INVESTMENT OVERVIEW:
Sale Price: $12,522,284
CAP Rate: 7.40%
Net Operating Income: $926,649
Building Size: 106,495 SF
Market: Memphis
Lease Type: Net
Type of Ownership: Fee Simple
INVESTMENT HIGHLIGHTS:
- Heavily Trafficked Location
- High Income Demographics
- Minimal Landlord Obligations
- New Construction
- Scheduled Increases
- Strong Tenant Mix
- Trophy Location
PROPERTY INFORMATION:
The subject investment is part of a 125,000 SF power in the Memphis, Tennessee MSA. The Millington trade area is home to over 102,000 people with a median income level of $52,000. Parcel contains a total of 107,264 SF of gross leasable area. The parcel is leased to major national retailers including Ross, Dunham’s Rue21, Burke’s Outlet, Petco, Five Below, and Rack Room Shoes. The asset is well situated on a major commercial thoroughfare, with strong traffic counts that exceed 30,000 vehicles per day on US Highway 51.
LOCATION INFORMATION:
Millington is a city in Shelby County, Tennessee, United States. As of the 2010 census, it had a population of 10,176. Millington is the home of the Memphis International Raceway.
| Price: | $12,522,284 |
| City: | Millington |
| State: | TN |
| Zip Code: | 38053 |
| Year Built: | 2017 |
