144-186 University Plz
Martin, TN 38237
University Center · Retail Property For Sale

University Plaza presents a premier retail investment opportunity in Martin, Tennessee, offering a compelling blend of stability, visibility, and growth potential. This established center spans 79,700 square feet on 17.20 acres and is anchored by nationally recognized credit tenants Kroger (Ruler Foods), Farmers Furniture, and Aaron’s, each secured under long-term leases extending through 2027–2030 with multiple renewal options. The property delivers a robust net operating income of $513,900 and an attractive 6.9% CAP rate on a $7.5 million asking price, making it a strong income-producing asset.
Strategically positioned on University Street, the center benefits from 11,800 vehicles per day and sits less than one mile from the University of Tennessee at Martin, a major economic driver contributing $500 million annually to the local economy. This proximity ensures a steady flow of over 6,900 students and 1,200 faculty/staff, creating a reliable customer base. The trade area extends well beyond Martin, drawing 63% of shoppers from more than seven miles away due to limited retail competition in Northwest Tennessee.
Recent capital improvements, including a roof replacement in 2019 under warranty until 2029, minimize near-term expenses. Shadow-anchored by Rural King and complemented by national and regional outparcels such as Burger King, O’Reilly Auto Parts, and Cook Out, University Plaza offers exceptional co-tenancy and sustained traffic. With strong demographics, high visibility, and proven tenancy, this asset represents a rare opportunity for investors seeking long-term stability and upside in a thriving market.