3720 Mendenhall Rd Memphis, TN 38115-0835
- Strip malls
- 10,800 SF
- 0.96 lot acres
Current Use by Public Records
- Strip malls
Property Details for 3720 Mendenhall Rd
- Year built
- 1979
- Lot size
- 0.96 lot acres
- Property size
- 10,800 SF
- Zone code
- CMU-1
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 093-400- - -00285
- APU
- 9340000285
Description
This 10,800 square foot multi-tenant storefront property at 3720 S Mendenhall Rd, Memphis, TN 38115, is offered for sale at $650,000. Currently 80% occupied, this value-add retail investment presents a significant opportunity for increased profitability. The property features excellent visibility and ample parking, both in front and behind the center. Its location near Memphis's thriving industrial market and at the intersection of S Mendenhall Road and Winchester Rd ensures high traffic volume. The current lease structure is NNN (Triple Net), with potential for increased income through lease renewals at market rates and conversion of existing leases to traditional NNN terms. The property's strong NOI of $71,666 demonstrates its current financial performance and the potential for future growth. This is an ideal investment for owner-users seeking to capitalize on a prime retail location with significant upside potential. The property is situated in Shelby County and benefits from its proximity to a dynamic industrial sector, further enhancing its investment appeal.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,175,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,245,000
- 6.5%
- $1,130,000
- 7%
- $1,240,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,125,000
- Geo Method
- $1,055,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,340,000
- Retail
- $1,400,000
- Mixed-Use
- $1,235,000
- Hospitality
- $1,220,000
- Educational
- $1,315,000
- Residential Income
- $1,305,000
- Energy
- $1,335,000
- Income-Based Land
- $1,245,000
- Food Service
- $1,040,000
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.8854
- Latitude
- 35.0468
- CBSA code
- 32820
- CBSA name
- MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA
