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: 3/26/2018

Overview / Comments

Description:
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
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
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,165 SF
Year Built: 1954
Year Renovated: 2016
Construction/Siding: Brick
Parking Type: Surface
Total Parking Spaces: 18
Sprinklers: None
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Beautiful hardwood floors, freshly painted, large offices.
Zoning Description: CMU-1
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

Contact

Photograph of Listing Agent

Jeff Waddell

Crye-Leike
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