1562 Two PlMemphis, TN 38116

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

Industrial properties

Property subtype

Loft space

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.

• 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

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

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