3730 Riverdale Rd Memphis, TN 38115

Property Details for 3730 Riverdale Rd

Year built

2000

Lot size

3.19 lot acres

Property size

6,360 SF

Zone code

CA

Property type

Retail space

APN

093-500- - -00622

APU

9350000622

Description

This exceptional investment opportunity presents a brand-new, single-tenant Scooter's Coffee located at 3730 Riverdale Rd, Memphis, TN 38115. The property, built in 2024, boasts 664 square feet on a 0.845-acre lot and features a drive-thru and dual ingress/egress for optimal convenience. The absolute NNN lease, with a personal guaranty, offers a 15-year term commencing February 23, 2024, and expiring February 28, 2039, with two 5-year renewal options and a 10% rent increase every five years. The property enjoys a 7.25% cap rate and a strong net operating income (NOI) of $120,000. This prime location benefits from excellent visibility and access in a thriving retail corridor, just off State Route 385, with high vehicular traffic. The surrounding area includes numerous shopping centers, national retailers, and hotels, catering to a substantial and affluent population with an average household income exceeding $79,000 within a 3-mile radius. Scooter's Coffee, a rapidly expanding franchise with over 800 locations, is ranked highly among franchise opportunities, ensuring a stable and promising investment. The property's strategic location and the strength of the tenant combine to create a compelling investment prospect with significant long-term potential. The asking price is $1,655,000.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Longitude

-89.8296

Latitude

35.0465

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments