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756-765 Ridge Lake Blvd
Memphis, TN 38120
Ridgeway Center · Office Property For Sale


EXECUTIVE SUMMARY
Vacant units in the building can be leased! This location is ready for a new owner and plenty of space for owner occupant! I am pleased to offer this amazing 35,508 square foot Professional Office Property! Located with in the Heart of East Memphis, in a dense Office/residential corridor with a strong mix of recession proof tenants providing for you a secure investment. Offering a quiet office setting, which includes a landscaped interior courtyard and "A" finishes. Renovations in Lobby and common area. The building exterior just went through a major renovation with new exterior painting of the brick, parking lot, and updated landscaping. High ceilings, 9'-10' throughout, and elevator. Priced below replacement value, Tennessee is an income tax free state, Memphis is the second most Populous City in Tennessee with about 630,000 residents, vehicle count for Ridge Lake Boulevard is approx. 145,000 vehicles per day, Excellent demographics, with a population of over 200,000. With nearby tenants include: Target, PetSmart, Best Buy, Marriott, Hilton, Embassy Suites, Hampton Inn & Suites, REI, Staybridge Suites, Courtyard by Marriott, Hyatt Place, La Quinta Inn & Suites and many more. There are vacant units ready for owner occupancy.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Medical
Building Size
35,508 SF
Building Class
B
Year Built
1986
Price
$6,650,000
Price Per SF
$187.28
Cap Rate
5.32%
NOI
$353,910
Percent Leased
1%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
17,754 SF
Slab To Slab
12’
Building FAR
0.38
Lot Size
2.12 AC
Zoning
C office - 2 story Class B++
Parking
81 Spaces (2.28 Spaces per 1,000 SF Leased)
AMENITIES
- Courtyard
PROPERTY TAXES
| Parcel Number | 08-0023-D0-0004 | Improvements Assessment | $1,427,600 |
| Land Assessment | $730,680 | Total Assessment | $2,158,280 |
PROPERTY TAXES
Parcel Number
08-0023-D0-0004
Land Assessment
$730,680
Improvements Assessment
$1,427,600
Total Assessment
$2,158,280
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