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Property profile & analytics
OFF-MARKET Estimated value $1,075,000
Drive through restaurants

3344 Austin Peay Hwy Memphis, TN 38128-3802

2,931 SF 0.78 ac lot Built 2000
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US80-0791726
Property summary
AI-generated overview

This exceptional fast-food property, totaling 3,286 square feet, is situated on a highly visible 0.76-acre lot with prime highway frontage on Austin Peay Highway in Shelby County. Built in 2000, the single-story building features approximately 30 parking spaces, making it easily accessible for customers. Its strategic location benefits from proximity to a newly constructed Memphis Police Department station, ensuring high visibility and security. The property is also surrounded by other successful quick-service restaurants (QSRs), including well-known brands such as Chick-fil-A, Bojangles, and Starbucks, creating a synergistic environment and attracting significant foot traffic. Previously occupied by a Burger King, this single-tenant space presents a unique opportunity for a fast-food operator seeking a well-established location with high potential for success. The property's excellent visibility and convenient access make it an ideal location for a variety of fast-food concepts. The building is ready for immediate occupancy. No elevators are present.

Property profile
Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 2000
Total area 2,931 SF
Lot 0.78 ac (33,977 SF)
Zoning code CMU-2
APN 085-017- - -00066
UPID US80-0791726
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Opulent Heating & Air Conditioning Hardware & Home Improvement Home Appliance Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.00M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.15M
Blend (final) Blend
$1.08M
Owner & transaction history
Niki Akron LP · 4 yrs held
Niki Akron LP
since 2022
Last sale
$1.2M
7 recorded transactions
2023
Price N/A
2022
$1.2M
2018
Price N/A
2017
Price N/A
2016
$1.4M
2015
Price N/A
2000
$302,162
Zoning & alternative use
CMU-2 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

h. CMU-2 and CBD districts. Any convenience store with gas pumps or gas stations constructed in the CMU-2 and CBD districts after the effective date of this ordinance (ZTA 21 -2) or reactivated after one year of discontinuance or whose convenience store is reconstructed or relocated shall require the issuance of a Special Use Permit, except in situations whe…

Zone name Commercial Mixed Use 2
General category MIXED_USE
Zone area 2,993.47 ac
Source CHAPTER 1
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