Retail Storefront
5149 WHEELIS DR, Memphis, TN 38117
For Sale
Contact for pricing
For sale retail storefront building offering a dedicated commercial space in Memphis.
Property Size6,450 SF
Price / SF$155.04
Days on Market145
Property Features for 5149 WHEELIS DR
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Listing Agency:
Michael Lightman Realty Company
Listed By:
Adam Lightman
(901) 767-5240
Source:
Crexi
Added: Jun 18
Changed: Nov 4
Last Checked: Nov 8 at 7:52AM
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 Michael Lightman Realty Company
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale retail storefront property totals 6,450 square feet, presented as a single retail asset suited to businesses seeking a dedicated commercial location. The offering is structured around the existing retail footprint, providing space for a retail operation that requires storefront-oriented presence.
The property is located at 5149 Wheelis Dr in Memphis, Tennessee (38117). As a retail property and space, it is positioned for tenant use consistent with neighborhood retail activity, with access and frontage expected to support day-to-day customer traffic. Prospective buyers or tenants should review site-specific access details during due diligence.
Because this is a purpose-built retail storefront asset, it may fit users looking for a straightforward retail footprint without the need to start from a non-retail shell. Potential buyers should evaluate the space layout and condition for their intended concepts, as well as any lease, ownership, or operational requirements that may apply to the 6,450-square-foot configuration. For brokers and tenants, the next step is confirming build-out needs and verifying how the available retail space aligns with their operating requirements.
The property is located at 5149 Wheelis Dr in Memphis, Tennessee (38117). As a retail property and space, it is positioned for tenant use consistent with neighborhood retail activity, with access and frontage expected to support day-to-day customer traffic. Prospective buyers or tenants should review site-specific access details during due diligence.
Because this is a purpose-built retail storefront asset, it may fit users looking for a straightforward retail footprint without the need to start from a non-retail shell. Potential buyers should evaluate the space layout and condition for their intended concepts, as well as any lease, ownership, or operational requirements that may apply to the 6,450-square-foot configuration. For brokers and tenants, the next step is confirming build-out needs and verifying how the available retail space aligns with their operating requirements.
Key Highlights
- Retail storefront building with 6,450 SF of dedicated commercial space
- Built in 1954
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,339
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,286,780
$1.3M
Cap Rate 7%
$919,129
$919.1K
Cap Rate 9%
$714,878
$714.9K
Market Conditions
NOI Build-Up for 6,450 SF
Gross rent
$96.8K $15.00/SF
− Vacancy
−$4.8K −$0.75/SF
EGI
$91.9K $14.25/SF
− OpEx
−$27.6K −$4.27/SF
NOI
$64.3K $9.98/SF
Area
Memphis, TN
Vacancy
5.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,286,780
Cap Rate 7%
$919,129
Cap Rate 9%
$714,878
Alternative Uses
Best Use
Retail
$919.1K
$804.2K – $1.07M
NOI $64,339 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.22M
NOI $133,438 @ 7.0% cap · market cap 13.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,405
Businesses Nearby
543k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 30%
Shops & Services 23%
Dining 20%
Apparel 13%
Kroger
Groceries
53,016 visits/mo
0.4 miles
T.J. Maxx
Apparel
52,314 visits/mo
0.4 miles
Five Below
Shops & Services
50,404 visits/mo
0.4 miles
Whole Foods Market
Groceries
45,459 visits/mo
0.3 miles
Kroger
Groceries
44,806 visits/mo
0.4 miles
Demographics for 38117, TN
27,138
Population
12,045
Households
2.3
Avg Household Size
40
Median Age
60%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
2,887
Density / Sq Mi
$93,688
Median Household Income
$52,596
Median Earnings
$1,353
Median Rent
$287,500
Median Home Value
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Market
Properties on Market for Storefront properties in Memphis
Vacancy Rate% for Retail in Memphis, TN
Similar Off Market Nearby
- Pugh's Flowers — 5645 Poplar Ave, Memphis, TN 38119
- Kroger Floral — 799 Truse Pkwy, Memphis, TN 38117
- L & Jay Productions — 4948 William Arnold Rd, Memphis, TN 38117
- Kroger Floral — 540 S Mendenhall Rd # 16, Memphis, TN 38117
Frequently Asked Questions
What type of property is this?
Storefront property - For sale retail storefront building offering a dedicated commercial space in Memphis.
Where is this storefront property located?
The property is located at 5149 WHEELIS DR Memphis, TN.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Retail storefront building with 6,450 SF of dedicated commercial space; Built in 1954
