1173 Shelby Dr Memphis, TN 38116-7153

Property Details for 1173 Shelby Dr

Year built

2023

Lot size

0.90 lot acres

Property size

2,315 SF

Zone code

CMU-2

Property type

Turn key restaurants

APN

079-061- - -00214

APU

7906100214

Description

This exceptional investment opportunity presents a brand-new, 2,100 square foot Starbucks with a drive-thru, situated on a 0.9-acre lot at a hard-signalized corner in Memphis, Tennessee. The property boasts a prime location near Graceland (attracting over 500,000 annual visitors), Memphis International Airport (MEM), and Interstate 55, ensuring high visibility and substantial foot and vehicle traffic. The 10-year net lease, commencing August 28, 2023, and expiring August 31, 2033, includes a credit-rated tenant with a corporate guarantee, providing significant security and stability. The property features a 6.15% cap rate and a strong net operating income (NOI) of $140,000. Rent increases of 10% every five years are built into the lease, offering substantial long-term growth potential. The building was constructed in 2023 and enjoys 100% occupancy. This location is strategically positioned near a new AutoZone mega hub store and a relocated Foot Locker, further enhancing its appeal and drawing in a large customer base. The property's proximity to major transportation arteries and high-traffic areas makes it an ideal investment for discerning buyers seeking a stable, high-return asset in a thriving market. The lease includes four, 5-year options.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Longitude

-90.0248

Latitude

35.0204

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments