Pad to Target/Sprouts | 10+ Yrs, 3% Ann 3100 Forest Hill Irene Rd 3,315 SF Retail Building Germantown, TN 38138 $3,356,466 CAD ($1,012.51 CAD/SF) 5.01% Cap Rate

This offering presents the opportunity to acquire a high-performing single-tenant net leased restaurant investment located in Germantown, Tennessee, one of the most affluent and established suburban communities within the Memphis MSA.
The property is strategically positioned as a highly visible outparcel to The Shops of Forest Hill, a Target and Sprouts Farmers Market-anchored shopping center serving one of the region’s most desirable retail trade areas. According to Placer.ai, The Shops of Forest Hill ranks in the Top 13% of community shopping centers in Tennessee and the Top 19% of shopping centers within a 15-mile radius, benefiting from a diverse mix of national retailers, restaurants, service providers, and entertainment uses.
The investment is secured by a long-term net lease featuring 3% annual rental increases and more than 10 years of remaining lease term, providing investors with attractive contractual income growth. The location has demonstrated strong operating performance, supported by an exceptionally low 4.3% rent-to-sales ratio and five years of successful operations at the property.
Gus’s World Famous Fried Chicken is an iconic restaurant concept with deep Memphis roots dating back to 1953 and has expanded to more than 35 locations across 15 states. The brand enjoys strong recognition throughout the Mid-South and has developed a loyal customer following nationwide.
The property benefits from exceptional demographics, including average household income exceeding $284,000 within one mile and approximately 49,000 residents within three miles. Located near the signalized intersection of Forest Hill Irene Road and Poplar Avenue, the asset enjoys strong visibility, excellent accessibility, and proximity to major employment drivers, including FedEx World Headquarters, located approximately seven miles from the property.
Combining a proven restaurant operator, strong location fundamentals, contractual rent growth, exceptional demographics, and irreplaceable Germantown real estate, the offering presents a compelling opportunity to acquire a premier net leased retail investment in one of Tennessee’s most desirable suburban markets.