For Sale
$5,600,000

1810 New Getwell Rd Memphis, TN 38111

47,070 SF, 6.42% Cap Rate, Strong Tenant

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional investment opportunity presents a stabilized, single-tenant industrial property located at 1810 New Getwell Rd, Memphis, TN 38111. The 47,070-square-foot building, situated on a 6.37-acre lot, is currently 100% occupied by Beacon Roofing Supply, a Fortune 500 company with over $9 billion in 2023 revenue. The property boasts a Class C rating and features a Net Net + (NN+) lease structure with a remaining lease term of 6.9 years, expiring October 31, 2031. The lease commenced November 1, 2021, and includes 1.5% annual rent bumps and two seven-year option periods, providing a hedge against inflation. The asking price is $5,600,000, representing a compelling cap rate of 6.42% with a current NOI of $359,429. The property underwent renovations in 2021, including a new roof, demonstrating the tenant's long-term commitment. Its strategic location, six miles from Memphis International Airport and thirteen miles from downtown Memphis, within a dense population area with high average household income, further enhances its value. This is a mission-critical location for Beacon Roofing Supply, being the only one within an 85+ mile radius. The property's subtypes include distribution, flex, and warehouse, making it a versatile and attractive investment. Built in 1973, this property offers a strong return on investment with a stable, high-credit tenant and significant growth potential.

Highlights

  • Investment-grade, single-tenant industrial property occupied by Fortune 500 company Beacon Roofing Supply.
  • Beacon Roofing Supply, ranked #449 on the Fortune 500, boasts over $9 billion in 2023 revenue.
  • Strong growth outlook with year-over-year net sales growth for the past 12 quarters.
  • Excellent location: 6 miles from Memphis International Airport and 13 miles from downtown Memphis.
  • Inflation-protected investment with 1.5% annual rent increases and two seven-year option periods.
  • Mission-critical location for Beacon, the only one within an 85+ mile radius.

Property Details for 1810 New Getwell Rd

Property type
Warehouses, Industrial properties
Square Feet
47,070 SF
Class
C
Year Built/Renovated
1973/2021
Lot Size (sq. ft)
277,477 SF

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.08160664607
Longitude
-89.929299434871

FAQs

What type of property is this?
Warehouse - 47,070 SF, 6.42% Cap Rate, Strong Tenant
Where is the warehouse located?
The property is located at 1810 New Getwell Rd Memphis, TN.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: Investment-grade, single-tenant industrial property occupied by Fortune 500 company Beacon Roofing Supply.; Beacon Roofing Supply, ranked #449 on the Fortune 500, boasts over $9 billion in 2023 revenue.; Strong growth outlook with year-over-year net sales growth for the past 12 quarters.
How can I contact the broker?
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1810 New Getwell Rd
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