Getwell Oaks Shopping Center Photo Gallery

The 38111 ZIP code features a population of 44,178, with a median age of 34 and a diverse racial makeup dominated by African Americans at around 65%, followed by White (25%) and Hispanic (8%) residents. Median household income stands at $52,806, below the national average, with 22% of residents below the poverty line. This supports value-driven retail like discount stores and groceries, but limits spending on luxury goods. High renter occupancy (48%) indicates transient populations, potentially affecting loyalty but ensuring consistent local footfall estimated at moderate levels for neighborhood centers.

Memphis retail market shows robust occupancy at 96.3% citywide in 2025, with neighborhood centers like Getwell Oaks experiencing low vacancy around 4%. Competition includes nearby Cross Rhodes Shopping Center with similar discount tenants, but limited big-box presence allows niche positioning. Footfall benefits from 25,000 daily vehicles on Getwell Road, though saturation in grocery and dollar stores poses risks. Strengths lie in underserved ethnic markets, while weaknesses include indirect competition from online retail eroding 5-10% of sales annually per ICSC data.

Lease rates for spaces in Getwell Oaks average $16-18 PSF NNN, with terms typically 5-10 years including 3-5% annual escalations and common area maintenance fees of $4-5 PSF. Advantages include flexible bay sizes (1,000-9,000 SF) suitable for small retailers. Risks encompass aging infrastructure from 1970s-era builds, potentially requiring tenant improvements costing $20-30 PSF, and exposure to local economic volatility with Memphis unemployment at 4.2%. Accessibility via I-240 is a plus, but pedestrian challenges and occasional flooding on Getwell Road could impact operations.