1840 Pyramid PlMemphis, TN 38132

Property Details for 1840 Pyramid Pl

Year built

2005

Lot size

1.95 AC

Property size (Sq ft)

132,244 SF

Zone code

EMP

Property type

Office properties

Property subtype

Office buildings

APN

060-222- -A-00004-C

APU

060222A00004C

Description

This exceptional Class A office property, 1840 Pyramid Place, offers 130,399 square feet of versatile space in Memphis, TN. Built in 2004, this six-story building boasts 59 suites, ranging from a minimum of 100 square feet to a maximum contiguous space of 49,228 square feet, making it ideal for a variety of businesses. The property is currently fully vacant and presents a unique opportunity. Located in the Airport submarket within Memphis' Nonconnah Business Park, it benefits from excellent access to major transportation arteries including I-240, I-40, I-55, and I-69, as well as proximity to Memphis International Airport. Amenities include 1,063 parking spaces in a secured and gated deck (5.28/1000 parking ratio), elevators, two truck loading pads, and a comprehensive suite of on-site support facilities. These include an advanced manufacturing technology/testing center, IT service center, maintenance shop, a 9,040 square foot cafeteria, an auditorium, and a concept machine shop. A 300kW diesel generator provides redundant power to key areas, including emergency lighting, elevators, and data centers. This property is situated in an opportunity zone, offering additional investment advantages.

• CAP approach

  CAP return

  Valuation

  6%

  $19,054,264

  6.5%

  $17,588,552

  7%

  $16,332,227

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,309,742

  Geo Method

  $10,309,742

• Alternative Use

  Use

  Valuation

  Residential

  $21,809,804

  Hospitality

  $19,977,664

  Educational

  $16,621,181

  Medical

  $17,192,810

  Retail

  $25,855,170

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0735

Longitude

-90.002

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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