Available

Frayser Village Shopping Center

2562-2640 Frayser Blvd, Memphis, TN 38127

141,611 SF

Total GLA

88%

Occupancy

$1,293,555

Existing NOI

17.93 AC

Land Size

Property Overview

Overview

Frayser Village Shopping Center is a Kroger-anchored retail center serving a trade area of more than 306,000 residents within a 15-minute drive. The 141,611-square-foot property benefits from over 32 years of Kroger tenancy, approximately 1.7 million annual visits, and a strong mix of necessity-based retailers. With existing vacancy and leasing upside, Frayser Village offers investors the opportunity to grow cash flow while acquiring a dominant neighborhood shopping center in North Memphis.

Property Details

Property Highlights

Address	2562-2640 Frayser Blvd, Memphis, TN 38127
Year Built	1968 & 1972 \| 2010
Total GLA	141,611 SF
Total Land Size	17.93 Acres
Leased	88%
Existing NOI	$1,293,555
Financing	Free & Clear

Why This Deal

Investment Highlights

Established Grocery Anchor

Kroger has anchored Frayser Village Shopping Center for over 32 years, reflecting strong location loyalty and consistent consumer demand. According to Placer.ai, this Kroger ranks 4th out of 21 grocery stores within a 5-mile radius.

Long Term In-Place Tenancy

Ten tenants at the Property, collectively occupying nearly 74% of the total GLA, have operated at the center for more than 15 years. This longstanding tenancy underscores the asset’s stability, reflects strong tenant satisfaction, and demonstrates the center’s ability to retain businesses through multiple economic cycles.

Highly Trafficked Shopping Center with Limited Competition

Frayser Village Shopping Center ranks 3rd out of 15 shopping centers within a five-mile radius for total visits over the past twelve months, based on Placer.ai geofencing foot traffic data.

Value-Add Opportunity

At 88% occupancy, the property offers a clear value-add opportunity through lease-up. Furthermore, the 5,777 SF vacancy (Suite 2562), which benefits from its frontage along Frayser Blvd, provides flexibility to backfill the space with a single user or reconfigure the space into multiple smaller shop suites.

Outparcel Development Potential

The shopping center features excess surface parking that provides a compelling opportunity for future outparcel development. This optionality allows ownership to enhance NOI through ground leases or pad sales while preserving the functionality and access of the existing center.

Necessity-Based Retail

Frayser Village features a necessity-based mix of daily-needs and service-oriented tenants that are largely insulated from e-commerce. Kroger drives consistent daily traffic, while the center’s location along North Memphis’ primary east-west retail corridor captures both neighborhood and commuter demand.

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