1810 New Getwell RdMemphis, TN 38111

Property Details for 1810 New Getwell Rd

Year built

1973

Lot size

6.37 AC

Property size (Sq ft)

47,070 SF

Property type

Industrial properties

Property subtype

Other warehouses

Description

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.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0816

Longitude

-89.9293

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