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REELFOOT AVE SHOPPING CENTER 1700 W Reelfoot Ave

66,663 SF 100% Leased Retail Building Union City, TN 38261 $5,979,612 ($90/SF) 8.25% Cap Rate

Storefront Properties Tennessee Union City 1700 W Reelfoot Ave, Union City, TN 38261

Investment Highlights

  • NEW CORPORATE TENANTS | Five Below and T.J. Maxx just moved into the suites signing on to 10-year lease backed by a corporate guarantee.
  • STRONG TRAFFIC COUNTS | Reelfoot Ave sees over ±15,940 VPD, the main throughway of Union City.
  • PARKING & ACCESSIBILITY | Ample parking and a well-designed layout make the strip center convenient and appealing for shoppers and tenants alike.
  • POWER CENTER OUTPARCEL | The offering outparcels to other major tenants such as Harbor Freight, Hibbit Sports, and Maurices, among other synergistic.
  • PRIME LOCATION | The strip center is strategically situated in Union City’s primary retail corridor, ensuring excellent visibility and accessibility.
  • COMPETITIVE PRICE PER SQUARE FOOT | The current rental rates are replaceable, offering strong upside potential upon tenant renewals or future leasing.

Executive Summary

Broker of Record
Hutt Cooke
License No. 263667 (TN)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
66,663 SF
Building Class
B
Year Built
1982
Price
$5,979,612
Price Per SF
$90
Cap Rate
8.25%
NOI
$493,318
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.09
Lot Size
16.67 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
CS - Commercial services zoning
Parking
388 Spaces (5.82 Spaces per 1,000 SF Leased)
Frontage
126 FT on West Reelfoot Avenue

Amenities

  • Tenant Controlled HVAC
  • Air Conditioning

Links

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Nearby Major Retailers

Regions Bank
Applebee's
Rent-A-Center
Huddle House

PROPERTY TAXES

Parcel Number 059-014.05 Improvements Assessment $757,640
Land Assessment $411,760 Total Assessment $1,169,400

PROPERTY TAXES

Parcel Number
059-014.05
Land Assessment
$411,760
Improvements Assessment
$757,640
Total Assessment
$1,169,400
(214) 692-2216

Contacts

  • Listing ID: 34163717

  • Date on Market: 12/11/2024

  • Last Updated:

  • Address: 1700 W Reelfoot Ave, Union City, TN 38261

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REELFOOT AVE SHOPPING CENTER | 1700 W Reelfoot Ave
(214) 692-2216 x

REELFOOT AVE SHOPPING CENTER | 1700 W Reelfoot Ave

1/5

Clay Smith

(214) 692-2216

(214) 692-2216

Hutt Cooke

(615) 667-0097

(615) 667-0097

Harrison Wachtler

(615) 667-0160

(615) 667-0160

Keegan Mulcahy

(310) 955-1782

(310) 955-1782

Robert Tate

(866) 889-0550

(866) 889-0550

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