9105-9113 Macon Rd, Cordova, TN 38016
35,000 SF | 100% Leased | Industrial Building | Cordova, TN 38016 | $4,200,000 ($120/SF) | 7.94% Cap Rate
For Sale
Active
Asking Price $4,200,000
- Property Type
-
Industrial
- Price / Square Foot
- $120
Listing Contacts
Hunter Adams
Property Overview
UPDATE: Price Reduced to 8.00% CAP Rate with long term leases in place. High Quality Industrial/Flex asset for sale in the Memphis, TN MSA. 9113 Macon Rd. is located in the Northeast Submarket of Memphis which boasts an extremely low vacancy rate and strong rent growth. Strong barrier to entry for competing product and no new Flex buildings in the pipeline. The building and property have recent upgrades totaling $800,000 over the last 3 years including new roof, new office, and fully climate controlled warehouse. Average rents are below market and both tenants are strong companies. The building was constructed in 1997 to the highest standards and has been very well maintained over the years. Main tenant is the current owner and is leasing back the facility.
Property Details
- Class
- B
- Year Built
- 1997
- Stories
- 1
- Property Subtype
- Distribution, R&D, Showroom
- Lot Size (sq. ft)
- 187,744 SF
Highlights
- Rare Flex Asset in Northeast Memphis
- High Quality Construction
- Strong tenants with solid rental bumps
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