Freestanding Retail
For Sale
Contact for pricing
2870 Poplar Ave, Memphis, TN 38111
Built in 2018, the property offers flexible retail space that can be divided into multiple bays.
Property Size6,300 SF
Lot Size0.48 Acres
Price / SF$158.57
Days on Market824
Property Features for 2870 Poplar Ave
General Information
Standard status
Active
Size
6,300 SF
Lot size
0.48 Acres
Property subtype
RETAIL
Additional Details
Asking Price
$1,500,000
Building Details
Year Built
2018
Listing Agency:
NAI Saig Company - Memphis
(901) 526-3100
Listed By:
Brian Califf · License ##299669
(901) 526-3100
Source:
Moodyscre
Added: May 10, 2024
Changed: Aug 1
Last Checked: Aug 10 at 8:51AM
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 NAI Saig Company - Memphis
Investment Insights
Based on property information with market context.
This freestanding retail building contains 6,300 square feet on a 0.48-acre parcel and was built in 2018. The layout can be divided into multiple retail bays, providing flexibility for different occupancy configurations.
The property is located at 2870 Poplar Ave in Memphis, Tennessee, near a major medical hub. Its retail classification and adaptable bay configuration support a range of storefront arrangements.
The property is located at 2870 Poplar Ave in Memphis, Tennessee, near a major medical hub. Its retail classification and adaptable bay configuration support a range of storefront arrangements.
Key Highlights
- 6,300‑square‑foot freestanding retail building
- 0.48‑acre parcel at 2870 Poplar Ave
- Built in 2018
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
$62,842
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
6.29%
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%
$1,256,840
$1.3M
Cap Rate 7%
$897,743
$897.7K
Cap Rate 9%
$698,244
$698.2K
Market Conditions
NOI Build-Up for 6,300 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
$94.5K $15.00/SF
− Vacancy
−$4.7K −$0.75/SF
EGI
$89.8K $14.25/SF
− OpEx
−$26.9K −$4.27/SF
NOI
$62.8K $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 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%
$1,256,840
Cap Rate 7%
$897,743
Cap Rate 9%
$698,244
Alternative Uses
Best Use
Retail
$897.7K
$785.5K – $1.05M
NOI $62,842 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,334 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,103
Businesses Nearby
83k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 44%
Home Improvements & Furnishings 1%
Electronics 1%
McDonald's
Dining
20,433 visits/mo
0.1 miles
Family Dollar
Shops & Services
12,058 visits/mo
0.1 miles
Krystal
Dining
12,013 visits/mo
0.4 miles
BP
Shops & Services
9,963 visits/mo
0.5 miles
XFINITY Store by Comcast
Shops & Services
7,353 visits/mo
0.4 miles
Demographics for 38111, TN
40,533
Population
20,084
Households
2
Avg Household Size
34
Median Age
38%
College-Educated
89%
High-School Grad
9.8 sq mi
ZIP Area
4,136
Density / Sq Mi
$52,806
Median Household Income
$33,449
Median Earnings
$1,077
Median Rent
$165,200
Median Home Value
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 space - Built in 2018, the property offers flexible retail space that can be divided into multiple bays.
Where is this retail space located?
The property is located at 2870 Poplar Ave Memphis, TN.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 6,300‑square‑foot freestanding retail building; 0.48‑acre parcel at 2870 Poplar Ave; Built in 2018
