309 Monroe Ave - Office FOR SALE


Memphis, TN 38103- Downtown Memphis
$5,535,000 USD
859-907-2006
309 Monroe Ave, Memphis, TN for Sale
$5,535,000 USD
Office - FOR SALE
1/3
null | 8% Cap Rate

309 Monroe Ave
Memphis, TN 38103
Downtown Memphis


HIGHLIGHTS

  • New Succeeding 10-Year Lease (5-Firm / Non-Cancellable)
  • Level II Security Facility Constructed to Meet GSA’s Rigorous Design Specifications
  • Uniquely Positioned in Downtown Memphis Surrounding a Significant Development Boom
  • 2008 Renovate-to-Suit, Taken to the Studs with a Complete Retrofit
  • Per 2020 Census, the Memphis MSA Population Boasts over 633,000 Residents
  • Moody’s AAA Rated Credit Tenant

OVERVIEW

The Ficke Team of Colliers has been selected to exclusively market for sale the Social Security Administration (SSA) Office of Hearings Operations (OHO) Field Office in downtown Memphis, Tennessee. This unique judicial court and specialized office building was built to meet the extensive design specifications of the General Services Administration (GSA). GSA recently extended a 10-year succeeding lease extension with the first 5-years firm and non-cancellable. The lease is backed by the full faith of the U.S. federal government, which maintains a AAA credit rating through Moody’s. Memphis is a city in the U.S. state of Tennessee. It is the seat of Shelby County, in the southwestern most part of the state, and is situated along the Mississippi River. With a population of 633,104 at the 2020 U.S. census, Memphis is the second-most populous city in Tennessee after Nashville. Memphis is the fifth-most populous city in the Southeast, the nation’s 28th-most populous overall, as well as the largest city bordering the Mississippi River and third largest metropolitan statistical area behind Greater St. Louis and the Twin Cities on the Mississippi River. The city is home to a major professional sports team, the Grizzlies of the NBA and the Memphis Showboats of the USFL. Other attractions include Graceland, the Memphis Pyramid, Sun Studio, the Blues Hall of Fame and Stax Museum of American Soul Music. Memphis-style barbecue has achieved international prominence, and the city hosts the annual World Championship Barbecue Cooking Contest, which attracts more than 100,000 visitors each year. Higher-level educational institutions include the University of Memphis, Christian Brothers University and Rhodes College

FOR SALE DETAILS

PRICE

$5,535,000 USD

PRICE/SF

$244 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

SSA, Office of Disability

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1940

SPRINKLERS

-

PARKING SPACES

113

LAND DETAILS

LAND ACRES

1.56 AC

LAND SF

67,954 SF

ZONING

CBD

APN/PARCEL ID

00-5002-0-0005C

ASK ABOUT THIS PROPERTY

Geoff FickeColliersMore Info
859-907-2006

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Geoff FickeColliersMore Info
859-907-2006

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.