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Property profile & analytics
OFF-MARKET Estimated value $1,075,000
Strip malls

3393 Summer Ave Memphis, TN 38122

41,661 SF 2 ac lot Built 1925
Entity Owned ~ Est. High Equity
Property ID
US80-1590024
Property summary
AI-generated overview

This exceptional retail property, located at the highly trafficked intersection of Summer and National Avenues in Memphis, Tennessee's Highland Heights neighborhood, offers two available spaces totaling 33,384 square feet. The spaces individually range from 1,700 to 1,889 square feet, perfect for a variety of retail, restaurant, or salon businesses. Boasting excellent visibility thanks to large storefront windows, the property benefits from a signalized corner, ensuring ample time for drivers to notice your business. With over 26,000 vehicles passing daily (according to a 2018 TDOT report), this location guarantees high foot traffic and exposure. Convenient public transportation is readily available, with a MATA bus stop directly in front of the building, and Sam Cooper Boulevard is just a mile away, providing easy access to the entire Memphis metro area. Ample parking is provided in the recently repaved parking lot behind the building, offering over 100 spaces. The property's strategic location is further enhanced by its proximity to essential services, including a fire department across the street and the Highland Heights post office nearby. Currently undergoing a significant renovation, this property presents a unique opportunity to establish your business in a prime, high-visibility location with excellent accessibility and ample parking. The property is located in Shelby County.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1925
Total area 41,661 SF
Lot 2 ac (87,120 SF)
Zoning code CMU-3
APN 044-040- - -00001-C
UPID US80-1590024
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
  • Riley Wrapz (Bike/Boat/Book/etc) Store
  • Lauren and Rice Waste Management Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$945k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.33M
Blend (final) Blend
$1.08M
Owner & transaction history
Red Sea LLC
Red Sea LLC
since 2025
Last sale
$1.1M
7 recorded transactions
2025
Price N/A
2025
$1.1M
2021
Price N/A
2021
$1.4M
2017
Price N/A
2016
Price N/A
2015
$1.0M
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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