590 Germantown Pkwy Memphis, TN 38018
- Retail properties
- 345,767 SF
- 3.03 lot acres
Current Use by Public Records
- Retail properties
Property Details for 590 Germantown Pkwy
- Year built
- 1990
- Lot size
- 3.03 lot acres
- Property size
- 345,767 SF
- Property type
- Retail properties
- Property subtype
- Retail space
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.
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
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.7944
- Latitude
- 35.1413
