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6347-6359 E Navy Rd 13,350 SF 100% Leased Retail Building Millington, TN 38053 $2,000,000 ($149.81/SF) 9.48% Cap Rate
EXECUTIVE SUMMARY
This 13350 sq ft building on 2.27 acres with 106 parking spaces houses 2 tenants and owner operated Busy Bubbles laundromat. Lease terms 6347 Navy $2828.48 15 year exp Aug 31, 2039 5% annual increase. 6353 Navy On The Rox Bar and Grill, 36 mo $2,800 mo. 6357 Navy Busy Bubbles generates average monthly revenue of $8,000, the ATM generates $200 per month. 6365 Navy, Pops Bar and Grill, $2025, exp Jan 31, 2026 ,5% annual increase. Roof warranty expires Oct 28, 2028. Shelby County Tax only - $8701.45. Insurance $5334. Utilities average $12,000 annually.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,350 SF
Building Class
C
Year Built
1953
Price
$2,000,000
Price Per SF
$149.81
Cap Rate
9.48%
NOI
$189,600
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.14
Lot Size
2.27 AC
Opportunity Zone
Yes
Zoning
CL - Intended for small-scale commercial development that serves nearby residential developments
Parking
108 Spaces (8.09 Spaces per 1,000 SF Leased)
Frontage
290’ on Navy Rd
AMENITIES
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
PROPERTY TAXES
| Parcel Number | D0-116D-C0-0008 | Improvements Assessment | $301,280 |
| Land Assessment | $73,520 | Total Assessment | $374,800 |
PROPERTY TAXES
Parcel Number
D0-116D-C0-0008
Land Assessment
$73,520
Improvements Assessment
$301,280
Total Assessment
$374,800
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6347-6359 E Navy Rd
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