89 Highway 72 W - Freestanding FOR SALE


Collierville, TN 38017
$1,800,000 USD
901-853-0763
89 Highway 72 W, Collierville, TN for Sale
$1,800,000 USD
Freestanding - FOR SALE
1/4
null | 8.89% Cap Rate

89 Highway 72 W
Collierville, TN 38017


OVERVIEW

This income property includes multiple fully leased mixed use buildings. Tenants include the only laundromat in Collierville, plus other retail and office uses. One building contains multiple small commercial bays with an office and open warehouse/shop with grade level door very suitable for small business users. Originally built in 1967, the property has undergone multiple renovations and improvements. The most recent improvement was new roofs and painting of certain of the buildings in 2025. The property has 14 individual tenants producing Gross Rents of $217,000. Net Operating Income of $160,000 produces an 8.89% cap rate on the $1,800,000 asking price. The majority of the tenants are on 1-3 year leases allowing for significant flexibility to improve lease rates. At the same time, the majority of the tenants have been tenants for several years.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$1,196 USD /SF

CAP RATE

8.89%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

89-121 Highway 72 W Buildings

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

2.79 AC

LAND SF

121,532 SF

ZONING

GC

APN/PARCEL ID

C0-258-0-0012C

ASK ABOUT THIS PROPERTY

Jim GannawayJohn Green & Company RealtorsMore Info
901-853-0763

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Jim GannawayJohn Green & Company RealtorsMore Info
901-853-0763

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