590 Germantown PkwyMemphis, TN 38018

Property Details for 590 Germantown Pkwy

Year built

1990

Lot size

3.03 AC

Property size (Sq ft)

345,767 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 345,767 square foot single-tenant storefront located at 590 N Germantown Pkwy, Memphis, TN 38018. The property, built in 1990 and situated on a 3.03-acre lot, boasts a strong 8.02% cap rate and a Net Operating Income (NOI) of $232,486. The asking price is $2,900,000. The tenant, Bargain Hunt, is backed by a corporate guarantee and has a long-term lease in place (5 years remaining), having operated at this location since 2012 with lease renewals in 2017 and 2024. The property benefits from its prime location on a major retail corridor, Germantown Parkway (37,411 ADT) and Trinity Road (10,035 ADT), surrounded by national retailers including Walmart, Kroger, IKEA, and many others. Recent improvements include repaving and restriping of the parking area and common area driveways (September 2024). The surrounding area demonstrates strong demographics, with a 5-mile radius population of 158,369 and an average household income of $118,529. This NNN lease property offers a secure, high-return investment with significant upside potential. The property features excellent visibility with a pylon sign on both Germantown Parkway and Trinity Road. Bargain Hunt's parent company, ACON Investments, LLC, is a Washington, DC-based private equity firm managing over $5.6 billion in capital. This investment offers a compelling combination of strong tenant occupancy, prime location, and attractive financial metrics.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1413

Longitude

-89.7944

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