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    8540 Us-51 Millington, TN 38017

    For Lease
    Contact for pricing

    Prime Retail Space, High Traffic Area

    Lot size:
    94,552 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    The Shoppes of Millington Farms, located at 8540 US-51 in Millington, Tennessee (zip code 38017), offers a fantastic retail opportunity. This 94,552 square foot shopping center boasts a strong tenant mix, including anchor stores Ross, Bealls, Petco, and Dunham's Sports. A Lowe's Home Improvement store serves as a shadow anchor, providing significant additional traffic. A Walmart Supercenter is conveniently located directly across the street, further enhancing visibility and customer flow. The property is situated in a thriving area of Millington, a Memphis suburb with a robust economy fueled by education, construction, scientific and technical services, and a substantial military presence (NAS Mid-South employs over 7,500). The area's economic growth is further amplified by the recent groundbreaking of a major Ford electric vehicle plant, projected to create over 6,000 jobs by 2025. Currently, a 6,500 square foot retail space is available, ideally positioned between Ross and Five Below, ensuring high visibility and foot traffic. This space presents a unique opportunity to capitalize on the strong existing tenant base and the significant growth potential of the Millington market. The property's multiple tenancy structure provides a diverse and stable income stream. This is an exceptional opportunity for businesses seeking a high-traffic location in a rapidly expanding market.

    Property Features for 8540 Us-51

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    94,552 SF

    Unit(s) available at that property

    Space
    Unit 107
    Size
    0 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Millington
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8915597
    Latitude
    35.3594002

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    FAQs

    What type of property is this?
    Retail property - Prime Retail Space, High Traffic Area
    Where is this retail property located?
    The property is located at 8540 Us-51 Millington, TN.
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    Millington, TN 38017
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8540 Us-51 Millington, TN 38017
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