4222 Hickory Hl Rd Memphis, TN 38141-6814
This exceptional investment opportunity presents a fee-simple ownership interest in a brand-new, 10,640-square-foot Dollar General store located at 4222 Hickory Hill Rd, Memphis, TN 38141. Built in 2023, this Class A property boasts a 100% occupancy rate with a 14.2-year remaining lease term (expiring January 31, 2039), featuring three 5-year renewal options with 10% rent bumps each period. The Absolute NNN lease provides a truly passive investment with zero landlord obligations, secured by a corporate guarantee from Dollar General (NYSE: DG). The property sits on a 1.63-acre lot with 36 parking spaces and benefits from a high-traffic location on Hickory Hill Road, seeing over 30,700 vehicles per day, and proximity to major roadways and the Hickory Ridge Mall. The strong demographics of the area include a population of over 186,000 within a 5-mile radius, an average household income exceeding $95,000, and a dense residential area with over 71,000 households. The property's current NOI is $111,500, resulting in a 6.60% cap rate. The permitted zoning is CMU-1. This investment offers a compelling combination of strong tenant, location, and financial performance, making it an attractive addition to any portfolio. The property is situated in Shelby County, Tennessee, a state with no income tax, further enhancing its investment appeal. This is a single-tenant building in a high-growth area, close to major transportation routes and a significant industrial sector. The property's strategic location within the Memphis metropolitan area, the second-largest city in Tennessee, provides exceptional long-term growth potential.
Housing Type RU-1 RU-2 RU-3 RU-4 RU-5 Conventional Side Yard House Cottage ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- -- Semi-Attached Two-Family Townhouse ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- ■ Large Home Stacked Townhouse Apartment -- ■ ■ -- ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ = Permitted -- = not permitted = permitted by Special Use Permit Building Regulations for Permitted Housing…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
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
RU-3 · Memphis, TNHousing Type RU-1 RU-2 RU-3 RU-4 RU-5 Conventional Side Yard House Cottage ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- -- Semi-Attached Two-Family Townhouse ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- ■ Large Home Stacked Townhouse Apartment -- ■ ■ -- ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ = Permitted -- = not permitted = permitted by Special Use Permit Building Regulations for Permitted Housing Types A. The following building and subdivision regulations apply to the principal buildings of permitted housing types. Residential compatibility standards may also apply (see Chapter 3.9). For building envelope standards affecting accessory structures see Chapter 2.7. For the purpose of this Section, “% of Housing Types” shall be determined by calculating the number of units devoted to each housing type. The maximum front building setbacks, required building frontages and required percentage of housing types established in this Section shall not apply to buildings in existence prior to January 1, 2011. See Chapters 10.8 and 10.9. B. Housing classified as Group Living under Section 2.5.2 shall follow the appropriate building regulations in this Section for the housing types in which the Group Living is located. C. All single-family detached and attached housing types in Residential Urban Districts shall have at least one primary entrance on the front building façade. All other written standards of Chapter 3.4 and appropriate building regulations in this Section apply. Housing Type Conventional Side Yard Cottage Semi- Attached Two- Family Town- House Large Home Stacked Townhouse
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.
