5091 Park Ave
Absolute net ground lease investment in a fully leased Back Yard Burgers location at 5091 Park Avenue, Memphis, offered at $1,400,000 at a 6.67% cap ($93,390 NOI). The single-tenant asset carries a ground lease through November 30, 2035, with no landlord responsibilities and below-market rental rates, making it an ideal passive income vehicle for 1031 buyers and institutional investors.
The 899 SF building was constructed in 1994 and renovated in 2022. It sits on a 0.657-acre CMU1-zoned parcel. The current lease term runs approximately 11 years, with a five-year renewal option available upon 120 days' notice to the landlord. The absolute net structure means the tenant covers all operating expenses, taxes, insurance, and maintenance, leaving the owner with pure lease income and zero management burden.
- Absolute net ground lease through November 30, 2035
- Below-market rental rates with built-in upside at renewal
- Five-year renewal option with 120 days' notice
- Fully renovated 2022; passive, management-free income
- 6.67% cap rate; 1031-eligible investment
More property details
Location & transit
Buses
Airport
Absolute net ground lease investment opportunity available for sale at 5091 Park Avenue, featuring a fully leased Back Yard Burgers location. The 899 SF property is subject to an absolute net lease, with no landlord responsibilities, providing a streamlined ownership structure. The current base lease term runs through November 30, 2035, with below-market rental rates and a five-year renewal option available with 120 days’ notice to the landlord. The property is zoned CMU1 and offers a 6.67% capitalization rate. Please refer to the full Offering Memorandum for additional property and lease details.
Transit data provided by Google. Times and distances are estimates.