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3531 Summer Ave Memphis, TN 38122

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For Sale
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NNN leased Midas property with long term and rent increases.

Property size:
7,740 SF
Lot size:
0.52 Acres

Property Features for 3531 Summer Ave

General Information

Standard status
Active
Size
7,740 SF
Lot size
0.52 Acres

Building Details

Year built
1968

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Listing Contact
Austin Walsh
Austin Walsh
Source: Crexi

Listing Agency: Trinity Real Estate Investment Services Listing Agent: Austin Walsh

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Midas Investment Opportunity in Memphis

This property in Memphis, TN, is leased to Midas under an Absolute NNN lease, meaning the tenant assumes all responsibilities typically held by the landlord. The lease has a primary term of 19.5 years. The lease includes rent increases of 10% every five years, with the next increase scheduled for November 2030. The property is suitable for commercial real estate and automotive-related businesses, including auto shops and other automotive properties. The property size is 7740 square feet.
Location Intelligence

Current Use by Public Records

Right Tire (Bike/Boat/Book/etc) Store

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

Jiffy Lube, Bridgestone, Dukes Automotive, Memphis Auto Repair Service Inc, Jacob's Mobile Diesel Repair LLC

Location Insight

  • Map
  • Local Demand
City
Memphis
County
Shelby
State
Tennessee
Longitude
-89.9432923
Latitude
35.1491648

FAQs

What type of property is this?
Auto shop - NNN leased Midas property with long term and rent increases.
Where is this auto shop located?
The property is located at 3531 Summer Ave Memphis, TN.
What are key features of this property?
This property features: - Absolute NNN lease offers zero landlord responsibilities.; - Benefit from a long-term investment with a 19.5-year primary lease term.; - Attractive 10% rent increases every five years.
More about this property
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