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1188 Minna Pl
Memphis, TN 38104
Shelby County Community Services - Memphis · Office Property For Sale
INVESTMENT HIGHLIGHTS
- 100% occupied by Shelby County Government (Shelby County Community Services).
- The lease offers 2% annual escalations, offering a strong hedge against inflation.
- New roof was installed in 2020 with a 10-year warranty.
- The tenant just renewed the lease for an additional 5 years (firm), demonstrating their commitment to the site.
- The site includes the parking lot on South of Minna Pl, a generous parking ratio of 5.8 stalls per 1000 SF.
- Shelby County guarantees the lease and has an investment-grade credit rating of AA+ (S&P).
EXECUTIVE SUMMARY
Sands Investment Group is pleased to exclusively offer for sale the 13,456 SF Shelby County Community Services facility, located at 1188 Minna Pl in Memphis, TN. The property is 100% occupied by the Shelby County Government (Shelby County Community Services) under a lease backed by a full county guarantee. The lease provides 2% annual rent escalations, delivering a reliable income stream and a strong hedge against inflation.
In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394
In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
13,456 SF
Building Class
C
Year Built/Renovated
1969/2020
Price
$2,119,000
Price Per SF
$157.48
Cap Rate
9.50%
NOI
$201,334
Tenancy
Single
Building Height
4 Stories
Typical Floor Size
3,364 SF
Building FAR
0.61
Lot Size
0.51 AC
Opportunity Zone
Yes
Zoning
CH
Parking
50 Spaces (3.72 Spaces per 1,000 SF Leased)
AMENITIES
- Restaurant
- Signage
PROPERTY TAXES
| Parcel Number | 03-2035-0-0007 | Improvements Assessment | $238,640 |
| Land Assessment | $22,480 | Total Assessment | $261,120 |
PROPERTY TAXES
Parcel Number
03-2035-0-0007
Land Assessment
$22,480
Improvements Assessment
$238,640
Total Assessment
$261,120
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