Renaissance Professional Park

Office for Sale
Catylist Listing ID: 30001132
Property Subtypes: Business Park, Medical, Office Building
Building Size (RSF): 22,450 SF
Gross Land Area: 4 Acres
Sale Price: $3,800,000
Unit Price: $169.27 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Renaissance Professional Park
Class of Space: Class A
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 8.3%
Average Occupancy Rate: 75
Last Updated: 9/5/2018

Overview / Comments

Located in Eads, this upscale office building offers immaculately-kept grounds and a convenient location.

Located in growing western Fayette County on highly trafficked Highway 64. Less than 10 minutes from Memphis!

Attachments & Media

Current Tenants

Tenant Business Name FAYETTE FAMILY VISION
Industry Type Health Care and Social Assistance
Is Renting? Yes
Suite Number 500, 600
SF of Space Occupied 2,400 SF
Current Rent $3,340 PSF (Annual)
Lease Expiration 9/2018
Tenant Business Name LIGHTHOUSE FAMILY DENTISTRY
Contact Name Dr. Marilyn Phillips
Industry Type Health Care and Social Assistance
Is Renting? Yes
Suite Number 100, 200
SF of Space Occupied 2,400 SF
Current Rent $3,000 PSF (Annual)
Lease Expiration 5/2019
Tenant Notes 3159 US Hwy. 64, Suites 100 and 200
Tenant Business Name FAYETTE ORTHODONTICS
Contact Name Peter Jang
Industry Type Health Care and Social Assistance
Is Renting? Yes
Suite Number 400
SF of Space Occupied 1,300 SF
Current Rent $1,625 PSF (Annual)
Tenant Notes 3161 #400
Tenant Business Name RALEIGH GROUP
Industry Type Health Care and Social Assistance
Is Renting? Yes
Suite Number 100, 200
SF of Space Occupied 2,400 SF
Current Rent $3,200 PSF (Annual)
Lease Expiration 10/2018
Tenant Notes 3161 Hwy 64 #100 and #200
Tenant Business Name BRINK PEDIATRIC DENTAL
Contact Name Joshua Brinks
Is Renting? Yes
Suite Number 500, 600
SF of Space Occupied 2,400 SF
Current Rent $3,200 PSF (Annual)
Lease Expiration 10/2018
Tenant Notes 3159 US Hwy 64 #500 and #600
Tenant Business Name RENAISSANCE REALTY
Industry Type Real Estate and Rental and Leasing
Is Renting? Yes
Suite Number 200
SF of Space Occupied 4,027 SF
Current Rent $5,033 PSF (Annual)
Lease Expiration 5/2011
Tenant Notes 3157 US Hwy 64 #200
Tenant Business Name C2 CONSULTANTS, INC
Is Renting? Yes
Suite Number 102, 110
SF of Space Occupied 2,746 SF
Current Rent $3,000 PSF (Annual)
Lease Expiration 7/0021
Tenant Notes 3157 US HWY 64, STE. 102 & 110
Tenant Business Name CLOSE TRAK
Industry Type Real Estate and Rental and Leasing
Is Renting? Yes
Suite Number 300
SF of Space Occupied 1,200 SF
Current Rent $1,500 PSF (Annual)
Lease Expiration 4/0019
Tenant Notes 3159 US HWY 64 STE. 300

Additional Details

Nearest MSA: Memphis
County: Fayette
Taxing Authority: Fayette County
Tax ID/APN: 085 011.21
Zoning: COMMERCIAL
Property Located Between: Hwy 196 and Shady Oaks Dr.
Property Visibility: Excellent
Highway Access: Property is located on Highway 64 in Hickory Withe, TN
Airports: MEM
Site Description: 3 buildings located on 4 acres
Area Description: Located in rapidly growing Fayette County! Access to property by Highway 64 and Highway 196.
Total Number of Buildings: 3
Year Built: 2006
Roof Type: Gable
Construction/Siding: Brick, Stone
Exterior Description: Upscale with beautiful detail; immaculately kept landscaping and grounds!
Parking Type: Surface
Parking Description: Ample parking - private lot
Total Parking Spaces: 118
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: 8-2, Neighborhood Business. Within the areas designated B-2 on the Official Zoning Map of Fayette County, Tennessee, the following regulations shall apply: Locational Criteria: B-2 Districts shall be established only on property having one or more of the following characteristics: with frontage on a major road, or at an intersection where the major frontage is on a collector or major road. Permitted Uses: Convenience type retail stores; restaurants, provided, however, no alcoholic beverages shall be consumed on premises; automobile service stations; accessory structures and uses incidental to any of the permitted uses; provided, further, a commercial structure may include living quarters for the owner or an employee but not for rent or lease; and provided further that structures not having common walls shall be no less than twelve (12) feet apart. Maximum Site Size - None. Minimum Site Size - Two (2) acres. Minimum Required Frontage Along a Collector or Major Road - Two hundred (200) feet along one public road. Minimum Building Setback From Any Public Road - Eighty (80) feet from the centerline of the road, provided, however, no building shall be closer than forty (40) feet to any public road right-of-way line, except as required in Section 11 of Article V. Minimum Building Setback From Any Property Line on the Periphery of the District But Not Adjoining a Public Road Easement - Thirty (30) feet. Maximum Buildable Area - Not more than thirty (30) percent of the total lot area shall be covered with buildings(s). Access Control - Prior to the adoption of an amendment creating a 8-2 District, a design of the proposed vehicular access to the district meeting the requirements of Article V of this Resolution shall be reviewed and approved in writing by the Director of Public Works and the appropriate official when the access is to a state or federal highway.
Lot Frontage: 130
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Parcel 011.21

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,570 23,698
Median Age: 44.67 36.84
Households: 1,708 8,160

Contact

Photograph of Listing Agent

Jeff Waddell

Crye-Leike
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