HIGHLIGHTS
- 4.5 years remaining on the lease term with 3% escalations, offering a hedge against inflation.
- Tenant has substantial costs in their buildout for the space.
- Triple Net (NNN) Lease provides the landlord with passive income and zero landlord responsibilities backed by a 12-unit operator.
- Area retailers include Walgreens, Dollar General, Pizza Hut, AutoZone, Tops BBQ, newly constructed Starbucks, Chick-fil-A, and Chipotle.
- Strong traffic counts of over 26,000 VPD.
- 2.2 miles north of University of Memphis.
OVERVIEW
Sands Investment Group is Pleased to Offer For Sale Mental Health Cooperative Located at 3430 Summer Avenue, a Stand-Alone Medical Building Located in East Memphis on a High Traffic Road (27,207 AADT). The Building Contains 8,567 SF of Medical Office Space Occupied By Mental Health Cooperative. The Company Reported a Gross Revenue of $64,841,419 in 2020 and is Continuing Its Expansion. There Are 13 Locations Across Tennessee With Their Headquarters Residing in Nashville.
In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394
FOR SALE DETAILS
PRICE
$1,812,000 USD
PRICE/SF
$207 USD /SF
CAP RATE
8%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Mental Health Cooperative - Memphis, TN
PROPERTY TYPE
Office
PROPERTY SUBTYPE
Medical
ADD'L SUBTYPES
Drug Store, Loft/Creative Space, Office/Residential
TOTAL BUILDING SIZE
-
STORIES
1
BUILDING CLASS
C
YEAR BUILT
1968
SPRINKLERS
-
PARKING SPACES
35
LAND DETAILS
LAND ACRES
0.85 AC
LAND SF
37,026 SF
ZONING
CMU-3
APN/PARCEL ID
03-8037-0-0025C
ASK ABOUT THIS PROPERTY
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737-205-2056
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737-205-2056
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