Investment Highlights

ABSOLUTE NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» New 10-year NNN lease with no landlord responsibilities
» 10% rental increases every five years in initial term and option periods, providing a hedge against inflation
» Tenant is responsible for maintaining the entire property, including the roof, structure, foundation, parking lot, and landscaped areas
» Leased to 400+ Unit Corporate Entity

HIGH-TRAFFIC LOCATION IN DENSE RETAIL AND COMMERCIAL CORRIDOR
» Hard corner location with excellent visibility and access to 54,100 vehicles per day at signalized intersection
» Convenient access to Interstate 240 (132,675 AADT)
» Close proximity to multiple business and industrial parks, several schools, and two hospitals: Saint Francis Hospital – Memphis (519 beds) and Baptist Memorial Hospital – Memphis (706 beds)
» Minutes from downtown Memphis and Memphis International Airport

IRREPLACEABLE INFILL LOCATION WITH LARGE, AFFLUENT CUSTOMER BASE
» 228,364 residents live and 138,586 daytime employees work within five miles of the property
» Located in one of the wealthiest zip codes in Tennessee, with an extremely high average household income of $130,757 within a one-mile radius

DYNAMIC TENANT SERVING A PRACTICAL NEED
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Poised for explosive growth

Property Description

SOLD
The property is strategically located at the signalized hard corner of Poplar Avenue and Poplar Pines Drive, with excellent visibility and access to 54,100 vehicles per day. Poplar Avenue provides convenient access to Interstate 240, a major thoroughfare in the region, with a high traffic count of 132,675 vehicles per day. Located in a dense retail and commercial area, the property is close to several large shopping centers, including Ridgeway Trace, featuring major national tenants Target, Best Buy, PetSmart, and CVS. Other notable retailers located near the property include Kroger, Walgreens, AT&T, McDonald’s, Home Depot, and many others.

The property is centrally located just three miles from downtown Germantown and a short drive from downtown Memphis and Memphis International Airport. Several schools are located nearby, including Ridgeway High School, with 1,195 students. The area around the property is home to a number of major employment centers, large hospitals, and affluent residential neighborhoods. Several business and industrial parks are close by, with 138,586 daytime employees working within a five-mile radius of the property. Additionally, the 519-bed Saint Francis Hospital – Memphis and the 706-bed Baptist Memorial Hospital – Memphis are a short distance from the property. The two hospitals are also large employers, with a combined staff of approximately 4,000 people. The property is also supported by a large, affluent customer base. Located in one of Tennessee’s wealthiest zip codes, the average household income within a one-mile radius of the property is $130,757. Additionally, the area is densely populated, with 228,364 residents living within a five-mile radius.