6150 Macon Rd Memphis, TN 38134
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.
3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations with direct access to arterials. Residential uses are allowed on the ground floor but upper -story units are encouraged. Typical uses in this…
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
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Property description
Physical attributes from public recordsZoning & alternative use
CMU-3 · Memphis, TN3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations with direct access to arterials. Residential uses are allowed on the ground floor but upper -story units are encouraged. Typical uses in this district serve regional needs. The permitted uses are generally uses not of a neighborhood or general commercial type, but serve large areas of the City and County. 2.2.4 District Intent Statements Article 2 Districts and Uses 2.2.4 Predominantly Industrial Districts Memphis/Shelby County Unified Development Code 16 ZTA 24-2 E. Central Business (CBD) The CBD District is intended to accommodate high -intensity office, employment and residential uses within downtown. The district regulations recognize and support downtown's role as a center of regional importance and as a primary hub for business, communications, office, living, government, retail, cultural, educational, visitor accommodations, and entertainment. The district promotes vertical mixed -use (residential/nonresidential) projects that contain active ground- floor uses. F. Campus Master Plan (CMP-) The campus master plan districts are intended to accommodate office, research and development, residential, light manufacturing and processing uses and other campus-like developments, such as hospitals, colleges and universities, allowing for clustering opportunities that h elp improve overall efficiency. Limited retail, restaurant and commercial uses are allowed, however, such uses are primarily for the convenience of employees or users of the campus. 1. Campus Master Plan - 1 (CMP-1) The CMP-1 District is intended to accommodate new development where the land -use pattern is predominately urban in character. New development should be urban in character with an emphasis on compact, vertical, pedestrian-oriented, mixed use development that fit seamlessly into the built environment. Landscaping requirements are reduced and buildings are pulled up much closer to the street. 2. Campus Master Plan - 2 (CMP-2) The CMP-2 District is intended to accommodate new development where the land -use pattern is predominately suburban in character or where such a land use pattern is desired in the future. New development should be suburban in character with an emphasis on low -rise buildings that blend flawlessly into the natural environment. Landscaping requirements are significant and development patterns are characterized by deep, gracious setbacks.
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.
