3730 Riverdale RdMemphis, TN 38115
- Retail properties
- 6,360 SF
Property Details for 3730 Riverdale Rd
- Year built
- 2000
- Lot size
- 3.19 AC
- Property size (Sq ft)
- 6,360 SF
- Zone code
- CA
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 093-500- - -00622
- APU
- 9350000622
Description
This exceptional investment opportunity presents a brand-new, single-tenant Scooter's Coffee located at 3730 Riverdale Rd, Memphis, TN 38115. The property, built in 2024, boasts 664 square feet on a 0.845-acre lot and features a drive-thru and dual ingress/egress for optimal convenience. The absolute NNN lease, with a personal guaranty, offers a 15-year term commencing February 23, 2024, and expiring February 28, 2039, with two 5-year renewal options and a 10% rent increase every five years. The property enjoys a 7.25% cap rate and a strong net operating income (NOI) of $120,000. This prime location benefits from excellent visibility and access in a thriving retail corridor, just off State Route 385, with high vehicular traffic. The surrounding area includes numerous shopping centers, national retailers, and hotels, catering to a substantial and affluent population with an average household income exceeding $79,000 within a 3-mile radius. Scooter's Coffee, a rapidly expanding franchise with over 800 locations, is ranked highly among franchise opportunities, ensuring a stable and promising investment. The property's strategic location and the strength of the tenant combine to create a compelling investment prospect with significant long-term potential. The asking price is $1,655,000.
Valuation
by Realmo methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,347,072
- 6.5%
- $1,243,451
- 7%
- $1,154,633
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,249,480
- Geo Method
- $1,249,480
-
Alternative Use
- Use
- Valuation
- Residential
- $1,048,897
- Hospitality
- $960,784
- Educational
- $799,361
- Medical
- $826,852
- Retail
- $1,243,451
Location Insight
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Latitude
- 35.0465
- Longitude
- -89.8296
- CBSA code
- 32820
- CBSA name
- MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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