3961 New Covington Pike | Memphis, TN
Marcus & Millichap is pleased to present a 3,794+\- freestanding Burger King restaurant situated on a 0.93 acre lot in Memphis (Shelby County), Tennessee. The property is a well-positioned outparcel to a Walmart Supercenter at the corner of Austin Peay Highway and Covington Pike. Austin Peay Highway experiences average traffic counts of over 36,000 vehicles daily, providing the subject property with a steady flow of customers. This Burger King also sits adjacent to Methodist North Hospital, a 246-bed community hospital serving the area for more than 40 years. Additionally, the population within a fivemile radius of the property is roughly 140,641 people, providing ample customers for this Burger King.
This Burger King is in the heart of a dense retail corridor with major tenants nearby including Walmart, Kroger, Walgreens, Wendy’s, Pizza Hut, Popeyes, Circle K, Regions Bank, Goodwill, and more. The city is in the process of a major redevelopment of the Raleigh Springs Civic Center; just 1.5 miles down Austin Peay Highway. This $42 Million dollar project includes a police station, library, skatepark, an 11-acre lake with walking trails, and 20 acres of additional retail development.
Proven & Profitable Location. Outparcel to Super Walmart Shopping Center
Absolute Net Lease Investment, No Landlord Responsibility
10% Increases every 5 years. Long-term Tenancy since 1995
Carrols Restaurant Group (NASDAQ: TAST) Largest Burger King Operator in the world with over 1,090 units
No State Income Tax in Tennessee
Strong Demographics: Memphis MSA Commercial and Distribution Hub