5737 Nanjack CirMemphis, TN 38115

Property Details for 5737 Nanjack Cir

Year built

1986

Lot size

0.06 AC

Property size (Sq ft)

928 SF

Zone code

RU-3

Property type

Office properties

APN

074-090- -K-00004

APU

074090K00004

Description

This exceptional investment opportunity presents a fully occupied, six-unit office/medical building in Memphis, TN. Located in the desirable Mount Moriah Office Park, this Class B property boasts a total of approximately 912-960 square feet per suite, totaling approximately 5,472-5,760 square feet. The building, constructed in 1986 and extensively renovated in 2022, offers a mix of executive office and medical office spaces, currently leased to six separate tenants under modified leases with a remaining term of approximately 0.9 years, expiring September 30, 2025. The property enjoys 100% occupancy as of July 31, 2024, generating a substantial net operating income (NOI) of $90,963. Each suite features individual HVAC systems with varying ages (condensers ranging from 2 to 17 years, water heaters from 11 to 14 years, and furnaces from 8 to 36 years). Twelve parking spaces are available. The property is offered for sale by owner and presents a compelling 18% cap rate. Individual suite offers may be considered. Property taxes vary per suite, ranging from approximately $835 to $879 annually. Tenants are responsible for their own utilities. There are no rent bumps or ground lease. This is a turnkey investment ideal for a diverse range of buyers seeking a stable, high-performing asset in a prime Memphis location. The address is 5739 Nanjack Circle, Memphis, TN 38115.

• CAP approach

  CAP return

  Valuation

  6%

  $133,710

  6.5%

  $123,425

  7%

  $114,609

• Comparable approach

  Method

  Valuation

  Relative Method

  $72,347

  Geo Method

  $72,347

• Alternative Use

  Use

  Valuation

  Residential

  $153,047

  Hospitality

  $140,190

  Educational

  $116,636

  Medical

  $120,648

  Retail

  $181,434

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0731

Longitude

-89.8716

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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