Investment Property in Heart of East Memphis!

Office for Sale
Catylist Listing ID: 30073092
Property Subtypes: Medical, Office Building
Building Size (RSF): 2,165 SF
Gross Land Area: 0.25 Acres
Sale Price: $549,000
Unit Price: $253.58 PSF
Property Use Type: Investment
Class of Space: Class A
Usable Size (USF): 2,165 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 7/24/2018

Overview / Comments

Commercial Office/Retail with 11 offices, reception area, kitchenette, 2 restrooms, 2 HVAC systems and 18 parking spaces. Storage unit in rear parking lot. Currently 100% occupied with long-term lease.

Located in the heart of highly desirable East Memphis. Reddoch Cove is right off of heavily trafficked Poplar Avenue and less than 1 mile from I-240. Average daily traffic count on Poplar @ Reddoch is 46,084.

Additional Details

Nearest MSA: Memphis
County: Shelby
Taxing Authority: Shelby County / Memphis
Tax ID/APN: 056038 00015
Zoning: CMU-1
Property Located Between: Poplar @ Reddoch Cove
Property Visibility: Excellent
Highway Access: Easily accessibility to I-240 (less than 1 mile!)
Airports: MIA
Area Description: Highly desirable East Memphis - located at Poplar @ Reddoch near Bud Davis Cadillac. This area is a main artery of Memphis, with Poplar Avenue having a daily traffic count of 42,996 (2016 stats) right at the corner of Poplar @ Reddoch!
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,165 SF
Year Built: 1954
Year Renovated: 2016
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Brick exterior, single story building. Storage building in rear.
Parking Type: Surface
Parking Description: Parking in front and rear.
Total Parking Spaces: 18
Sprinklers: None
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, DSL
Interior Description: Beautiful hardwood floors, freshly painted, large offices.
Zoning Description: The CMU-1 District is intended to provide for neighborhood serving commercial, office, and employment uses. Residential uses are encouraged above the ground floor. Compatible nonresidential uses should be located within walking distance to the established residential neighborhoods they are designated to serve. Auto­oriented uses are not appropriate in this district. Typical retail uses vary from 1,000 to 15,000 square feet of ground floor area.
Lot Frontage: 102 ft
Lot Depth: 125 ft
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Parcel ID: 056038 00015 Property Address: 993 REDDOCH CV Municipal Jurisdiction: MEMPHIS Neighborhood Number: 00717C58 Tax Map Page: 153I Acres: 0.2490

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,125 99,483 279,890
Median Age: 40.42 37.39 34.77
Households: 4,097 41,058 110,033


Photograph of Listing Agent

Jeff Waddell

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