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Midas Investment Opportunity in Memphis

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.

Type:Retail

Property size:

7,740 SF

Price / SF:

$190/SF

HighLights

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.
Next rent increase scheduled for November 2030.
Property is a Midas location.
Located in Memphis, TN.

We can help!

Contact an agent

Austin Walsh

For Sale

Contact for pricing

NNN leased Midas property with long term and rent increases.

Type:Retail

Property size:

7,740 SF

Price / SF:

$190/SF

Added:: Mar 23, 2026
Days on Market:: 97
Last Refresh:: Mar 25 at 8:45 am

Property Features for 3531 Summer Ave

General Information

Standard status: Active
Size: 7,740 SF
Property subtype: Retail

Building Details

Year Built: 1968

We can help!

Contact an agent

Austin Walsh

Listing office Trinity Real Estate Investment Services

Listing date Mar 23, 2026

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 Trinity Real Estate Investment Services

HighLights

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.
Next rent increase scheduled for November 2030.
Property is a Midas location.
Located in Memphis, TN.

Overview

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.

Local Financial Insights For Industrial

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$123.5k	$15.96
− Vacancy	−$11.1k	−$1.44
EGI	$112.4k	$14.52
− OpEx	−$33.7k	−$4.36
NOI	$78.7k	$10.17

7,740 SF · lease $15.96/SF/yr · vacancy 9.00% · expense 30.00%

Alternative Uses

Best Use

Industrial

$1.12M

$983.6K – $1.31M (±1% cap)

NOI $78,689 @ 7.0% cap · market cap 5.33%

Second Best

Retail

$1.10M

$965.1K – $1.29M (±1% cap)

NOI $77,207 @ 7.0% cap · market cap 5.23%

Theoretical Best

Office A

$2.29M

$2.00M – $2.67M (±1% cap)

NOI $160,125 @ 7.0% cap · market cap 10.84%

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

Property Profile Location Intelligence

Current Use by Public Records

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

Suggested Use

Similar Places Nearby

Jiffy Lube — 630 N Graham St, Memphis, TN 38122
Bridgestone — Memphis, TN 38122
Dukes Automotive — 596 N Graham St, Memphis, TN 38122
Memphis Auto Repair Service Inc — 3378 Summer Ave, Memphis, TN 38122
Jacob's Mobile Diesel Repair LLC — 35 144232 #89.928182, Memphis, TN 38122

Location Insight

Map
Local Demand

City: Memphis
County: Shelby
State: Tennessee
Longitude: -89.9432923
Latitude: 35.1491648

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For sale
Auto shops
TN
Memphis
38122
3531 Summer Ave

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 is the asking price?

The asking price for this property is $1,477,275.

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.

3531 Summer Ave, Memphis, TN 38122

NNN leased Midas property with long term and rent increases.

Property Features for 3531 Summer Ave

General Information

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Industrial

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Flex Industrial Building with Office

Memphis Commercial Property For Sale

East Memphis Multifamily Investment Opportunity

Versatile Commercial Property in Memphis

Mixed-Use Commercial Building in Memphis

Freestanding Retail Redevelopment Building

Gated Townhome Community in Memphis

19-Unit Multifamily Apartment Building

Memphis Commercial Property for Sale

Office Building in Medical District

Upper/Lower Duplex with Patios

Turnkey Central Gardens Duplex

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