943 Whitney Ave | Memphis, TN 38127
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943 Whitney Ave
Memphis, TN 38127
Frayser Medical Center | Memphis | 7.25% Cap · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Medical Office Building – Healthcare tenants are highly desirable for investors due to their ability to withstand economic downturns and eCommerce
- Attractive Return – This opportunity features an average cap rate of 7.82% over the initial 7-year term and 2.5% annual rental increases
- Proximity to Shopping Center – The clinic is strategically located next to the Northgate Shopping Center, which boasts a variety of national retail
- Passive Lease Structure – This investment includes limited landlord responsibilities that include only the replacement of the roof
- Dense Demographics- With over 100,000 residents within a 5-mile radius, this property’s ideal location is just north of Memphis
- Highly Visible – The subject property is located just off Thomas St which sees over 30,000 VPD, a main thoroughfare that runs through the Memphis MSA.
PROPERTY FACTS
Property Type
Office
Property Subtype
Medical
Building Size
3,574 SF
Building Class
B
Year Built
2008
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,502 SF
Building FAR
0.03
Lot Size
2.70 AC
Zoning
CH - Commercial
Parking
40 Spaces (10 Spaces per 1,000 SF Leased)
AMENITIES
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 06-9025-0-0024 | Improvements Assessment | $303,880 |
| Land Assessment | $89,880 | Total Assessment | $393,760 |
PROPERTY TAXES
Parcel Number
06-9025-0-0024
Land Assessment
$89,880
Improvements Assessment
$303,880
Total Assessment
$393,760
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