2281 Germantown Pkwy Memphis, TN 38016
- Retail properties
- 60,833 SF
Current Use by Public Records
- Retail properties
Property Details for 2281 Germantown Pkwy
- Year built
- 2007
- Property size
- 60,833 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This 60,833-square-foot vacant storefront in Memphis, Tennessee, presents a compelling redevelopment opportunity. Located at 2281 N Germantown Pkwy in the Countrywood Crossing Center, this fee-simple property (land and building) offers significant upside potential. The property boasts a prime location at a signalized intersection with high visibility and traffic counts (73,400 VPD on N. Germantown Pkwy and 125,500 VPD on I-40, half a mile away). It benefits from its proximity to major retailers including Kohl's, Ashley Furniture, Dick's Sporting Goods, Ross Dress for Less, IKEA, Costco, and the Market Place Galleria, creating a strong retail environment. The property's 2007 construction and Planned Development (PD) zoning provide flexibility for future development. The asking price is $7,300,000, translating to $120 per square foot. The 5-mile trade area boasts a population exceeding 169,000 with an average household income of $97,500, indicating strong consumer spending power. This vacant big box presents a unique chance to capitalize on a high-traffic location within a thriving retail corridor. The current market rent minimizes risk before securing a new, long-term tenant at market rate.
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
- -89.7961
- Latitude
- 35.1877
