2-Tenant Net Leased Retail in Tennessee 2286 N Germantown Pky 6 200 pi² 100% Loué Commerce de détail Immeuble Cordova, TN 38016 4 554 764 $ CAD (734,64 $ CAD/pi²) 6,75% Taux de capitalisation

Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell, Inc., as exclusive advisors for Seller, are excited to present investors with the opportunity to acquire the fee simple interest in a premier two-tenant retail asset located in the thriving Cordova submarket of Memphis, Tennessee (the “Property”). Originally developed in 2015, the 6,200 square foot building sits on a generous ± 1.00-acre parcel and is fully leased to Vitamin Shoppe and Pyros Pizza, both original tenants with long-term occupancy histories. Vitamin Shoppe operates under a corporate-backed triple net lease and recently exercised the first of two five-year renewal options, with one remaining option including a $3.00/SF rental increase. Pyros Pizza is also operating under a NNN lease and has similarly exercised its first renewal option early, bringing the base term remaining to 10 full years and featuring a $3 PSF increase at the start of year 6 (2030). The Property features a strong 8.55:1,000 SF parking ratio and a transferable 20-year roof warranty in place through December 2034, offering durable income with minimal near-term capital requirements.
Strategically located at the signalized intersection of N Germantown Parkway and Varnavas Drive, the Property sits just off Interstate 40, the major east-west artery spanning the state of Tennessee from Memphis to Knoxville. This high-traffic retail corridor (58,000+ VPD) is anchored by destination draws including the only IKEA in Tennessee, one of just two Costco locations in the metro area, and national retailers such as Kohl’s, Ashley HomeStore, Dick’s Sporting Goods, and Ross. Directly across the freeway lies Wolfchase Galleria, the region’s largest shopping mall, alongside big-box anchors like Target and Home Depot. The Cordova submarket is a well-established and growing residential hub, supported by average household incomes approaching $100,000 within a three-mile radius.
Northeast Memphis, and Cordova in particular, is one of the most rapidly growing and sought-after subregions in the metro area. The Property is adjacent to Colonial Country Club, a top-tier private golf facility, and just over a mile from The Springs at Colonial, a 300-unit multifamily project nearing completion that will further enhance the local residential density. The area’s growth is also being fueled by regional economic drivers such as Ford Motor Company’s BlueOval City, a $5.6 billion electric vehicle and battery manufacturing campus under development in nearby Stanton. Once operational, BlueOval City is expected to generate approximately 6,000 new jobs, further accelerating the area’s long-term economic vitality. With a strong tenant roster, durable lease structures, and exposure to both established retail anchors and large-scale economic catalysts, the Property offers investors a rare opportunity to acquire a stabilized, low-management asset in one of Memphis’ most dynamic growth corridors.