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6990 E Shelby Dr Memphis, TN 38125

Strip malls Google Maps
101,094 SF 14.7 ac lot Built 1989
Entity Owned 18-yr Hold Free & Clear
Estimated value (blended)
$3.61M
Range $3.25M – $3.97M (±10%)
Property ID US80-1072458

Property summary

AI-generated overview

Shelby Square, a 145,073 square foot shopping center in Memphis, Tennessee, presents a compelling investment opportunity. This multi-tenant retail property boasts a prime location at the intersection of East Shelby Drive and Riverdale Road in Southeast Memphis, just north of the Mississippi state line, within Shelby County, zip code 38125. The center features a strong tenant mix, anchored by prominent national retailers including Walmart Neighborhood Market, Roses Discount Store, Rainbow, Advance Auto Parts, and Hibbett Sports. Additional national tenants include Checkers, DaVita, Cricket Wireless, and Jackson Hewitt. Currently, there are four spaces available, ranging from a minimum of 1,160 square feet to a maximum contiguous space of 11,900 square feet. A total of 19,373 square feet is currently vacant, offering significant potential for expansion or new tenant acquisition. The property sits on a substantial 145,073 square foot lot, providing ample space and visibility. This well-established shopping center benefits from high traffic counts and a strong local customer base, making it an attractive option for both established businesses and new ventures seeking a strategic location in a thriving retail market. The property's size and tenant diversity offer a stable income stream and significant upside potential for future growth. This is an exceptional opportunity to acquire a well-positioned retail asset in a rapidly developing area of Memphis.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1989
Total area 101,094 SF
Lot 14.7 ac (640,506 SF)
Zoning code CMU-2
APN 093-700- - -00443-C
UPID US80-1072458

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bakery Specialty Food Shop
  • Social Service Agency Community Center
  • Bank Credit Union
  • Bank Credit Union
  • Restaurant

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$4.70M
Blend (final) Blend
$3.61M

Owner & transaction history

since 2008
4 recorded transactions
2008
Price N/A
2006
$7.3M
2005
$6.6M
1969
Price N/A

Zoning & alternative use

CMU-2 · Memphis, TN
Zoning description

h. CMU-2 and CBD districts. Any convenience store with gas pumps or gas stations constructed in the CMU-2 and CBD districts after the effective date of this ordinance (ZTA 21 -2) or reactivated after one year of disconti…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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