3330 Austin Peay Hwy Memphis, TN 38128-3802
- Drive through restaurants
- 1,772 SF
- 0.55 lot acres
Current Use by Public Records
- Krystal / Fast Food Restaurant / American Restaurant
Property Details for 3330 Austin Peay Hwy
- Year built
- 2014
- Lot size
- 0.55 lot acres
- Property size
- 1,772 SF
- Zone code
- CMU-2
- Property type
- Drive through restaurants
- APN
- 085-017- - -00071
- APU
- 8501700071
Description
This exceptional investment opportunity presents a newly remodeled Krystal restaurant in Memphis, Tennessee. The property boasts a 20-year absolute NNN lease with a corporate guarantee, providing exceptional security and passive income. The 1,739 square foot building sits on a 0.55-acre lot and underwent a complete renovation in 2023, reflecting Krystal's latest prototype design. The lease includes 10% rent bumps every five years and offers 3, 5-year renewal options. The property generates a strong net operating income (NOI) of $110,000, resulting in a compelling 6.25% cap rate. This prime location on Austin Peay Highway benefits from high visibility and daily traffic counts exceeding 40,000 vehicles. The surrounding area is densely populated, with over 165,000 people within a 5-mile radius, and features numerous national tenants including McDonald's, Chick-fil-A, Starbucks, KFC, ALDI, and Family Dollar. The property's proximity to the newly constructed Raleigh Springs Civic Center, Memphis Police Department, and Raleigh Public Library further enhances its desirability. This is a rare opportunity to acquire a stable, high-performing asset in a thriving market within a state with no income tax. The asking price is $1,760,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $850,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,045,000
- 6.5%
- $980,000
- 7%
- $1,045,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $895,000
- Geo Method
- $895,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,020,000
- Retail
- $935,000
- Mixed-Use
- $1,020,000
- Hospitality
- $940,000
- Educational
- $1,150,000
- Residential Income
- $980,000
- Energy
- $1,090,000
- Income-Based Land
- $1,100,000
- Food Service
- $1,155,000
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9138
- Latitude
- 35.2157
- CBSA code
- 32820
- CBSA name
- MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA
