1605 Getwell RdMemphis, TN 38111

Property Details for 1605 Getwell Rd

Year built

1947

Lot size

0.70 AC

Property size (Sq ft)

7,120 SF

Zone code

CMU-1

Property type

Retail properties

Property subtype

Strip malls

APN

058-082- - -00006-C

APU

05808200006C

Description

This exceptional investment opportunity presents a 7,120-square-foot shopping center located at 1605-1609 Getwell Rd, Memphis, TN 38111. The property boasts 100% occupancy with a stable, long-term tenant, generating a strong net operating income (NOI) of $57,811 and a compelling 9.25% capitalization rate. Built in 1947, this single-story, 7,120 square-foot building sits on a 0.702-acre lot and is zoned for commercial use. The asking price is $625,000, translating to a price per square foot of $87.78. This stabilized investment offers a secure and profitable return for discerning investors seeking a well-performing retail asset in a desirable Memphis location. The property's strong performance and consistent cash flow make it an attractive addition to any portfolio. The single-tenant occupancy simplifies management and minimizes vacancy risk. This is a rare opportunity to acquire a fully leased, high-performing retail property in a prime Memphis location. The property's solid financials and stable tenant base make it an ideal investment for those seeking long-term growth and passive income. The 0.702-acre lot provides ample space for potential future expansion or redevelopment. This is a turnkey investment ready to generate immediate returns.

• CAP approach

  CAP return

  Valuation

  6%

  $1,508,042

  6.5%

  $1,392,039

  7%

  $1,292,608

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,398,790

  Geo Method

  $1,398,790

• Alternative Use

  Use

  Valuation

  Residential

  $1,174,237

  Hospitality

  $1,075,595

  Educational

  $894,882

  Medical

  $925,659

  Retail

  $1,392,039

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0879

Longitude

-89.9316

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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