3495 Austin Peay Hwy Memphis, TN 38128-3801
This exceptional 6,860-square-foot freestanding building, located at 3495 Austin Peay Highway in Memphis, Tennessee, presents a unique investment opportunity. Originally constructed in 2006 for Advanced Auto Parts, the property underwent a complete renovation in 2022, receiving its Certificate of Occupancy on December 5, 2022, and is now ideally suited for a variety of retail or medical office uses. The extensive 2022 renovations included new grading, parking lot repairs, striping and signage, roofing, complete interior and exterior painting, a new fire sprinkler system, plumbing upgrades, ADA-compliant restrooms, HVAC system upgrades, electrical upgrades, new glass, handrails and railings, exam rooms, office spaces, cabinetry, new doors and hardware, epoxy flooring, and landscaping. The property sits on a 40,511-square-foot lot and offers ample parking with 45 spaces. Zoned Commercial (CMU-2), this single-building property is currently vacant and ready for immediate occupancy. Its prime location in Shelby County, with easy access via Austin Peay Highway, makes it an attractive prospect for businesses seeking high visibility and convenient access. The asking price is $1,000,000. APN: 085-016-00034. This is a turnkey opportunity for an investor or business owner seeking a move-in ready space with significant recent improvements.
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Neat Heating And Cooling HVAC Service General Contractor
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CMU-2 · Memphis, TNMemphis. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.