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    3129 Thomas St Memphis, TN 38127

    Sponsored
    For Sale
    $975,000

    12,835 SF Convenience Store, High Traffic

    Property size:
    12,835 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional retail property, located at 3129 Thomas St, Memphis, TN 38127, presents a compelling investment opportunity. The 12,835 square foot building sits on a prominent 0.87-acre corner lot in a densely populated retail corridor of North Memphis. The property boasts a strong history as a former Dollar General and Walgreens, benefiting from high visibility and established customer traffic. The site enjoys exceptional proximity to numerous national retailers, including McDonald's, Dollar Tree, Taco Bell, Walgreens, and Subway, creating a synergistic retail environment. Key features include a new roof installed in 2018 with a 20-year warranty, ensuring long-term cost savings. The property's location on Thomas Street experiences a high volume of vehicular traffic, with 29,966 vehicles passing daily. This translates to significant potential for a wide range of retail uses. The asking price is $975,000, representing a price per square foot of $75.96. This single-story building offers a substantial footprint and significant potential for immediate occupancy or redevelopment. The property's strategic location and strong retail presence make it an ideal investment for discerning buyers seeking a high-return opportunity in a thriving market.

    Property Features for 3129 Thomas St

    General Information

    Property type
    Individual retail properties
    Square Feet
    12,835 SF
    Lot Size
    37,897 SF

    Building Details

    Buildings
    1
    Stories
    1

    HighLights

    • 12,835 SF building on a .87‑acre corner lot.
    • New roof installed in 2018 with a 20‑year warranty.
    • High traffic count of 29,966 vehicles per day on Thomas Street.
    • Excellent retail location near McDonald's, Dollar Tree, Taco Bell, Walgreens, and Subway.
    Property Profile Location Intelligence

    Current Use by Public Records

    Western Union Money Transfer Service Dollar General Dollar Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.032426874167
    Latitude
    35.211049545135

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    FAQs

    What type of property is this?
    Individual retail property - 12,835 SF Convenience Store, High Traffic
    Where is this individual retail property located?
    The property is located at 3129 Thomas St Memphis, TN.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: 12,835 SF building on a .87-acre corner lot.; New roof installed in 2018 with a 20-year warranty.; High traffic count of 29,966 vehicles per day on Thomas Street.
    Request Owner's contact information
    3129 Thomas St Memphis, TN 38127
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    Memphis, TN 38127
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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
    3129 Thomas St Memphis, TN 38127
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