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Property summary
This exceptional 14,392 square foot retail property, formerly a Walgreens, is situated on a prominent 1.88-acre corner lot at 3502 Summer Avenue in Memphis, Tennessee. The building features a convenient drive-thru, a spacious open floor plan, and ample parking for 76 vehicles. Its strategic location at the hard corner of Summer and Highland Avenues benefits from high visibility and significant traffic volume, with 26,070 vehicles passing daily on Summer Avenue. The property presents a… compelling investment opportunity in a growing area, further enhanced by ongoing city improvements to the streetscape. The asking price is $1,990,000, translating to $138.27 per square foot. This prime location and existing infrastructure make it ideal for a variety of retail uses. The Shelby County address offers easy access to major transportation routes and a thriving local community. This is a rare opportunity to acquire a well-positioned, sizable retail space in a dynamic Memphis market.
Ownership intelligence
Resolved identity, portfolio, hold profile and investor signals. Included in the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2022
Value estimate
· Sep 2026Realmo valuation models over county records.
Recently sold
Cap rate analysis
Price anchors at 6 / 6.5 / 7% — in the full report.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 15 properties nearbyComparable nearby
Similar in This City for Sale
Similar Nearby for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $99/month
- GBA
- 14,392 SF
- Lot area
- 1.88 ac
- Year built
- 2003
- Stories
- 1
- APN
- 038-064- - -00001-C
- Zoning
- RU-1
- Assessed value · 2023
- $460,000
- Annual tax · 2022
- $28,022
- Estimated market rent / SF
- Potential gross income
- Vacancy allowance
- Effective gross income
- Benchmark operating expenses
- Stabilized NOI
- Property tax · 2022
- $28,022
- Selected cap rate
- Auto Repair, Garage
- Apartment House (5+ Units)
- Office Building
- Retail Stores · current use
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Memphis market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Registration is required before the official district profile is shown.
Official district profile
Housing Type RU-1 RU-2 RU-3 RU-4 RU-5 Conventional Side Yard House Cottage ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- -- Semi-Attached Two-Family Townhouse ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- ■ Large Home Stacked Townhouse Apartment …
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- Ownership
- Owner Contacts
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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- Full Property Data
- Historical Records
- Value Estimation
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- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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