Shelby Crossing Shopping Center 6150 Macon Rd

PRICE ADJUSTMENT FOR YEAR END CLOSE! GREAT VALUE ADD 1031 EXCHANGE REPLACEMENT PROPERTY OR ALL CASH QUICK CLOSE ACQUISITION!
TAKE ADVANTAGE OF THE DISCOUNTED PRICE, HIGH 10+% CAP RATE, EXTEND LEASES, LEASE VACANT SPACES AND CONTINUE TO STABILIZE AND IMPROVE THE PROPERTY FOR SHORT-TERM OR LONG-TERM HOLD!
This investment opportunity consists of an 87,045 SF shopping center attached to Bass Pro Shops (not a part) with a 2,585 SF freestanding restaurant outparcel leased to a long-term tenant. (The Shopping Center can be purchased at a lower price without the restaurant outparcel). The property is strategically located along the dynamic I-40 corridor with exceptional visibility and an impressive 138,370 average daily traffic count in east Memphis, Tennessee. The Shopping Center benefits from its east interstate location, a county population of 929,178, and its proximity to Bass Pro Shops driving additional traffic to the property.
The subject property is a multi-tenant retail building containing 87,045 square feet of rentable space 89% occupied to 16 local, regional and national Tenants with a diverse mix of retail, restaurant, service, office and event businesses, many being long term tenants. Included with the property offering is an outparcel containing a 2,585 square foot freestanding restaurant with drive-thru leased to a long-term 17 location regional BBQ restaurant operator actively expanding in the Memphis region. The property is situated on a sprawling 10+ acres site with 500+ shared parking spaces and three access points along Macon Rd.
This opportunity is being offered free and clear of debt at the time of closing. A new Owner can capitalize on this investment opportunity by leasing up the vacancy, re-tenanting or increasing the rent to Tenant’s not paying market rent, and the opportunity to sell the outparcel investment at a lower Cap Rate.
*Ownership reserves the right to determine an offer process, select an offer to consider, or discontinue the sale of this offering at any time whatsoever.
Disclaimer: Neither the Broker nor the owner of the Property makes any representation or warranty, express or implied, as to the completeness or the accuracy of the material contained herein. Prospective purchasers and Brokers requesting additional information on the property will be required to sign a confidentiality agreement.