Lamar Crossing | 2926-2938 Lamar Ave
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Lamar Crossing 2926-2938 Lamar Ave
64,800 SF 87% Leased Retail Building Memphis, TN 38114 £5,000,763 (£77/SF) 8.50% Net Initial Yield
Executive Summary
SUPERIOR CURB APPEAL
• Limited recent construction in the immediate area making Lamar Crossing the best in class strip center along Lamar Ave meaning the Property will continue to attract the best tenants in the trade area.
• Value to add thru mark-to-market opportunities and possible outlot development
LONG STANDING TENANCY
• Current tenants have been occupants of the center for an average of over 13.5 years.
• Eight tenants have been occupants since 2008 or earlier.
• Over 80% of GLA leased to national brands, including Dollar Tree, Citi Trends, Shoe Show, and Rainbow.
DEMOS AND LOCATION
• The 3-mile radius around Lamar Crossing boasts a population of over 95,000 residents with an average household income of nearly $76,000. The Property is located just inside I-240, Memphis’ Inner Loop, which sees traffic counts of over 140,000 VPD
• Limited recent construction in the immediate area making Lamar Crossing the best in class strip center along Lamar Ave meaning the Property will continue to attract the best tenants in the trade area.
• Value to add thru mark-to-market opportunities and possible outlot development
LONG STANDING TENANCY
• Current tenants have been occupants of the center for an average of over 13.5 years.
• Eight tenants have been occupants since 2008 or earlier.
• Over 80% of GLA leased to national brands, including Dollar Tree, Citi Trends, Shoe Show, and Rainbow.
DEMOS AND LOCATION
• The 3-mile radius around Lamar Crossing boasts a population of over 95,000 residents with an average household income of nearly $76,000. The Property is located just inside I-240, Memphis’ Inner Loop, which sees traffic counts of over 140,000 VPD
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
64,800 SF
Building Class
C
Year Built
2006
Price
£5,000,763
Price Per SF
£77
Net Initial Yield
8.50%
NOI
£425,057
Percent Leased
87%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.16
Land Acres
9.55 AC
Zoning
CMU-1: Commercial Mixed U - Commercial
Parking
295 Spaces (4.55 Spaces per 1,000 SF Leased)
Amenities
- Bus Route
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalised Intersection
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 2926-107
- 1,200 SF
- Retail
- In-Line
- Now
Suites may be demised to suit Tenant's needs.
- 2932-101
- 2,500 SF
- Retail
- In-Line
- Now
| Space | Size | Space Use | Position | Available |
| 2926-107 | 1,200 SF | Retail | In-Line | Now |
| 2926-108 | 4,578 SF | Retail | In-Line | Now |
| 2932-101 | 2,500 SF | Retail | In-Line | Now |
2926-107
| Size |
| 1,200 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
2926-108
| Size |
| 4,578 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
2932-101
| Size |
| 2,500 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
2926-108
| Size | 4,578 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Suites may be demised to suit Tenant's needs.
PROPERTY TAXES
| Parcel Number | 05-9016-A0-0002 | Improvements Assessment | £1,204,456 |
| Land Assessment | £336,871 | Total Assessment | £1,541,327 |
PROPERTY TAXES
Parcel Number
05-9016-A0-0002
Land Assessment
£336,871
Improvements Assessment
£1,204,456
Total Assessment
£1,541,327
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Hank Davis -
Evan Halkias -
Carson Claybrook -
David Matheis -
Cushman & Wakefield
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Lamar Crossing | 2926-2938 Lamar Ave
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