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668 Colonial Rd 5,958 SF 100% Leased Office Building Memphis, TN 38117 $950,000 ($159.45/SF) 10.15% Cap Rate
Investment Highlights
- Established leases in place with healthy returns from day one
- Professionally maintained asset with minimal day-to-day oversight required
- East Memphis continues to see strong demand for office and commercial space due to its central location, professional demographics, and access t
- Multi-tenant structure reduces vacancy risk and increases long-term financial resilience
- Future upside through rent escalations, lease renewals, or targeted property enhancements
Executive Summary
Colliers is pleased to bring to market 668 Colonial Road, Memphis, TN 38117, a 5,958 sf single story office building. Positioned in the heart of East Memphis, 668 Colonial Road is fully leased, with three-tenants offering a turn key investment with stable income, minimal management needs, and long-term upside.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
5,958 SF
Building Class
C
Year Built
1985
Price
$950,000
Price Per SF
$159.45
Cap Rate
10.15%
NOI
$96,470
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
5,958 SF
Building FAR
0.26
Lot Size
0.53 AC
Zoning
OG - Commercial
Parking
10 Spaces (1.68 Spaces per 1,000 SF Leased)
1 1
Walk Score®
Very Walkable (76)
Property Taxes
| Parcel Number | 06-5037-0-0022 | Improvements Assessment | $180,640 |
| Land Assessment | $84,960 | Total Assessment | $265,600 |
Property Taxes
Parcel Number
06-5037-0-0022
Land Assessment
$84,960
Improvements Assessment
$180,640
Total Assessment
$265,600
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668 Colonial Rd
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