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3900 New Covington Pike

Memphis, TN 38128
  • $850,000
  • STATUS: Active
  • ON SITE: 29 Days
  • MLS #: 10171296
UPDATED: 183 min ago
$850,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1985
County:

School Ratings & Info

Description

Fantastic investment opportunity to own an office building in Memphis next to Methodist Hospital North. Almost 25,000 sqft of rental space with a annual rental income of approximately $174,000. Well maintained office building with 14 tenants under lease. Offices are single story with outside entrances. Originally setup as a medical building. There are second floor units. Roof is 3 years old. Good parking.

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© 2024 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Gowen Property Group | Keller Williams Realty. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2024-05-30T00:03:22.143.
www.gowenpropertygroup.com/homes/150049928
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3900 New Covington Pike Memphis, TN 38128

  • Price: $850,000
  • Status: Active
  • On Site: 29 Days
  • Updated: 183 min ago
  • MLS #: 10171296
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1985
Built
Neighborhood:
Stonehenge Office Park
County:
Shelby
Area:
Raleigh - Southeast
Property Description
Fantastic investment opportunity to own an office building in Memphis next to Methodist Hospital North. Almost 25,000 sqft of rental space with a annual rental income of approximately $174,000. Well maintained office building with 14 tenants under lease. Offices are single story with outside entrances. Originally setup as a medical building. There are second floor units. Roof is 3 years old. Good parking.
Exterior Features

Buildings 1 Land Sq Ft 74433 Location CityFree StandingOffice Park Lot Size 1.752 AC 179.8 X 285.0 IRR Parking Facility 31-75 SpacesAsphalt/Blacktop Road Frontage City Street Road Frontage Feet 162 Roof Composition Shingles Truck Loading Door Height No Truck Door

Interior Features

Average Ceiling Height 8-10.9 Feet Cooling System Central CoolingIndividual Cooling Floors Partial Carpet Foundation Slab Heating System CentralIndividual Systems Hot Water Public SewerPublic Water Leaseable Sq Ft 24860 Offices 18 Restrooms 18 Seating Capacity 1-10

Property Features

Actual Annual Rent 144000 Annual City Tax 8338 Annual County Tax 10566 Annual Insurance Expenses 6800 Annual Misc Income 1890 Annual Operating Expenses 55000 Average Annual Utilities 2500 Commercial Type Office Contingency Type No Contingency Existing Financing Clear Information Available Rent RollTax Info Available Legal Subdivision Name STONEHENGE OFFICE PARK Lot Number 1-ATHURC Miscellaneous Compressor(s)FixturesSecurity System New Financing Conventional Operating Expense Includes Property InsuranceRepair & MaintenanceTaxes/Real Estate Percent Occupancy 78 Possession Lease Tenants Rights Sale Includes Building and Land Tenant Pays All Utilities Trade Business Name Arbor Square Office Type Usage Office Condo Zoning Comm

Listing information © 2024 Memphis Area Association of REALTORS®.
Listing provided courtesy of McWaters & Associates: 901-372-6611.



© 2024 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Gowen Property Group | Keller Williams Realty. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2024-05-30T00:03:22.143.
 
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Gowen Property Group | Keller Williams Realty
5847 Getwell Rd, Bldg B1
Southhaven MS, 38672