1900 Kirby PkwyGermantown, TN 38138

Property Details for 1900 Kirby Pkwy

Year built

1973

Construction

FRAME

Lot size

0.04 AC

Property size (Sq ft)

394 SF

Zone code

O

Property type

Office properties

Property subtype

Other office properties

APN

G02-19C- -A-00020

APU

G0219CA00020

Description

This 1,188 square foot Class C medical office building, located at 1900 Kirby Pkwy in Germantown, Tennessee (zip code 38138), is a fantastic investment opportunity. Built in 1973 and extensively renovated in 2022, this single-unit property features four exam rooms, two private offices, a spacious waiting area, a receptionist desk, and a nurses' station. Recent upgrades include energy-efficient LED lighting, durable luxury vinyl plank (LPV) flooring, modern countertops, fresh paint, updated door knobs, and a remodeled bathroom. The property sits on a two-story building and is zoned for Commercial - Medical Office use. Its convenient location offers excellent accessibility, being near Methodist Germantown Hospital and St. Francis Hospital. Furthermore, its proximity to the redeveloped Carafour retail center provides significant added value and potential for increased patient traffic. The asking price is $174,000, translating to $146.46 per square foot. The net rentable area is 1,188 square feet. This turnkey operation presents a rare opportunity to acquire a well-maintained and updated medical office building in a prime Germantown location.

• CAP approach

  CAP return

  Valuation

  6%

  $56,769

  6.5%

  $52,402

  7%

  $48,659

• Comparable approach

  Method

  Valuation

  Relative Method

  $30,716

  Geo Method

  $30,716

• Alternative Use

  Use

  Valuation

  Residential

  $64,979

  Hospitality

  $59,520

  Educational

  $49,520

  Medical

  $51,223

  Retail

  $77,031

Location Insight

City

Germantown

County

Shelby

State

Tennessee

Latitude

35.0971

Longitude

-89.839

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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