6150 Macon Rd Memphis, TN 38134

Property Details for 6150 Macon Rd

Year built

1986

Lot size

9.59 lot acres

Property size

91,449 SF

Zone code

CMU-3

Property type

Strip malls

Property subtype

Neighborhood centers

APN

089-003- - -00051

APU

8900300051

Description

This exceptional investment opportunity presents a 89,630 square foot multi-tenant retail shopping center and a 2,585 square foot outparcel quick-service restaurant (QSR) in Memphis, Tennessee. Located on a 10.22-acre site with 402 parking spaces, the property boasts high visibility along the I-40 corridor, experiencing an average daily traffic count of 138,370 vehicles. The shopping center is 89% occupied by 16 tenants, offering a diverse mix of national, regional, and local businesses, many with long-term leases. The included QSR is leased to a long-term tenant with a significant market presence. The property offers a compelling value-add opportunity through leasing up two vacant spaces totaling 9,900 square feet, negotiating rent increases with existing tenants, and potentially selling the outparcel separately. Built in 1986, the property features two single-story buildings and benefits from its proximity to Bass Pro Shops. The asking price is $5,980,000, with a current Net Operating Income (NOI) of $604,684 and a 10.11% cap rate. The property is offered free and clear of debt at closing and is ideally suited for a 1031 exchange. The property is located at 6150 and 6130 Macon Rd, Memphis, TN 38134. Approximately 78% of tenants are on a triple net (NNN) lease structure.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Longitude

-89.8574

Latitude

35.1642

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments