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3430 Summer Ave
Memphis, TN 38122 Berclair

$1,812,000 USD

Medical For Sale  •  8,735 SF

Property Details

• Property Type Medical
• Total Building Size 8,735 SF
• Lot Size 0.85 AC
• Building Class C
• Year Built 1968
• Cap Rate 8.00 %
• Tenancy Single
• Zoning CMU-3

32 Transit Score

63 Walk Score

Highlights

4.5 years remaining on the lease term with 3% escalations, offering a hedge against inflation.

Tenant has substantial costs in their buildout for the space.

Triple Net (NNN) Lease provides the landlord with passive income and zero landlord responsibilities backed by a 12-unit operator.

Area retailers include Walgreens, Dollar General, Pizza Hut, AutoZone, Tops BBQ, newly constructed Starbucks, Chick-fil-A, and Chipotle.

Strong traffic counts of over 26,000 VPD.

2.2 miles north of University of Memphis.

Cap Rate:

8.00 %

Major Tenants

Tenant	SF Occupied	Lease End Date
Mental Health Cooperative	8,735 SF	6/30/2030

Amenities

• Bus Line
• Signage

Public Transportation

Commuter Rail	Drive	Walk	Distance
Central Station (Riverfront Loop - Memphis Area Transit Authority Trolley (MataTrolley))	15 min	-	7.9 mi
Airport	Drive	Walk	Distance
Memphis International	17 min	-	9.9 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	35
Type:	Surface
Included in Rent:	Yes