$2,119,000 USD
737-205-2056
1188 Minna Pl
Memphis, TN 38104
Midtown Memphis
HIGHLIGHTS
- 100% occupied by Shelby County Government (Shelby County Community Services).
- The tenant just renewed the lease for an additional 5 years (firm), demonstrating their commitment to the site.
- The lease offers 2% annual escalations, offering a strong hedge against inflation.
- The site includes the parking lot on South of Minna Pl, a generous parking ratio of 5.8 stalls per 1000 SF.
- New roof was installed in 2020 with a 10-year warranty.
- Shelby County guarantees the lease and has an investment-grade credit rating of AA+ (S&P).
OVERVIEW
Sands Investment Group is pleased to exclusively offer for sale the 13,456 SF Shelby County Community Services facility, located at 1188 Minna Pl in Memphis, TN. The property is 100% occupied by the Shelby County Government (Shelby County Community Services) under a lease backed by a full county guarantee. The lease provides 2% annual rent escalations, delivering a reliable income stream and a strong hedge against inflation.
In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394
FOR SALE DETAILS
PRICE
$2,119,000 USD
PRICE/SF
$157 USD /SF
CAP RATE
9.5%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Shelby County Community Services - Memphis
PROPERTY TYPE
Office
PROPERTY SUBTYPE
Office/Residential
ADD'L SUBTYPES
Storefront Retail/Office
TOTAL BUILDING SIZE
-
STORIES
4
BUILDING CLASS
C
YEAR BUILT
1969
SPRINKLERS
-
PARKING SPACES
50
LAND DETAILS
LAND ACRES
0.51 AC
LAND SF
22,216 SF
ZONING
CH
APN/PARCEL ID
03-2035-0-0007
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
737-205-2056
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
Please correct the highlighted field(s).
737-205-2056
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
