5737 Nanjack CirMemphis, TN 38115

For Sale
Call for price
Six Suites, 100% Occupied, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
125
This exceptional investment opportunity presents a fully occupied, six-unit office/medical building in Memphis, TN. Located in the desirable Mount Moriah Office Park, this Class B property boasts a total of approximately 912-960 square feet per suite, totaling approximately 5,472-5,760 square feet. The building, constructed in 1986 and extensively renovated in 2022, offers a mix of executive office and medical office spaces, currently leased to six separate tenants under modified leases with a remaining term of approximately 0.9 years, expiring September 30, 2025. The property enjoys 100% occupancy as of July 31, 2024, generating a substantial net operating income (NOI) of $90,963. Each suite features individual HVAC systems with varying ages (condensers ranging from 2 to 17 years, water heaters from 11 to 14 years, and furnaces from 8 to 36 years). Twelve parking spaces are available. The property is offered for sale by owner and presents a compelling 18% cap rate. Individual suite offers may be considered. Property taxes vary per suite, ranging from approximately $835 to $879 annually. Tenants are responsible for their own utilities. There are no rent bumps or ground lease. This is a turnkey investment ideal for a diverse range of buyers seeking a stable, high-performing asset in a prime Memphis location. The address is 5739 Nanjack Circle, Memphis, TN 38115.

Highlights

  • 5737 (928 sqft): $80,736 estimated value ($94/sqft), leased to Tasha Badger Tax Services at $1650/month, tenant pays utilities, annual taxes $850.39. HVAC systems: condenser (15 years), water heater (14 years), furnace (8 years).
  • 5739 (960 sqft): $83,520 estimated value ($94/sqft), leased to Majestic Parlor at $1550/month, tenant pays utilities, annual taxes $879.63. HVAC systems: condenser (2 years), water heater (12 years), furnace (23 years).
  • 5741 (960 sqft): $83,520 estimated value ($94/sqft), leased to Tasha Badger Tax Services at $1650/month, tenant pays utilities, annual taxes $879.63. HVAC systems: condenser (11 years), water heater (11 years), furnace (36 years).
  • 5743 (912 sqft): $79,344 estimated value ($94/sqft), leased to Marzel Barbershop at $1500/month, tenant pays utilities, annual taxes $835.77. HVAC systems: condenser (10 years), water heater (14 years), furnace (36 years).
  • 5745 (960 sqft): $83,520 estimated value ($94/sqft), leased to Tasha Badger Salon at $1650/month, tenant pays utilities, annual taxes $879.63. HVAC systems: condenser (15 years), water heater (11 years), furnace (8 years).
  • 5750 (1080 sqft): $93,960 estimated value ($94/sqft), leased to Zaria Woolridge at $1650/month, tenant pays utilities. HVAC systems: condenser (17 years), water heater (11 years), furnace (16 years). Taxes unavailable.

Property Details for 5737 Nanjack Cir

Property type
Office properties, Medical offices
Square Feet
912 SF
Class
B
Year Built/Renovated
1986/2022

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.0730754
Longitude
-89.8716391
5737 Nanjack Cir, Memphis, Tennessee

FAQs

What type of property is this?
Office property - Six Suites, 100% Occupied, High NOI
Where is the office property located?
The property is located at 5737 Nanjack Cir Memphis, TN.
What are key features of this property?
This property features: 5737 (928 sqft): $80,736 estimated value ($94/sqft), leased to Tasha Badger Tax Services at $1650/month, tenant pays utilities, annual taxes $850.39. HVAC systems: condenser (15 years), water heater (14 years), furnace (8 years).; 5739 (960 sqft): $83,520 estimated value ($94/sqft), leased to Majestic Parlor at $1550/month, tenant pays utilities, annual taxes $879.63. HVAC systems: condenser (2 years), water heater (12 years), furnace (23 years).; 5741 (960 sqft): $83,520 estimated value ($94/sqft), leased to Tasha Badger Tax Services at $1650/month, tenant pays utilities, annual taxes $879.63. HVAC systems: condenser (11 years), water heater (11 years), furnace (36 years).
How can I contact the broker?
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5737 Nanjack Cir
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