Corporate NNN Ground
For Sale
Contact for pricing
3551 Austin Peay Highway, Memphis, TN 38128
Corporate ground lease with landlord maintenance and expense obligations excluded under the stated NNN structure.
Property Size2,366 SF
Lot Size0.93 Acres
Price / SF$830.52
Days on Market66
Property Features for 3551 Austin Peay Highway
General Information
Standard status
Active
Size
2,366 SF
Total Parking Spaces
29
Lot size
0.93 Acres
Property subtype
Retail
Lease Type
NNN
Net Operating Income
$108,024
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2022
Units
1
Tenancy
Single
Listing Agency:
CP Partners
Listed By:
Rachel Kram · License #CA 02021048
(415) 515-0181
Source:
Crexi
Added: Aug 7
Changed: Oct 10
Last Checked: Oct 9 at 4:32PM
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 CP Partners
Investment Insights
Based on property information with market context.
This 2,366-square-foot NNN property occupies a 0.93-acre outparcel within Marketplace at Raleigh, an 8.44-acre multi-tenant QSR and coffee development completed between 2020 and 2023. The ground lease places maintenance and expense responsibilities outside the landlord’s obligations and includes a 20-year initial term with two successive 5-year renewal options, creating a maximum contractual term of 30 years.
The property is positioned along Austin Peay Highway with access to I-40, I-385, US-51, and US-64/70. Co-tenancy within the development includes Chick-fil-A and Starbucks, supporting an established quick-service and coffee retail setting in North Shelby County and adjacent submarkets.
The property is positioned along Austin Peay Highway with access to I-40, I-385, US-51, and US-64/70. Co-tenancy within the development includes Chick-fil-A and Starbucks, supporting an established quick-service and coffee retail setting in North Shelby County and adjacent submarkets.
Key Highlights
- 0.93‑acre outparcel within the 8.44‑acre Marketplace at Raleigh development
- 2,366‑square‑foot property with a corporate NNN ground lease structure
- 20‑year initial term plus two successive 5‑year renewal options
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
156k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 79%
Shops & Services 10%
Groceries 6%
Apparel 4%
Chick-fil-A
Dining
40,476 visits/mo
0.1 miles
McDonald's
Dining
33,030 visits/mo
0.4 miles
Bojangles' Famous Chicken 'n Biscuits
Dining
19,453 visits/mo
0.1 miles
Starbucks
Dining
16,025 visits/mo
0.0 miles
Popeyes Louisiana Kitchen
Dining
10,864 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
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Market
Vacancy Rate% for Retail in Memphis, TN
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Frequently Asked Questions
What type of property is this?
NNN property - Corporate ground lease with landlord maintenance and expense obligations excluded under the stated NNN structure.
Where is this nnn property located?
The property is located at 3551 Austin Peay Highway Memphis, TN.
What is the asking price?
The asking price for this property is $1,965,000.
What are key features of this property?
This property features: 0.93‑acre outparcel within the 8.44‑acre Marketplace at Raleigh development; 2,366‑square‑foot property with a corporate NNN ground lease structure; 20‑year initial term plus two successive 5‑year renewal options
