Memphis, Tennessee, a city steeped in history and culture, is an ideal location for a restaurant, offering a unique blend of Southern charm and urban appeal. With a population of over 600,000, Memphis provides a diverse customer base, and its rich music scene, famous barbecue, and attractions like Graceland and the National Civil Rights Museum make it an attractive destination for tourists and locals alike. The city's infrastructure, including the Memphis Light, Gas and Water Division and major hospitals like Methodist Le Bonheur Healthcare and Baptist Memorial Healthcare, ensures a high quality of life for residents. Additionally, Memphis is a major commercial center, with companies like FedEx, International Paper, and AutoZone calling the city home, making it an excellent location for a restaurant for lease.
With 15 restaurants for lease in Memphis, entrepreneurs and investors have a wide range of options to choose from. Memphis's restaurants benefit from the city's strong transportation network, including the Memphis International Airport, Interstate 40, and Interstate 55, making it easy to access and supply goods. In addition to restaurants, Memphis also offers a variety of other commercial properties, including retail space, which can be found in popular shopping districts like the South Main Arts District and Broad Avenue. Commercial real estate is also available, with options ranging from office buildings to warehouses, and flex space, which can be used for a variety of purposes, including light industrial and office use. Overall, Memphis provides a unique and attractive environment for businesses, making it an excellent location for a restaurant for lease.
How are restaurant leases typically structured?
Restaurant leases in Memphis are typically structured with a base rent and additional expenses, such as common area maintenance (CAM) fees, property taxes, and insurance, which can range from $15 to $30 per square foot, depending on the location and amenities. The average annual rent per square foot for a restaurant lease in Memphis is $20 USD, with an average size of 5,222 square feet and a maximum space size of 11,500 square feet.
What kitchen equipment is usually included in restaurant leases?
When exploring restaurant leases in Memphis, you'll typically find that kitchen equipment is included, such as commercial-grade refrigerators, freezers, ovens, stoves, and dishwashers. The specific equipment may vary depending on the property, but these essentials are usually part of the package, allowing you to focus on crafting your menu and serving the city's barbecue-loving residents.
