Pad to Target/Sprouts | 10+ Yrs, 3% Ann - 3100 Forest Hill Irene Rd

Germantown, TN 38138

• NNN Property
• Retail for Sale
• $3,411,925 CAD
• 3,346 SF

• Restaurant

Germantown Retail for Sale - 385 Corridor

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.

Contact:

Lee & Associates Commercial Real Estate Services

Property Subtype:

Freestanding

Date on Market:

2026-06-08

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Wendy's - 749 S Highland St

Memphis, TN 38111

• NNN Property
• Retail for Sale
• $3,568,129 CAD
• 2,711 SF

Memphis Retail for Sale - Midtown

Surmount is pleased to present the Offering Memorandum for a Wendy's located at 749 S Highland St, Memphis, TN 38111. The site consists of roughly 2,711 rentable square feet of building space on an estimated 0.65-acre parcel of land. This Wendy's is subject to a 20-year Triple Net (NNN) lease, which commenced 5/6/2021. The current annual rent is $138,331 and has scheduled increases of lesser of change in cpi or 1.25% annually.

Contact:

Surmount

Property Subtype:

Fast Food

Date on Market:

2026-06-04

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Popeyes | Abs NNN | Drive-Thru Equipped - 809 Highway 51 N

Covington, TN 38019

• NNN Property
• Retail for Sale
• $2,040,062 CAD
• 3,208 SF

Covington Retail for Sale - Tipton County

• More than 12 years of remaining primary term with two (2) 5-year renewal options, providing stable in-place income and long-term extension potential • 10% rental increases every 5 years during the primary term and at the beginning of each option period support NOI growth and provide a hedge against inflation • The tenant, Popeyes Louisiana Kitchen, Inc., is a corporate entity for Popeyes, one of the world’s largest chicken QSR brands with more than 5,000 locations • The property features drive-thru infrastructure, promoting efficient customer flow and supporting tenant performance

Contact:

SRS National Net Lease

Property Subtype:

Fast Food

Date on Market:

2026-06-01

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6089 Apple Tree Dr

Memphis, TN 38115

• NNN Property
• Office for Sale
• $1,064,010 CAD
• 4,284 SF

Memphis Office for Sale - 385 Corridor

Property under a recently signed 5 year lease.

Contact:

Crye-Leike Commercial

Date on Market:

2026-04-30

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The Conrad Pearson Clinic - 1325 Wolf Park Dr

Germantown, TN 38138

• NNN Property
• Office for Sale
• $39,723,039 CAD
• 33,777 SF

Germantown Office for Sale - East

Long Term Leases with Annual Growth Both Leases Feature Annual Rental Increases Throughout Term Triple Net Lease Structure Tenant Fully Responsible for All Expenses Relating to the Property with Ability to Collect Reimbursement for Management and Operating Personnel. Purpose Designed Construction Designed and Constructed by The Conrad Pearson Clinic to Accommodate their Specific Needs while Providing a Streamlined Connection of their Clinical and Surgical Practices Significant Growth within Urology Specialty Increasing Incidence of Prostate Cancer and Other Urological Issues with Aging Population to Double in Next 25 years. Projected 10.33% Compounded Annual Growth Rate Through 2030. Major Medical Industry in Memphis, Tennessee Major Institutions Include: St. Jude Children's Research Hospital Methodist Le Bonheur Healthcare Baptist Memorial Health Care These Systems Create a Large Healthcare Workforce, Large Patient Volumes, Clinical Research Opportunities and Demand for Healthcare Services and Suppliers. Healthcare and Life Science in Greater Memphis Compose One of the Largest Industry Clusters in the Region with 88,725 Employees, Accounting for 13% of the Regions Workforce. High Patient Demand + Low Operating Costs Provide Perfect Environment for Success Mid-South Region is Known as the Center of the Chronic Disease Belt which Contributes to Significant Healthcare Demand. Large Regional Population Base and Limited Access to Care in Rural Areas Drives High Patient Volumes. No State Income Tax and a Competitive Corporate Tax Rate Combined with a Cost of Living that is 12% Below the U.S. Average provides a Low-Cost Environment for Healthcare Businesses and Employees.

