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610-626 Minor Rd
Memphis, TN 38111
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Value Added opportunity for an experienced investor to acquire the property and get new tenants at market rate.
- 4,000 SF former Crossfit endcap space vacant and ready to lease
- Roof replaced in 2019
- Walking distance to The University of Memphis.
EXECUTIVE SUMMARY
Myers Commercial Real Estate is proud to present this retail/flex building nestled in the University of Memphis neighborhood. The property is 15,000 square feet multi tenant strip center. The surrounding retail synergy is a hub for students to eat, live, work, and play. The current tenants provide irreplaceable in-person services to the Community. The property has been well maintained with a new roof in late 2019. The recently built out Southern Animal Hospital cost of $495,000 and the 4,000 SF vacancy recently vacated and ready for immediate occupancy for a new tenant.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
15,000 SF
Building Class
C
Year Built
1964
Price
$2,063,958 CAD
Price Per SF
$137.60 CAD
Cap Rate
8.28%
NOI
$170,820 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.37
Lot Size
0.92 AC
Opportunity Zone
Yes
Zoning
CMU-2
Parking
10 Spaces (0.66 Spaces per 1,000 SF Leased)
Frontage
PROPERTY TAXES
| Parcel Number | 04-6011-0-0022C | Improvements Assessment | $353,842 CAD |
| Land Assessment | $127,935 CAD | Total Assessment | $481,778 CAD |
PROPERTY TAXES
Parcel Number
04-6011-0-0022C
Land Assessment
$127,935 CAD
Improvements Assessment
$353,842 CAD
Total Assessment
$481,778 CAD
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