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    3502 Summer Ave Memphis, TN 38122

    Sponsored
    For Sale
    $1,990,000

    Memphis, TN: 14,392 SF, $1.99M

    Property size:
    14,392 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 14,392 square foot retail property, formerly a Walgreens, is situated on a prominent 1.88-acre corner lot at 3502 Summer Avenue in Memphis, Tennessee. The building features a convenient drive-thru, a spacious open floor plan, and ample parking for 76 vehicles. Its strategic location at the hard corner of Summer and Highland Avenues benefits from high visibility and significant traffic volume, with 26,070 vehicles passing daily on Summer Avenue. The property presents a compelling investment opportunity in a growing area, further enhanced by ongoing city improvements to the streetscape. The asking price is $1,990,000, translating to $138.27 per square foot. This prime location and existing infrastructure make it ideal for a variety of retail uses. The Shelby County address offers easy access to major transportation routes and a thriving local community. This is a rare opportunity to acquire a well-positioned, sizable retail space in a dynamic Memphis market.

    Property Features for 3502 Summer Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,392 SF
    Lot Size
    81,893 SF

    HighLights

    • High‑traffic drive‑thru building at Summer and Highland intersection.
    • Ample parking with 76 spaces.
    • Excellent visibility with 26,070 vehicles per day on Summer Ave.
    • Strong growth potential in an area with ongoing streetscape improvements.
    Property Profile Location Intelligence

    Current Use by Public Records

    Amani P. Johnsonsinghbarnett, ... Doctor Highland Square Shopping Mall Western Union Money Transfer Service COVID-19 Drive-Thru Testing ... Blood Testing Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.944493166665
    Latitude
    35.150004849384

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    FAQs

    What type of property is this?
    Individual retail property - Memphis, TN: 14,392 SF, $1.99M
    Where is this individual retail property located?
    The property is located at 3502 Summer Ave Memphis, TN.
    What is the asking price?
    The asking price for this property is $1,990,000.
    What are key features of this property?
    This property features: High-traffic drive-thru building at Summer and Highland intersection.; Ample parking with 76 spaces.; Excellent visibility with 26,070 vehicles per day on Summer Ave.
    Request Owner's contact information
    3502 Summer Ave Memphis, TN 38122
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    Memphis, TN 38122
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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
    3502 Summer Ave Memphis, TN 38122
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