948 Reddoch CvMemphis, TN 38119

Property Details for 948 Reddoch Cv

Year built

1954

Lot size

0.27 AC

Property size (Sq ft)

2,149 SF

Zone code

CMU-1

Property type

Office properties

Property subtype

Office buildings

APN

056-038- - -00007

APU

5603800007

Description

This exceptional 2,149 square foot Class B executive office building, constructed in 1954, sits on a 0.274-acre lot in the heart of East Memphis, Tennessee (APN: 056038 00007). Located just off Poplar Avenue, it benefits from high visibility and significant traffic (38,809 AADT). The property boasts a strong net operating income (NOI) of $41,803.19. Currently, the building is occupied by Brent Taylor and Paul McCarver Funeral Directors under a lease expiring April 30, 2025 (lease term: 61.5 months, start date: March 15, 2020). Additionally, parking spaces are leased to Sunrise Memphis under a separate 120-month lease (start date: December 19, 2022, end date: December 19, 2032). The surrounding area features a high concentration of retail establishments, including well-known national and local brands such as Office Depot, Domino's Pizza, The Fresh Market, and many more, indicating a strong and vibrant commercial environment. The 1-mile household median income of $108,893 further underscores the desirability of this location. This property presents a compelling investment opportunity in a thriving East Memphis market.

• CAP approach

  CAP return

  Valuation

  6%

  $309,637

  6.5%

  $285,819

  7%

  $265,403

• Comparable approach

  Method

  Valuation

  Relative Method

  $167,536

  Geo Method

  $167,536

• Alternative Use

  Use

  Valuation

  Residential

  $354,415

  Hospitality

  $324,642

  Educational

  $270,099

  Medical

  $279,388

  Retail

  $420,153

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1057

Longitude

-89.8797

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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