, Bartlett, TN 38134
- Grand Pacific — 6196 Stage Rd, Bartlett, TN 38134
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant property on a prominent corner with dual road frontage and ample on-site parking.
Where is this conventional restaurant located?
The property is located at 2740 Bartlett Road Bartlett, TN.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Freestanding leased restaurant property built in 1984 with dual road frontage on Bartlett Road and Bartlett Boulevard in Bartlett; Fully leased to an established tenant, providing immediate and consistent cash flow; Highly visible corner location just off U.S. Highway 64 (Stage Road) with prominent frontage along two well‑traveled corridors
