1562 Two PlMemphis, TN 38116

  • Mixed-use properties
  • 44,416 SF
For Sale

Property Details for 1562 Two Pl

Year built
1977
Lot size
3.33 AC
Property size (Sq ft)
44,416 SF
Zone code
EMP
Property type
Mixed-use properties
Property subtype
Other industrial properties
APN
078-003- -A-00074
APU
078003A00074

Description

This Memphis, TN industrial property offers a compelling investment opportunity. Two buildings totaling 68,040 square feet are fully occupied by six diverse tenants, ensuring stable income. The property boasts 15 loading docks and 15 dock-high doors, with 20-foot ceilings. Located in the Southwest Industrial submarket, it benefits from convenient access to I-55 and I-40 interstates, placing it within two miles of Memphis International Airport and the FedEx World Hub. Individual utility metering down to 7,500 square foot bays provides flexible leasing options. The property underwent renovations in 2022 and enjoys 3-5% annual rent bumps. The limited supply of small-bay industrial space in Memphis positions this asset for continued growth and strong future returns. This stabilized, multi-tenant, NNN-leased property presents a value-add opportunity with a current NOI of $307,000. The property's location and features make it highly attractive to a wide range of tenants, ensuring long-term stability and potential for appreciation.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $7,935,556
    6.5%
    $7,325,128
    7%
    $6,801,905
  • Comparable approach

    Method
    Valuation
    Relative Method
    $5,367,140
    Geo Method
    $5,367,140
  • Alternative Use

    Use
    Valuation
    Residential
    $7,325,128
    Hospitality
    $6,709,778
    Educational
    $5,582,456
    Medical
    $5,774,446
    Retail
    $8,683,821
1562 Two Pl, Memphis, Tennessee

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.0592
Longitude
-90.0111
CBSA code
32820
CBSA name
MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$46,053
$50,440
$705,560
$756,000
-
$126,100
$1,763,900
$1,890,000

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