114 Tillman StMemphis, TN 38111

This exceptional mixed-use property, located at 114 & 118 Tillman St in Memphis, Tennessee, presents a compelling investment opportunity. The property consists of two buildings totaling 1,650 to 3,000 square feet on a 0.75-acre lot, zoned CMU-1 (Commercial Mixed Use-1). Built in 2002 and extensively renovated in 2021, the buildings are in excellent condition. The property boasts a strong Net Operating Income (NOI) of $72,271, yielding an attractive 11.95% cap rate. The asking price is $605,000, translating to a land value of $101 per square foot. The property features a 100% ownership structure and was fully occupied as of May 17, 2022. This owner/user investment is ideal for those seeking a stable, high-return asset in a desirable Midtown Memphis location. The property's location offers excellent visibility and access to significant traffic. The buildings are single-story structures. This is a rare opportunity to acquire a well-maintained, high-performing mixed-use property in a thriving Memphis neighborhood.