1249 E Shelby Dr - Freestanding FOR SALE


Memphis, TN 38116- Whitehaven
$3,586,000 USD
404-934-5558
1249 E Shelby Dr, Memphis, TN for Sale
$3,586,000 USD
Freestanding - FOR SALE
1/4
null | 7.25% Cap Rate

1249 E Shelby Dr
Memphis, TN 38116
Whitehaven


HIGHLIGHTS

  • Relocation from adjacent Southland Mall
  • Short drive to Graceland (500,000+ visitors)
  • Proximity to Memphis Airport and Downtown Memphis
  • 1.5 mile west of Interstate 55 - 111,000+ VPD
  • Densely populated Memphis suburb
  • Wide trade area and limited competition

OVERVIEW

Located minutes to Graceland, Downtown Memphis and Interstate 55, this Foot Locker presents a unique investment opportunity with a long-standing history in the submarket. The national tenant boasts over 2,600 stores worldwide and has strategically relocated from the neighboring Southland Mall, underlining the tenant’s viability and commitment to the area. Conveniently minutes away from Graceland and Memphis International Airport, the property benefits from high traffic and excellent visibility. The site is a vital part of Foot Locker's growth strategy, which is focused on new store formats and an off-mall presence. This prime retail location features a rare freestanding 10,000 SF building and new long term lease. With limited competition, the property is a secure and stable asset in a densely populated submarket.

FOR SALE DETAILS

PRICE

$3,586,000 USD

PRICE/SF

$359 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Foot Locker - Relocation Store

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.25 AC

LAND SF

54,450 SF

ZONING

-

APN/PARCEL ID

07-9061-0-0201

ASK ABOUT THIS PROPERTY

404-934-5558

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404-934-5558

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