28,029 SF Redevelopment Opportunity
Flexible Multi-Building Configuration
Marketing description
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Memphis Redevelopment Opportunity at 3449, 3455, 3457 Summer Ave, Memphis, TN 38122 presents a rare chance to acquire a vacant urban infill asset in one of Memphis’ most active retail corridors. Situated on ±1.06 acres with three buildings totaling approximately ±28,029 SF, this flexible property is ideal for redevelopment, repositioning, lease-up, or adaptive reuse. Located along high-visibility Summer Avenue, the site benefits from traffic counts of approximately 23,585 vehicles per day, with immediate access to Sam Cooper Boulevard, which sees roughly 42,394 VPD. The multi-building layout supports a wide range of potential uses, including retail, showroom, warehouse, creative office, entertainment, or mixed-use concepts. Surrounded by national and regional retailers such as Kroger, Ross Dress for Less, TJ Maxx, McDonald’s, AutoZone, Starbucks, Lowe’s, and Walgreens, the property is positioned within a dense and established trade area. The surrounding demographics are equally compelling, with more than 233,141 residents within a 5-mile radius and average household income of $91,888. With 30+ parking spaces, strong frontage, and significant upside potential, this is an exceptional value-add opportunity in the heart of Memphis!
- Non-Contingent
- Earnest Money Deposit is Greater of $20,000 or 10% of the Purchase Price
- Marketing Fee: 5% of the Winning Bid Amount, $20,000 minimum
- $10,000 Participation Deposit
3449, 3455, 3457 Summer Ave, Memphis, TN 38122
Investment highlights
TN Auctioneer Stephen Dawson TN 7746
- Redevelopment / Repositioning Opportunity: The Property is currently fully vacant, allowing investors the opportunity to reposition, redevelop, lease-up, or repurpose the asset without existing tenant restrictions.
- High Traffic Infill Location: Strategically positioned along Summer Avenue with approximately 23,281 VPD and immediate proximity to Sam Cooper Boulevard seeing approximately 42,394 VPD, providing exceptional visibility and accessibility.
- Flexible Multi-Building Configuration: The Property consists of three separate buildings totaling approximately ±28,092 SF allowing flexibility for retail, showroom, warehouse, creative office, entertainment, or mixed-use redevelopment strategies.
- Strong Retail Corridor: The Summer Avenue corridor continues to attract strong national tenancy and retail demand with surrounding retailers including Kroger, Ross Dress for Less, TJ Maxx, Dollar General, McDonald’s, Valero, and more.
- Attractive Basis Relative to Replacement Cost: The Property is being offered via auction creating the opportunity to acquire a large urban infill site at a basis significantly below replacement cost.
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