1698 Poplar Ave Memphis, TN 38104-6417

Property Details for 1698 Poplar Ave

Year built

1968

Lot size

0.30 lot acres

Property size

1,369 SF

Zone code

CMU-3

Property type

Turn key restaurants

APN

020-062- - -00011-C

APU

02006200011C

Description

This exceptional investment opportunity presents a brand-new, single-tenant Scooter's Coffee located at 1698 Poplar Ave, Memphis, TN 38112. Built in 2023, this 669 square foot property sits on a 0.28-acre lot and boasts a prominent, hard-corner location with excellent visibility at a signalized intersection with 25,500 combined vehicles per day (VPD). The property benefits from a 15-year absolute NNN lease, commencing December 27, 2023, and expiring December 31, 2038, with two 5-year renewal options and a 10% rent increase every five years. The current net operating income (NOI) is $120,000, representing a 7.00% cap rate. The asking price is $1,714,000, or $137.26 per square foot of land. This location enjoys proximity to major retailers like Planet Fitness, The Home Depot, Kroger, and Walgreens, and is strategically positioned one mile from I-69 (98,353 VPD). The area features over 560 hotel rooms within a two-mile radius and is less than 1.5 miles from the Memphis Zoo (over 1.1 million annual visitors). Furthermore, it's within four miles of the Butler Row mixed-use development (300 luxury apartments, completion Q1 2025), serving an affluent demographic of 112,700+ within a three-mile radius. Scooter's Coffee, a rapidly expanding US franchise with over 800 locations, was ranked #2 on Entrepreneur's Franchise 500 list in 2024. This property offers a secure, passive income stream with significant long-term growth potential.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Longitude

-90.0038

Latitude

35.1432

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments