For Sale
$1,505,000

1532 Bonnie LnMemphis, TN 38016

High-yield auto shop, 8% cap rate, 9,500 SF.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 9,500-square-foot auto shop and storefront located at 1532 Bonnie Ln, Memphis, TN 38016. Built in 2021, the property sits on a 1.6-acre lot and boasts 100% occupancy with a strong, corporately guaranteed lease featuring annual rental escalations and a significant term remaining. The lease includes a collision right with a 2% annual increase, currently at 8 years remaining. The property operates under a modified NNN lease structure, minimizing landlord responsibilities to roof, structure, and HVAC. The property's strong financial performance is reflected in its $120,360 net operating income (NOI) and an asking price of $1,505,000, resulting in an attractive 8.00% capitalization rate. The location benefits from high traffic counts on Germantown Pkwy (44,752 vehicles daily) and convenient access via a lighted intersection with Bonnie Ln. Furthermore, the property enjoys a strong demographic presence, situated near a substantial retail corridor with over 500,000 square feet of retail space and a large population within a 3-mile (61,225) and 5-mile (146,261) radius. This turnkey investment offers a compelling combination of strong cash flow, a desirable location, and a secure lease structure.

Highlights

  • Strong demographics: 61,225 residents within 3 miles, 146,261 within 5 miles.
  • High traffic counts on Germantown Pkwy (44,752 vehicles).
  • Excellent visibility and access at the lighted intersection of Germantown Pkwy and Bonnie Ln.
  • Proximity to over 500,000 square feet of retail space.

Property Details for 1532 Bonnie Ln

Property type
Retail properties, Retail space
Square Feet
9,500 SF
Year Built
2021
Lot Size (sq. ft)
69,696 SF

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.168237427033
Longitude
-89.792000715183
1532 Bonnie Ln, Memphis, Tennessee

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1532 Bonnie Ln
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