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Shelby County Community Services - Memphis 1188 Minna Pl 13,456 SF Office Building Memphis, TN 38104 $2,890,825 CAD ($214.84 CAD/SF) 9.26% Cap Rate
Investment Highlights
- 100% occupied by Shelby County Government (Shelby County Community Services).
- The lease offers 2% annual escalations, offering a strong hedge against inflation.
- New roof was installed in 2020 with a 10-year warranty.
- The tenant just renewed the lease for an additional 5 years (firm), demonstrating their commitment to the site.
- The site includes the parking lot on South of Minna Pl, a generous parking ratio of 5.8 stalls per 1000 SF.
- Shelby County guarantees the lease and has an investment-grade credit rating of AA+ (S&P).
Executive Summary
Sands Investment Group is pleased to exclusively offer for sale the 13,456 SF Shelby County Community Services facility, located at 1188 Minna Place in Memphis, TN. The property is 100% occupied by the Shelby County Government (Shelby County Community Services) under a lease backed by a full county guarantee. The lease provides 2% annual rent escalations, delivering a reliable income stream and a strong hedge against inflation.
In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394
In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
13,456 SF
Building Class
C
Year Built/Renovated
1969/2020
Price
$2,890,825 CAD
Price Per SF
$214.84 CAD
Cap Rate
9.26%
NOI
$267,663 CAD
Tenancy
Single
Building Height
4 Stories
Typical Floor Size
3,364 SF
Building FAR
0.33
Lot Size
0.95 AC
Opportunity Zone
Yes
Zoning
CH
Parking
50 Spaces (3.72 Spaces per 1,000 SF Leased)
Amenities
- Restaurant
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Shelby County Community Services Agency
- Administrative and Support Services
- 13,456 SF
- $27.28 CAD
- Sep 2030
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Shelby County Community Services Agency | Administrative and Support Services | 13,456 SF | $27.28 CAD | Sep 2030 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 03-2035-0-0007 | Improvements Assessment | $330,294 CAD |
| Land Assessment | $31,114 CAD | Total Assessment | $361,408 CAD |
Property Taxes
Parcel Number
03-2035-0-0007
Land Assessment
$31,114 CAD
Improvements Assessment
$330,294 CAD
Total Assessment
$361,408 CAD
Contacts
-
Ethan Offenbecher -
Baker Baine -
Zuhare Rizvon -
Thomas Gorman -
Sands Investment Group Austin, LLC
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Shelby County Community Services - Memphis | 1188 Minna Pl
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