Crane Co. Building of Memphis
53,800 SF | 96% Leased | Office Building | Memphis, TN 38103 | For Sale | 6.50% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
- Property Type
-
Office
- Square Feet
- 53,800 SF
Listing Contacts
Adam Cutler
Verified Profile
- Property Info
Property Overview
PRICE UPON REQUEST
-
Cutler Property Group, the owner, is pleased to offer for sale the historic Crane Co. Building of Memphis. Built in 1904, the Crane Co. Building of Memphis was the first reinforced fire-proof building in the Mid-South.
This six-story 53,800-square-foot office building was recently completely rehabbed into Class “A” FLEX offices providing individual offices and suites to professionals and businesses. The building fully meets all current building and fire codes and is ADA-compliant.
The upgraded systems include 100% fire sprinkler coverage, fire detection & alarm monitoring, comprehensive security alarm coverage, exterior/interior HD cameras with remote viewing, Cat 5 wiring and building-wide WiFi.
The building benefits from fiber service from both AT&T and Comcast. In 2023 a new HVAC central controller with new individual unit controllers were installed for improved comfort and energy efficiency.
The Crane Co. Building of Memphis is strategically located at 254 Court, Memphis, TN 38103 in Downtown Memphis’ Central Business District (CBD) (a designated Opportunity Zone). It is a short walk (within three blocks) to
the main courthouse, many hotels & restaurants, Autozone Park and the Downtown YMCA. Within a one-mile radius of world-famous Beale Street, St-Jude Children’s Research Hospital campus, FedEx Forum, and the Mississippi River / Tom Lee Riverfront Park. This offering comes with an adjacent private gated 43-car parking lot.
-
Cutler Property Group, the owner, is pleased to offer for sale the historic Crane Co. Building of Memphis. Built in 1904, the Crane Co. Building of Memphis was the first reinforced fire-proof building in the Mid-South.
This six-story 53,800-square-foot office building was recently completely rehabbed into Class “A” FLEX offices providing individual offices and suites to professionals and businesses. The building fully meets all current building and fire codes and is ADA-compliant.
The upgraded systems include 100% fire sprinkler coverage, fire detection & alarm monitoring, comprehensive security alarm coverage, exterior/interior HD cameras with remote viewing, Cat 5 wiring and building-wide WiFi.
The building benefits from fiber service from both AT&T and Comcast. In 2023 a new HVAC central controller with new individual unit controllers were installed for improved comfort and energy efficiency.
The Crane Co. Building of Memphis is strategically located at 254 Court, Memphis, TN 38103 in Downtown Memphis’ Central Business District (CBD) (a designated Opportunity Zone). It is a short walk (within three blocks) to
the main courthouse, many hotels & restaurants, Autozone Park and the Downtown YMCA. Within a one-mile radius of world-famous Beale Street, St-Jude Children’s Research Hospital campus, FedEx Forum, and the Mississippi River / Tom Lee Riverfront Park. This offering comes with an adjacent private gated 43-car parking lot.
Property Details
- Class
- B
- Year Built/Renovated
- 1904/2023
- Stories
- 6
- Lot Size (sq. ft)
- 32,670 SF
Highlights
- Unique opportunity to acquire a premium performing downtown office building.
- Ideal Investor, Owner-User Purchase, or 1031 Exchange.
- Fully Renovated - 90% Occupancy - Majority Attorney Tenants - Private Gated Parking - Zero Trust Access Security
- 5 mins easy access to Interstate I-40 & I-240, 12 mins to MEM International Airport, 20 mins to East Memphis.
- Property management and revenue guarantee option.
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