3551 Austin Peay Hwy - Fast Food FOR SALE


Memphis, TN 38128- Raleigh
$2,098,000 USD
415-515-0181
3551 Austin Peay Hwy, Memphis, TN for Sale
$2,098,000 USD
Fast Food - FOR SALE
1/6
null | 5.15% Cap Rate

3551 Austin Peay Hwy
Memphis, TN 38128
Raleigh


HIGHLIGHTS

  • Corporate NNN ground lease with zero landlord maintenance or expense responsibilities, providing a fully passive income stream from rent commencement
  • 20-year initial term with two successive 5-year renewal options, offering a maximum contractual term of 30 years
  • Structured 10% rental increases at each five-year interval, escalating from $98,204 annually in Years 1–5 to $130,709 annually in Years 16–20
  • 0.93-acre outparcel within the Marketplace at Raleigh, a 8.44-acre multi-tenant QSR and coffee development completed between 2020 and 2023
  • Situated on Austin Peay Highway with access to I-40, I-385, US-51, and US-64/70, positioning the site within a well-connected retail corridor

OVERVIEW

This NNN QSR outparcel is situated within the Marketplace at Raleigh development on Austin Peay Highway, a high-frequency corridor anchored by a nearby Walmart Supercenter and Kroger and flanked by co-tenants including Chick-fil-A and Starbucks. The lease structure features a 20-year initial term, zero landlord maintenance or expense responsibilities, and 10% rental increases at each five-year interval. The surrounding trade area benefits from substantial employment infrastructure, including the Amazon fulfillment center in Frayser, Nike’s Northridge distribution campus employing 1,850 workers, Memphis International Airport serving as North America’s busiest cargo hub, and the 246-bed Methodist North Hospital. Civic reinvestment along the corridor is anchored by the $45 million Raleigh Springs Civic Center, with 20 acres of its site designated by the City of Memphis for commercial development projected to generate $91 million in new investment.

FOR SALE DETAILS

PRICE

$2,098,000 USD

PRICE/SF

$951 USD /SF

CAP RATE

5.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bojangles

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

29

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,511 SF

ZONING

CMU-2

APN/PARCEL ID

08-6023-0-0024

ASK ABOUT THIS PROPERTY

Rachel KramCP Partners CREMore Info
415-515-0181

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Rachel KramCP Partners CREMore Info
415-515-0181

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.