5406 Knight Arnold RdMemphis, TN 38115

Property Details for 5406 Knight Arnold Rd

Year built

1988

Lot size

0.71 AC

Property size (Sq ft)

6,609 SF

Zone code

R-6

Property type

Healthcare properties

Property subtype

Medical offices

APN

074-074- - -00035

APU

7407400035

Description

Colony Square, located at 5406 Knight Arnold Rd in Memphis, Tennessee (zip code 38115), presents a prime retail and medical investment opportunity. This 0.706-acre property encompasses a 12,042 square foot retail center featuring multiple tenancy options. Currently, there are 8,640 square feet of vacant space available, offering flexibility for various business needs. Individual spaces range from a minimum of 2,160 square feet to a maximum contiguous space of 6,480 square feet. The property's location in Shelby County ensures high visibility and accessibility for potential tenants. A significant portion of the property, a 6,480 square foot freestanding building, is available for sale or lease, making it ideal for medical practices or other businesses requiring larger spaces. This versatile property is well-suited for a variety of commercial uses, offering a compelling opportunity for investors and businesses seeking a prominent location in a thriving Memphis market. The property's size and layout provide ample space for expansion or adaptation to suit specific business requirements. Interested parties are encouraged to explore the potential of this exceptional commercial property.

• CAP approach

  CAP return

  Valuation

  6%

  $952,252

  6.5%

  $879,002

  7%

  $816,216

• Comparable approach

  Method

  Valuation

  Relative Method

  $515,238

  Geo Method

  $515,238

• Alternative Use

  Use

  Valuation

  Residential

  $1,089,962

  Hospitality

  $998,400

  Educational

  $830,657

  Medical

  $859,224

  Retail

  $1,292,133

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0623

Longitude

-89.8831

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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