NNN Ground Lease
New
For Sale
$2,098,000
3551 Austin Peay Hwy, Memphis, TN 38128
Corporate lease terms place maintenance and property expenses outside the landlord’s responsibilities.
Property Size2,366 SF
Lot Size0.93 Acres
Days on Market3
Property Features for 3551 Austin Peay Hwy
General Information
Standard status
Active
Size
2,366 SF
Lot size
0.93 Acres
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
2,366 SF
Year Built
2022
Listing Agency:
ParaSell Inc
(415) 515-0181
Listed By:
Rachel Kram · License #CalDRE #02021048
Source:
Cppcre
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 11 at 4:57AM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
This 0.93-acre outparcel supports a corporate NNN ground lease within the Marketplace at Raleigh development. The property was completed in 2022 as part of a multi-tenant QSR and coffee project developed between 2020 and 2023. The lease provides a 20-year initial term, two additional 5-year renewal options, and a potential 30-year contractual term. Scheduled 10% increases occur at each five-year interval, while the landlord has no maintenance or expense responsibilities.
The site fronts Austin Peay Highway in a retail corridor serving North Shelby County and adjacent submarkets. Co-tenancy within the development includes Chick-fil-A and Starbucks, with Walmart Supercenter and Kroger identified nearby. Access connections include I-40, I-385, US-51, and US-64/70, providing regional connectivity from the property’s Memphis location.
The site fronts Austin Peay Highway in a retail corridor serving North Shelby County and adjacent submarkets. Co-tenancy within the development includes Chick-fil-A and Starbucks, with Walmart Supercenter and Kroger identified nearby. Access connections include I-40, I-385, US-51, and US-64/70, providing regional connectivity from the property’s Memphis location.
Key Highlights
- 0.93‑acre outparcel within the Marketplace at Raleigh
- Corporate NNN ground lease with no landlord maintenance or expense responsibilities
- 20‑year initial term with two successive 5‑year renewal options
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
72k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Groceries 24%
Dining 16%
Hotels & Casinos 3%
Aldi
Groceries
17,560 visits/mo
0.3 miles
Marathon
Shops & Services
14,693 visits/mo
0.5 miles
SONIC Drive In
Dining
11,405 visits/mo
0.5 miles
Valero Energy
Shops & Services
7,135 visits/mo
0.2 miles
BP
Shops & Services
4,919 visits/mo
0.3 miles
Demographics for 38128, TN
43,197
Population
18,388
Households
2.3
Avg Household Size
32
Median Age
15%
College-Educated
85%
High-School Grad
23.6 sq mi
ZIP Area
1,830
Density / Sq Mi
$43,166
Median Household Income
$32,429
Median Earnings
$1,150
Median Rent
$123,900
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?
NNN property - Corporate lease terms place maintenance and property expenses outside the landlord’s responsibilities.
Where is this nnn property located?
The property is located at 3551 Austin Peay Hwy Memphis, TN.
What is the asking price?
The asking price for this property is $2,098,000.
What are key features of this property?
This property features: 0.93‑acre outparcel within the Marketplace at Raleigh; Corporate NNN ground lease with no landlord maintenance or expense responsibilities; 20‑year initial term with two successive 5‑year renewal options
