Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2211/ Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing, QSR/restaurant located at 1723 Union Avenue in Memphis, Tennessee (the “Property”). Strategically located on a hard corner across from Kroger, this QSR is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount. FIRST BID MEETS RESERVE! Built in 1994, the Property is improved with a one-story, single-tenant, QSR/restaurant building totaling ±834 square feet and includes 13 parking spaces and 1 ADA parking space. The Property is strategically positioned on ±0.40 acres of land with one ingress/egress curb cut for easy access. This QSR is complete with two drive-thrus to maximize both sales and convenience and offers an outside seating area for quick dining. Formerly occupied by Backyard Burger on a net lease, the Property offers potential owner-users or investors the ability to acquire a versatile building with significant value-add potential through lease-up at competitive market rates (CoStar estimated rents of $18-22/NNN Retail). Zoned “CH” Highway Commercial District, this classification allows for a broad range of retail uses through adaptive reuse or repositioning. The Property is situated in the heart of Memphis, on the Southwest Corner of Union Ave and Lemaster Street in the Downtown/Midtown submarket. Located along a bustling retail corridor on Union Ave, the Property enjoys prominent frontage, with high visibility and significant traffic exposure (±44,681 VPD). The strategic location is further enhanced by its proximity to Kroger and numerous other national and regional retailers, making it a prime opportunity for businesses seeking excellent visibility in a dense urban setting. The Memphis Medical District, one of the city’s largest employment hubs, along with other major medical demand drivers are within ±1-mi including the University of Tennessee Health Science Center; Le Bonheur Children’s Hospital (±255 beds); and Methodist University Hospital (±583 beds); and Regional One Health (±631 beds) which collectively draw a steady stream of daily visitors and employees, adding to the Property’s appeal as a convenient dining option. Additionally, the Property is only ±1.3 miles from Overton Square, a popular entertainment district known for its vibrant mix of restaurants, theaters, and nightlife, and just ±1 mile from the Memphis Medical District, one of the city’s largest employment hubs. Positioned in an area with strong demographics, the Property benefits from a population of nearly ±105k people with an Average Household Income (AHHI) of $73k within a 3-mile radius, and ±205k people with an AHHI of $76,000 within an expanded 5-mile radius.