Contact:

Marcus & Millichap

Property Subtype:

Medical

Date on Market:

2026-03-31

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Family Dollar - 2068 US Highway 64

Whiteville, TN 38075

• NNN Property
• Retail for Sale
• $2,259,900 CAD
• 10,580 SF

Whiteville Retail for Sale

AiCRE Partners Is Pleased To Present Exclusively For Sale The 10,500 Sf Single Tenant, Free Standing Building Leased To Family Dollar Stores Of Tennessee, Llc At 2068 Highway 64 In Whiteville, Tn. This Family Dollar property represents a compelling, newly constructed net-lease investment in the growing community of Whiteville, Tennessee. Delivered in 2024 as a build-to-suit for Family Dollar Stores of Tennessee, LLC, the asset features a long-term double-net lease backed by a corporate guaranty, offering investors durable income with minimal landlord responsibilities. With approximately eight years remaining on the primary term and four five-year renewal options, the lease provides reliable longevity supported by scheduled rental increases at the start of each option period. The property occupies a high-visibility position along US Highway 64, a key regional thoroughfare, ensuring continuous exposure and consistent traffic flow. Its strategic placement in front of Dollar General and adjacent to Exxon, Cb&S Bank, Fastimes Grocer, and other local retail draws enhances cross-shopping and positions the store as a central anchor within the trade area. Local demographics further strengthen the value proposition, with households within a five-mile radius spending over $4 million annually on hobbies, personal items, and entertainment. Traffic counts along Highway 64 exceed 5,900 vehicles per day, anchoring the necessity-based shopping patterns that Family Dollar has historically captured. This offering is supported by a stable income stream of $121,065 in annual base rent, translating to a 7.60 percent cap rate, and the corporate-operated store aligns with Family Dollar’s national strategy of operating combination-format locations that outperform traditional footprints by more than 20 percent in comparable markets. As Whiteville continues its measured growth, fueled by Tennessee’s business-friendly climate and favorable tax environment, this property stands out as a secure and strategic addition to any net-lease investment portfolio.

Contact:

AiCRE Partners

Property Subtype:

Freestanding

Date on Market:

2026-03-03

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5091 Park Ave

Memphis, TN 38117

• NNN Property
• Retail for Sale
• $1,986,152 CAD
• 2,000 SF

Memphis Retail for Sale - East

Absolute Net Ground Lease for Sale. New listing: 5091 Park Avenue, fully leased Back Yard Burgers, for sale. Lease is absolute net with no landlord responsibilities. Base term ends 11/30/2035 with below-market rent. Renewal option for an additional 5-year term with 120 days' notice to landlords. Please see full Offering Memorandum for full details.

Contact:

Crye-Leike Commercial

Property Subtype:

Fast Food

Date on Market:

2026-02-25

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5% Incrs Every 5 Yrs | Replaceable Rents - 3515 Park Ave

Memphis, TN 38111

• NNN Property
• Retail for Sale
• $4,598,438 CAD
• 15,435 SF

Memphis Retail for Sale - East

We are pleased to market for sale the Walgreens property located at 3515 Park Ave, Memphis, TN 38111 ("The Property"). Walgreens has been operating at this location for 24 years and has approximately 9 years remaining on its lease. The lease offers 5% rental increases every 5 years, and in each of the 12 5-year options. Walgreens will be paying $16.80/sf in rent after the next increase, which is in line with the local retail market of $16-18/sf. Walgreens operates on an absolute triple net lease, which provides for no landlord obligations whatsoever. The Property is expected to benefit from the transfer of prescription counts from a nearby Walgreens located 2.3 miles away that is scheduled to close on July 21, 2026. According to Placer.ai, the property ranks in the top 25% of Walgreens nationwide. Strategically located 0.5 miles from the University of Memphis, the property benefits from close proximity to the university with over 24,000 students and faculty, generating steady traffic and pharmacy demand. Situated 5.5 miles from Downtown Memphis, the Property benefits from its close proximity to the city’s core and supports 101,000 households and a total population of over 245,000 within a 5-mile radius. In addition, the property is located 2.5 miles from the FedEx World Hub, the largest sorting facility in FedEx’s global network, employing over 30,000 people locally and generating annual revenues exceeding $45 billion. Positioned within a dense retail corridor, the Property is surrounded by over 8.6 million square feet of existing retail space within a 3-mile radius, with a vacancy rate under 4%. Listed in conjunction with Brian Brockman, Bang Realty - Tennessee Inc, 513-898-1551, wg@bangrealty.com, TN DRE Lic. 343847.

Contact:

Pharma Property Group- Drugstore Specialists

Property Subtype:

Drug Store

Date on Market:

2026-02-10

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