1204 Poplar Ave Collierville, TN 38017
- Lifestyle centers
- 10,815 SF
Current Use by Public Records
- Patrick Denning, APN, FNP / Family Practice Physician / Internist
- Candace Harris, FNP-BC / Family Practice Physician / Internist
- Methodist Medical Group / Medical Group
- Once Upon A Child - Collierville / Toy Store / Used Clothing Store
- Plato's Closet Collierville / Used Clothing Store / Clothing Store
Property Details for 1204 Poplar Ave
- Property size
- 10,815 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Collierville
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.7028
- Latitude
- 35.0464
