1204 Poplar Ave Collierville, TN 38017

This exceptional 10,815 square foot shopping center, located at 1204 W Poplar Ave in Collierville, TN 38017, presents a compelling investment opportunity. The Class B property boasts a strong 6.50% cap rate and a substantial net operating income (NOI) of $232,444. Currently 100% occupied by three tenants—Plato's Closet, Once Upon A Child, and Methodist Healthcare—this multi-tenant property offers a diversified income stream with long-term leases. The leases are structured as triple-net (NNN), minimizing landlord responsibilities. The current lease expiration is November 30, 2031, providing a remaining lease term of seven years. The property underwent extensive renovations in 2015 and features a new roof installed in 2021, complete with a 20-year warranty. Situated on Poplar Avenue, a major commercial thoroughfare extending west through Germantown into downtown Memphis, this property benefits from high visibility and accessibility within the affluent Collierville suburb. The asking price is $3,575,000, translating to a price per square foot of $330.56. This investment offers a blend of stability, strong cash flow, and significant long-term potential in a prime location.