Absolute NNN Restaurant
For Sale
Contact for pricing
3144 S 3rd Street, Memphis, TN 38109
Nationally branded drive-thru restaurant leased under an absolute NNN structure with no landlord responsibilities.
Property SizeContact for details
Days on Market145
Property Features for 3144 S 3rd Street
General Information
Standard status
Active
Property subtype
Retail
Site & Location
Drive-Thru
Yes
Pylon Signage
Yes
Traffic Count
35,600 vehicles/day
Highway Access
Yes
Building Details
Tenancy
Single
Listing Agency:
SRS Real Estate Partners Newport Beach
(480) 221-4221
Listed By:
Matthew Mousavi · License #CA 01732226
Source:
Crexi
Added: Apr 10
Changed: Aug 31
Last Checked: Aug 29 at 8:19PM
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 SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
This fee-simple restaurant property includes the land and building occupied by a Kentucky Fried Chicken location at 3144 S. 3rd Street. The improvements feature a drive-thru lane and large pylon sign, while the lease structure places landlord responsibilities with the tenant under an absolute NNN arrangement. Memphis Foods, LLC, a 23-unit entity, is scheduled to execute a new sale-leaseback at closing with a 20-year initial term, four 5-year extension options, and 10% rent increases every five years during the initial term and at each option period. The lease is franchisee guaranteed for its full term, with a personal guarantee from the operator for 5 years.
The property occupies the signalized intersection of East Brooks Road and South 3rd Street, with 35,600 combined vehicles passing daily. Interstate 55 is less than 1 mile north and carries 81,000 VPD. The site serves a nearby industrial area that includes FedEx Freight and the Sherwin-Williams Distribution Center, and it is near the International Port of Memphis, which has 7,145+ employees. The surrounding 5-mile trade area includes more than 130,000 residents.
The property occupies the signalized intersection of East Brooks Road and South 3rd Street, with 35,600 combined vehicles passing daily. Interstate 55 is less than 1 mile north and carries 81,000 VPD. The site serves a nearby industrial area that includes FedEx Freight and the Sherwin-Williams Distribution Center, and it is near the International Port of Memphis, which has 7,145+ employees. The surrounding 5-mile trade area includes more than 130,000 residents.
Key Highlights
- Absolute NNN lease with zero landlord responsibilities
- 20‑year sale‑leaseback term with 4 (5‑year) extension options
- 10% rental increases every 5 years during the initial term and at each option period
Property Analytics
Property Profile
Current Use
Lease Details
35,600 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
43k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 25%
Electronics 9%
McDonald's
Dining
21,067 visits/mo
0.1 miles
Circle K
Shops & Services
9,574 visits/mo
0.1 miles
KFC
Dining
3,621 visits/mo
0.1 miles
SUBWAY
Dining
3,542 visits/mo
0.4 miles
Boost Mobile
Electronics
1,683 visits/mo
0.1 miles
Demographics for 38109, TN
42,437
Population
18,881
Households
2.2
Avg Household Size
40
Median Age
14%
College-Educated
87%
High-School Grad
59.7 sq mi
ZIP Area
711
Density / Sq Mi
$36,934
Median Household Income
$30,780
Median Earnings
$1,000
Median Rent
$76,600
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 - Nationally branded drive-thru restaurant leased under an absolute NNN structure with no landlord responsibilities.
Where is this nnn property located?
The property is located at 3144 S 3rd Street Memphis, TN.
What are key features of this property?
This property features: Absolute NNN lease with zero landlord responsibilities; 20‑year sale‑leaseback term with 4 (5‑year) extension options; 10% rental increases every 5 years during the initial term and at each option period
