3196 Austin Peay Hwy Memphis, TN 38128-4604

Property Details for 3196 Austin Peay Hwy

Year built

1974

Lot size

1.17 lot acres

Property size

2,618 SF

Zone code

CMU-2

Property type

Drive through restaurants

APN

085-027- - -00022

APU

8502700022

Description

This exceptional 2,642-square-foot quick-service restaurant (QSR) presents a remarkable investment opportunity in Memphis, Tennessee. Located at 3196 Austin Peay Highway, this single-tenant property sits on a 1.17-acre lot (50,965 square feet) and boasts a highly desirable drive-thru. Built in 1974, the building features 38 parking spaces, ensuring ample customer convenience. The property benefits from exceptional visibility and accessibility, situated on a six-lane roadway with excellent ingress and egress, and prominent pylon signage. Daily traffic counts exceed 28,000 vehicles, further enhanced by its proximity to major retailers including Aldi, McDonald's, KFC, Little Caesars, Papa Johns, Checkers, and Krystal, contributing to a combined daily traffic count of over 37,000 vehicles. The property's strategic location offers direct frontage traffic of 27,903 AADT and easy access from Interstate 40. Zoned CMU-2, this property is available for lease under NNN terms, commencing March 1, 2025, at a rate of $21.54 per square foot annually. The property's tax rate is $4.88 per square foot. This location offers unparalleled exposure and potential for significant returns. The property's address is 3196 Austin Peay Hwy, Memphis, TN 38128, with the cross street being Coleman Rd. The APN is 08-5027-0-0022. This is a one-story building in the North Memphis submarket.