2748 Lamar Ave Memphis, TN 38114-4316

Property Details for 2748 Lamar Ave

Year built

1956

Lot size

0.17 lot acres

Property size

1,798 SF

Zone code

CMU-3

Property type

Drive through restaurants

APN

047-073- - -00032

APU

4707300032

Description

This Memphis, TN shopping center presents a compelling value-add opportunity. Priced at $1,200,000, this 35,370 square foot property boasts a prime location on Lamar Avenue, a high-traffic corridor averaging 35,000 vehicles daily. Currently 40% occupied, the center features five units, including a Family Dollar anchor tenant and three available retail suites. A vacant, 2nd generation restaurant space offers significant potential for redevelopment, possibly as a quick-service restaurant with a drive-thru. The property sits on a 3.54-acre lot and is zoned CMU-1, offering flexibility for future tenants. Its strategic location provides easy access to Memphis International Airport, the University of Memphis, and the Memphis Depot Industrial Park, ensuring strong potential for increased occupancy and rental income. This NNN-leased multi-tenant shopping center in Shelby County represents a rare chance to capitalize on a growing area and achieve substantial returns. The property's existing infrastructure and high-traffic location make it an ideal investment for those seeking a value-add opportunity with significant upside potential. The property's Class C designation reflects its current condition, presenting an opportunity for improvement and increased value.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Longitude

-89.9713

Latitude

35.0968

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments