Centennial Place Shopping Center Memphis, TN

7771 Winchester Road
Memphis, TN

Price: $12,250,000
Cap Rate: 7.66%
NOI: $938,138
Building Size: Approx. 126,849 Sq. Ft.
Lot Size: Approx. 10.6 Acres
Type: Multi-Tenant / Retail
Sub Category: Retailer
Year Built: 2006

Investment Overview

  • 2006 Construction. 126,849 +/- SF Building on 10.6+/- Acre Site
  • Priced Well Below Replacement Costs – At an Ask-Price of Only $96.57 Per Foot, the Property is Priced Well Below Replacement Cost
  • Below Market Rents – The Average Base Rent in the Center is $8.19 psf, While Similar Boxes are $12.00 psf
  • Highly Trafficked, Dominant Retail Corridor – With Traffic Counts of Over 40,000 VPD
  • The Property Benefits from its Location Across the Street from the Much-Anticipated Top Golf/Mixed-Use Residential Development
  • Strong Demographics with High Spend Power – Within a 5-Mile Radius, Centennial Place Boasts an Average HH Income of $90,307
  • Memphis  |  Home to 3 Fortune 500 Companies  |  Population: 650,910+