16600 US Highway 64, Somerville, TN 38068

Office for Sale
Catylist Listing ID: 30343003
Property Subtypes: Mixed Use
Building Size (RSF): 6,781 SF
Gross Building Area: See Agent
Sale Price: $290,000
Unit Price: $42.77 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/27/2018

Overview / Comments

Sale Notes
This is a very nice office building with brick exterior and steel 'I' beam construction. There are 3 offices currently leased. The front retail space is leased to Deal Mark and has 2.5 years left on the lease. There is also a one person office space available. There is an additional lot that is included with the sale of this building.

This building is located right on Hwy 64 adjacent to the McDonalds and near the town square in Somerville.

Current Tenants

Tenant Business Name Deal Mark
Is Renting? Yes
Annual Revenue $10,200 (Annual)
SF of Space Occupied 2,500 SF
Tenant Business Name Public Defender
Is Renting? Yes
SF of Space Occupied 2,000 SF
Current Rent $24,600 PSF (Annual)
Tenant Business Name Fayette Fire and Security
SF of Space Occupied 500 SF
Current Rent $4,200 PSF (Annual)
Tenant Business Name MetLife Agent
SF of Space Occupied 400 SF
Current Rent $3,000 PSF (Annual)

Additional Details

Nearest MSA: Memphis
County: Fayette
Tax ID/APN: 090B-B-013.00
Zoning: B2
Property Located Between: HWY 64 and Somerville Street
Property Visibility: Excellent
Number of Stories: 1
Year Built: 1918

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,686 3,381 5,936
Median Age: 40.38 39 41.1
Households: 698 1,334 2,279


Photograph of Listing Agent

Susan Hines

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