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7101 Goodlett Farms Pky 89,715 SF Flex Building Cordova, TN 38016 $15,250,000 ($169.98/SF) 8.70% Cap Rate
Investment Highlights
- $9.1 Million of Recent Capital Investment, including more than $6 million contributed directly by Bioventus
- Highly Functional Distribution / R&D / Light Manufacturing Configuration supporting Bioventus’ integrated operations
- Secure, Stable Cash Flow with an Above-Market Going-In Yield
- FDA-Registered, Mission-Critical Facility with specialized improvements that are costly and difficult to replicate
- Leading Orthobiologics Platform with $568 million in annual revenue in FY 25
Executive Summary
7101 Goodlett Farms Parkway is an 89,715-square-foot flex facility featuring a mix of R&D, office, light assembly, and distribution occupied by Bioventus (NASDAQ: BVS). Situated on 10.1 acres within the established Goodlett Farms Business Park in Cordova, Tennessee, the property was originally constructed in 1997 and extensively renovated in 2023 to support Bioventus’ Memphis expansion. As part of the buildout, Bioventus invested approximately $6.1 million of its own capital toward the facility’s $9.1 million renovation, demonstrating a significant long-term commitment to the property and its operations.
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Property Facts
| Price | $15,250,000 | Lot Size | 8.84 AC |
| Price Per SF | $169.98 | Rentable Building Area | 89,715 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 8.70% | Year Built/Renovated | 1997/2023 |
| Property Type | Flex | Tenancy | Single |
| Property Subtype | Light Distribution | Parking Ratio | 1.62/1,000 SF |
| Building Class | A | No. Dock-High Doors/Loading | 2 |
| Zoning | R-6 | ||
| Price | $15,250,000 |
| Price Per SF | $169.98 |
| Sale Type | Investment |
| Cap Rate | 8.70% |
| Property Type | Flex |
| Property Subtype | Light Distribution |
| Building Class | A |
| Lot Size | 8.84 AC |
| Rentable Building Area | 89,715 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1997/2023 |
| Tenancy | Single |
| Parking Ratio | 1.62/1,000 SF |
| No. Dock-High Doors/Loading | 2 |
| Zoning | R-6 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,404,440 | |
| Land Assessment | $527,360 | Total Assessment | $1,931,800 |
Property Taxes
Parcel Numbers
Land Assessment
$527,360
Improvements Assessment
$1,404,440
Total Assessment
$1,931,800
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