Property summary
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
VerifiedCap rate & NOI
Current use
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Bakery Specialty Food Shop
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Social Service Agency Community Center
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Bank Credit Union
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Bank Credit Union
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Restaurant
Value estimations
Owner & transaction history
Zoning & alternative use
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…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
CMU-2 · Memphis, TNh. 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…
Zoning
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Zoning designation
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The district profile from the municipal source: what is on file for CMU-2 in Memphis, TN.
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