100% Leased Office
For Sale
$1,152,042
1924 Exeter Rd, Germantown, TN 38138
For-sale office investment property in Germantown with 100% leased occupancy.
Property Size2,200 SF
Days on Market97
Property Features for 1924 Exeter Rd
General Information
Standard status
Active
Size
2,200 SF
Class
A
Property subtype
Multi Tenant Office
Occupancy
100%
Building Details
Building Size
2,200 SF
Year Built
1986
Listing Agency:
NAI | Saig Company
Listed By:
Brian Califf · License ##299669
(901) 526-3100
Source:
Thebrokerlist
Added: Jul 26
Changed: Oct 26
Last Checked: Oct 28 at 4:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI | Saig Company
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Investment Insights
Based on property information with market context.
This for-sale office investment opportunity is located in Germantown, Tennessee. The property is described as part of an office corridor near Poplar Avenue and is presented as fully leased, with 100% occupancy.
The surrounding area is characterized in the offering remarks as a mix of affluent residential neighborhoods and professional services, supporting an end-use environment for office tenants.
Additional details on unit mix, building configuration, and specific lease terms are not provided in the available information.
The surrounding area is characterized in the offering remarks as a mix of affluent residential neighborhoods and professional services, supporting an end-use environment for office tenants.
Additional details on unit mix, building configuration, and specific lease terms are not provided in the available information.
Key Highlights
- Office investment property in Germantown, TN
- 100% leased office occupancy
- Year built: 1986
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,660
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$673,200
$673.2K
Cap Rate 7%
$480,857
$480.9K
Cap Rate 9%
$374,000
$374.0K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$52.8K $24.00/SF
− Vacancy
−$7.9K −$3.60/SF
EGI
$44.9K $20.40/SF
− OpEx
−$11.2K −$5.10/SF
NOI
$33.7K $15.30/SF
Area
Memphis, TN
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$673,200
Cap Rate 7%
$480,857
Cap Rate 9%
$374,000
Alternative Uses
Best Use
Office B
$480.9K
$420.8K – $561.0K
NOI $33,660 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$650.2K
$568.9K – $758.6K
NOI $45,514 @ 7.0% cap · market cap 3.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,568
Businesses Nearby
Explore this area
Business Placement
Demographics for 38138, TN
25,837
Population
10,747
Households
2.4
Avg Household Size
45
Median Age
69%
College-Educated
98%
High-School Grad
11.9 sq mi
ZIP Area
2,171
Density / Sq Mi
$130,125
Median Household Income
$72,810
Median Earnings
$1,716
Median Rent
$393,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - For-sale office investment property in Germantown with 100% leased occupancy.
Where is this office unit located?
The property is located at 1924 Exeter Rd Germantown, TN.
What is the asking price?
The asking price for this property is $1,152,042.
What are key features of this property?
This property features: Office investment property in Germantown, TN; 100% leased office occupancy; Year built: 1986
