Listed by Trinity Real Estate Investment Services
$1,477,275
Midas
Details
Property Type Retail, Office
Sub Type Storefront, Auto Shop
Square Footage 7,740
Cap Rate 6.6%
NOI $97,500
Occupancy 100%
Tenancy Single
Brand/Tenant AutoZone, Advanced Auto Parts
Lease Type Absolute NNN
Lease Term 20.1
Lease Expiration 10/31/2045
Remaining Term 19.4
Rent Bumps Yes
Lease Options Four (4), 5-Year; 10%
Price per SqFt $191
Year Built 1968
Acreage 0.520
Investment Type Net Lease
Lease Commencement 10/17/2025
Ownership Fee Simple
Retail | 6.60% CAP | 7,740 SqFt
Marketing description
Trinity Real Estate Investment Services is pleased to present the opportunity to acquire a Midas in Memphis, TN. This property features an Absolute NNN lease with zero landlord responsibilities, secured by a full 19.5‑year primary term and attractive 10% rent increases every five years, with the next scheduled for November 2030.
Property Website: https://trinityreis.com/listing/3531-summer-ave/
In cooperation with Brian Brockman at Bang Realty-Tennessee, Inc. | TN #343847 | [email protected] | (513) 898-1551
Investment highlights
- Midas in Memphis, TN with Full 19.5-Year Primary Lease Term
- Absolute NNN Lease, Zero Landlord Responsibilities
- Fee Simple Ownership & Eligible Property to Take Advantage of Benefits for Accelerated Depreciation – Consult Your Tax Professional
- Attractive 10% Rent Increases Every 5 Years; Next Increase in November 2030
- Dense 5-Mile Population of 229,825 Residents
- Great Visibility Along Summer Ave and Easy Access to Sam Cooper Blvd with Combined Traffic Daily Counts of 60,500+ Vehicles
- Subject Property is Surrounded by Apartments and Schools Within 2 Miles, Creating Additional Customer Traffic for the Area
- Near Several National Tenants Including Kroger, Lowe's, TJ Maxx, Dollar General and More
- Few Minutes Away from University of Memphis with Approximately 20K+ Total Enrollment
- Just 7 Miles to Downtown Memphis, the Second-Most Populous City in Tennessee
- Strong Operator With Growing Pipeline – Tenant to Disclose Sales Per Lease
- Landlord Protection Against Environmental Contamination – Inquire With Broker
Listing Contacts
Listed by Trinity Real Estate Investment Services
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$97,500.00
$8,125.00/mo
Valuation Metrics
0
DSCR
6.6%
Cap Rate
6.6%
ROI
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