1532 Bonnie LnMemphis, TN 38016

Property Details for 1532 Bonnie Ln

Year built

2021

Lot size

0.74 AC

Property size (Sq ft)

4,400 SF

Zone code

RU-3

Property type

Retail properties

Property subtype

Auto shops

APN

096-500- - -00729

APU

9650000729

Description

This exceptional investment opportunity presents a 9,500-square-foot auto shop and storefront located at 1532 Bonnie Ln, Memphis, TN 38016. Built in 2021, the property sits on a 1.6-acre lot and boasts 100% occupancy with a strong, corporately guaranteed lease featuring annual rental escalations and a significant term remaining. The lease includes a collision right with a 2% annual increase, currently at 8 years remaining. The property operates under a modified NNN lease structure, minimizing landlord responsibilities to roof, structure, and HVAC. The property's strong financial performance is reflected in its $120,360 net operating income (NOI) and an asking price of $1,505,000, resulting in an attractive 8.00% capitalization rate. The location benefits from high traffic counts on Germantown Pkwy (44,752 vehicles daily) and convenient access via a lighted intersection with Bonnie Ln. Furthermore, the property enjoys a strong demographic presence, situated near a substantial retail corridor with over 500,000 square feet of retail space and a large population within a 3-mile (61,225) and 5-mile (146,261) radius. This turnkey investment offers a compelling combination of strong cash flow, a desirable location, and a secure lease structure.

• CAP approach

  CAP return

  Valuation

  6%

  $931,936

  6.5%

  $860,249

  7%

  $798,802

• Comparable approach

  Method

  Valuation

  Relative Method

  $864,420

  Geo Method

  $864,420

• Alternative Use

  Use

  Valuation

  Residential

  $725,652

  Hospitality

  $664,693

  Educational

  $553,017

  Medical

  $572,036

  Retail

  $860,249

Location Insight

City

Cordova

County

Shelby

State

Tennessee

Latitude

35.1671

Longitude

-89.7918

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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