Grocery Convenience Store with Full
For Sale
Contact for pricing
600 S Pkwy E, Memphis, TN 38106
Grocery and convenience store currently leased; fully fenced site with a lease expiring 12/31/25 and renewing.
Property Size1,979 SF
Lot Size0.39 Acres
Price / SF$189.49
Days on Market96
Property Features for 600 S Pkwy E
General Information
Standard status
Active
Size
1,979 SF
Lot size
0.39 Acres
Property subtype
RETAIL
Site & Location
Neighborhood
The Works, Inc.
Additional Details
Asking Price
$375,000
Listing Agency:
NAI Saig Company - Memphis
(901) 526-3100
Listed By:
Daniel McPhail
Source:
Moodyscre
Added: Jul 27
Changed: Oct 25
Last Checked: Oct 28 at 9:41AM
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 NAI Saig Company - Memphis
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Investment Insights
Based on property information with market context.
Grocery and convenience store property featuring a fully fenced site. The offering includes a 2,300 SF facility situated on 0.39 acres. The property is currently occupied by Don’s South Memphis Market.
The lease expiration is 12/31/25, and the lease will renew. The property is located approximately 1 mile from Interstate, providing straightforward access to the surrounding Memphis area.
For prospective tenants or investors, the current lease structure and enclosed, secured site configuration may support a variety of neighborhood retail and convenience use cases consistent with a grocery and convenience format.
The lease expiration is 12/31/25, and the lease will renew. The property is located approximately 1 mile from Interstate, providing straightforward access to the surrounding Memphis area.
For prospective tenants or investors, the current lease structure and enclosed, secured site configuration may support a variety of neighborhood retail and convenience use cases consistent with a grocery and convenience format.
Key Highlights
- 2,300 SF grocery and convenience store
- 0.39‑acre site
- Fully fenced property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,813
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,260
$476.3K
Cap Rate 7%
$340,186
$340.2K
Cap Rate 9%
$264,589
$264.6K
Market Conditions
NOI Build-Up for 1,979 SF
Gross rent
$33.2K $16.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$31.8K $16.04/SF
− OpEx
−$7.9K −$4.01/SF
NOI
$23.8K $12.03/SF
Area
Memphis, TN
Vacancy
4.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,260
Cap Rate 7%
$340,186
Cap Rate 9%
$264,589
Alternative Uses
Best Use
Specialty Retail
$340.2K
$297.7K – $396.9K
NOI $23,813 @ 7.0% cap · market cap 6.35%
Second Best
Retail
$282.0K
$246.8K – $329.0K
NOI $19,741 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$584.9K
$511.8K – $682.4K
NOI $40,942 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
6,700 visits/mo
0.1 miles
Demographics for 38106, TN
22,394
Population
11,630
Households
1.9
Avg Household Size
41
Median Age
12%
College-Educated
83%
High-School Grad
10.4 sq mi
ZIP Area
2,153
Density / Sq Mi
$29,818
Median Household Income
$30,101
Median Earnings
$915
Median Rent
$66,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Memphis, TN
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Grocery and convenience store currently leased; fully fenced site with a lease expiring 12/31/25 and renewing.
Where is this grocery and convenience store located?
The property is located at 600 S Pkwy E Memphis, TN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,300 SF grocery and convenience store; 0.39‑acre site; Fully fenced property
