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Mental Health Cooperative - Memphis, TN 3430 Summer Ave 8,735 SF Office Building Memphis, TN 38122 $1,812,000 ($207.44/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- 4.5 years remaining on the lease term with 3% escalations, offering a hedge against inflation.
- Triple Net (NNN) Lease provides the landlord with passive income and zero landlord responsibilities backed by a 12-unit operator.
- Strong traffic counts of over 26,000 VPD.
- Tenant has substantial costs in their buildout for the space.
- Area retailers include Walgreens, Dollar General, Pizza Hut, AutoZone, Tops BBQ, newly constructed Starbucks, Chick-fil-A, and Chipotle.
- 2.2 miles north of University of Memphis.
EXECUTIVE SUMMARY
Sands Investment Group is Pleased to Offer For Sale Mental Health Cooperative Located at 3430 Summer Avenue, a Stand-Alone Medical Building Located in East Memphis on a High Traffic Road (27,207 AADT). The Building Contains 8,567 SF of Medical Office Space Occupied By Mental Health Cooperative. The Company Reported a Gross Revenue of $64,841,419 in 2020 and is Continuing Its Expansion. There Are 13 Locations Across Tennessee With Their Headquarters Residing in Nashville.
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 NNN
Property Type
Office
Property Subtype
Building Size
8,735 SF
Building Class
C
Year Built/Renovated
1968/2023
Price
$1,812,000
Price Per SF
$207.44
Cap Rate
8%
NOI
$144,949
Tenancy
Single
Building Height
1 Story
Typical Floor Size
8,735 SF
Building FAR
0.24
Lot Size
0.85 AC
Zoning
CMU-3 - Commercial services zoning
Parking
35 Spaces (4.01 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Mental Health Cooperative
- Health Care and Social Assistance
- 8,735 SF
- $16.59
- Triple Net
- Jun 2030
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Mental Health Cooperative | Health Care and Social Assistance | 8,735 SF | $16.59 | Triple Net | Jun 2030 |
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PROPERTY TAXES
| Parcel Number | 03-8037-0-0025C | Improvements Assessment | $216,040 |
| Land Assessment | $75,920 | Total Assessment | $291,960 |
PROPERTY TAXES
Parcel Number
03-8037-0-0025C
Land Assessment
$75,920
Improvements Assessment
$216,040
Total Assessment
$291,960
CONTACTS
-
Ethan Offenbecher -
Baker Baine -
Thomas Gorman -
Sands Investment Group Austin, LLC
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Mental Health Cooperative - Memphis, TN | 3430 Summer Ave
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