Shelby Dr & Faronia
4636 Faronia Rd Memphis, TN 38116
4636 Faronia Rd, Memphis, TN, 38116
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For Sale
Contact for pricing
Retail investment opportunity at a bustling intersection in Memphis, TN.
Property Size14,305 SF
Lot Size2.05 Acres
Price / SF$139.81
Days on Market1013
Property Features for 4636 Faronia Rd
General Information
- Standard status
- Active
- Size
- 14,305 SF
- Lot size
- 2.05 Acres
- Property subtype
- Retail
Listing Agency
Myers Commercial Real Estate
Listed by
Melanie Myers Bland · License #TN 288335
Source
Crexi
Added: Oct 9, 2023 Checked: Jul 17 at 7:38 am
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 Myers Commercial Real Estate
Investment Insights
Based on property information with market context.
This retail investment opportunity is located at the intersection of Shelby Dr and Faronia Rd in Memphis, TN 38116. The portfolio consists of two parcels totaling 2.05 acres and includes four commercial buildings. The property is suitable for an investor seeking value-add opportunities with short-term leases. Parcel A spans 1.06 acres and contains two buildings with a combined square footage of 9,865. Parcel B covers 0.99 acres and features two buildings totaling 4,440 square feet. The property has a net operating income of $109,000 with a 15% vacancy rate, offering holding income potential. The location is near retailers such as Starbucks and AutoZone. The property is located at a stoplight corner and could be converted into a gas station development site. Clean Phase I and II environmental reports are available from the seller.
Key Highlights
- Prime location at the intersection of Shelby Dr and Faronia Rd, suitable for gas station development.
- Portfolio includes two parcels totaling 2.05 acres with four commercial buildings.
- Opportunity for value‑add investment with short‑term leases.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $257.5k | $18.00 |
| − Vacancy | −$18.0k | −$1.26 |
| EGI | $239.5k | $16.74 |
| − OpEx | −$71.8k | −$5.02 |
| NOI | $167.6k | $11.72 |
14,305 SF · lease $18.00/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.39M
$2.10M – $2.79M
NOI $167,626 @ 7.0% cap · market cap 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.51M
$3.07M – $4.09M
NOI $245,652 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The spot
Clothing Store
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail investment opportunity at a bustling intersection in Memphis, TN.
Where is this retail space located?
The property is located at 4636 Faronia Rd Memphis, TN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Prime location at the intersection of Shelby Dr and Faronia Rd, suitable for gas station development.; Portfolio includes two parcels totaling 2.05 acres with four commercial buildings.; Opportunity for value‑add investment with short‑term leases.
