Restaurant Building in Wolfchase
For Sale
$1,200,000
7990 Horizon Center Blvd, Memphis, TN 38133
Freestanding, fully equipped restaurant building for sale in Memphis.
Property Size7,774 SF
Lot Size2.57 Acres
Price / SF$154.36
Days on Market168
Property Features for 7990 Horizon Center Blvd
General Information
Standard status
Active
Size
7,774 SF
Lot size
2.57 Acres
Property subtype
Single Tenant or Freestanding Building
Listing Agency:
The Shopping Center Group | Memphis
(901) 334-5706
Listed By:
Jon Isbell · License #297139
Source:
Tscg
Added: Mar 6
Changed: Jul 6
Last Checked: Aug 21 at 5:27AM
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 The Shopping Center Group | Memphis
Investment Insights
Based on property information with market context.
A 7,774 square foot freestanding, fully equipped restaurant building is available for sale. The property is situated on 2.57 acres at the northwest corner of Horizon Center Boulevard and Horizon Lake Drive, within the Wolfchase Trade Area of Memphis. It is located adjacent to a Hyatt Place and The Commons at Wolfcreek Shopping Center, and across the street from Wolfchase Galleria Mall. The property benefits from its location on a frontage road to Interstate 40. Traffic counts in the area show 103,701 vehicles on Interstate 40 and 73,408 vehicles on Germantown Parkway (AADT).
Key Highlights
- Freestanding, fully equipped 7,774 SF restaurant building on 2.57 acres.
- Prime location in the Wolfchase Trade Area of Memphis.
- High traffic counts: Interstate 40 (103,701 AADT) and Germantown Pkwy (73,408 AADT).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$93,545
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,870,900
$1.9M
Cap Rate 7%
$1,336,357
$1.3M
Cap Rate 9%
$1,039,389
$1.0M
Market Conditions
NOI Build-Up for 7,774 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$130.6K $16.80/SF
− Vacancy
−$5.9K −$0.76/SF
EGI
$124.7K $16.04/SF
− OpEx
−$31.2K −$4.01/SF
NOI
$93.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,870,900
Cap Rate 7%
$1,336,357
Cap Rate 9%
$1,039,389
Alternative Uses
Best Use
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,545 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $160,829 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
618k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 47%
Shops & Services 20%
Superstores 18%
Home Improvements & Furnishings 15%
Costco Wholesale
Superstores
108,795 visits/mo
0.3 miles
Academy Sports + Outdoors
Apparel
61,695 visits/mo
0.1 miles
T.J. Maxx
Apparel
58,589 visits/mo
0.2 miles
Kohl's
Apparel
54,210 visits/mo
0.5 miles
The Home Depot
Home Improvements & Furnishings
44,520 visits/mo
0.3 miles
Demographics for 38133, TN
22,482
Population
8,336
Households
2.7
Avg Household Size
37
Median Age
33%
College-Educated
91%
High-School Grad
13.0 sq mi
ZIP Area
1,729
Density / Sq Mi
$82,485
Median Household Income
$46,522
Median Earnings
$1,449
Median Rent
$234,800
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?
Conventional restaurant - Freestanding, fully equipped restaurant building for sale in Memphis.
Where is this conventional restaurant located?
The property is located at 7990 Horizon Center Blvd Memphis, TN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Freestanding, fully equipped 7,774 SF restaurant building on 2.57 acres.; Prime location in the Wolfchase Trade Area of Memphis.; High traffic counts: Interstate 40 (103,701 AADT) and Germantown Pkwy (73,408 AADT).
