Medical Office Building with Expansion
3267 Hacks Cross Road, Memphis, TN 38125
For Sale
Contact for pricing
A dental practice occupies the property under a corporate lease running through August 2036.
Property Size3,971 SF
Lot Size0.97 Acres
Price / SF$390.83
Days on Market40
Property Features for 3267 Hacks Cross Road
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Site & Location
Neighborhood
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Office Units
Property Use
Medical Specialty
Building Details
Year Built
Buildings
Building Size
Tenancy
Owner Occupied
Listing Agency:
Peranich Huffman
Listed By:
Lucas Zemlicka · License TN #767664
Source:
Crexi
Added: Oct 1
Changed: Nov 8
Last Checked: Nov 8 at 5:35PM
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 Peranich Huffman
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,971-square-foot medical office property was built in 2016 on 0.97 acres and is occupied by Heartland Dental, LLC. The building was planned to accommodate a second suite, with plumbing and electrical infrastructure already installed for that configuration. The existing clinic supports two full-time dentists and operates five days per week.
Heartland Dental has extended its corporate lease for 10 years, through August 2036. The agreement includes 2.0% annual rent increases and three additional five-year renewal options, each with continued 2.0% annual increases. The property is located at 3267 Hacks Cross Road in Memphis, Tennessee.
Heartland Dental has extended its corporate lease for 10 years, through August 2036. The agreement includes 2.0% annual rent increases and three additional five-year renewal options, each with continued 2.0% annual increases. The property is located at 3267 Hacks Cross Road in Memphis, Tennessee.
Key Highlights
- 3,971‑square‑foot facility on 0.97 acres
- Built in 2016 with infrastructure for a second suite
- Heartland Dental, LLC corporate lease extended through August 2036
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,536
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,050,720
$1.1M
Cap Rate 7%
$750,514
$750.5K
Cap Rate 9%
$583,733
$583.7K
Market Conditions
NOI Build-Up for 3,971 SF
Gross rent
$83.4K $21.00/SF
− Vacancy
−$13.3K −$3.36/SF
EGI
$70.0K $17.64/SF
− OpEx
−$17.5K −$4.41/SF
NOI
$52.5K $13.23/SF
Area
ZIP 38125
Vacancy
16.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,050,720
Cap Rate 7%
$750,514
Cap Rate 9%
$583,733
Alternative Uses
Best Use
Office B
$750.5K
$656.7K – $875.6K
NOI $52,536 @ 7.0% cap · market cap 3.39%
Second Best
Healthcare Medical
$743.4K
$650.5K – $867.3K
NOI $52,036 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$1.05M
$922.1K – $1.23M
NOI $73,765 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 38125, TN
40,970
Population
16,435
Households
2.5
Avg Household Size
37
Median Age
37%
College-Educated
95%
High-School Grad
19.0 sq mi
ZIP Area
2,156
Density / Sq Mi
$83,184
Median Household Income
$45,793
Median Earnings
$1,440
Median Rent
$230,400
Median Home Value
Market
Properties on Market for Medical Office Space in Memphis
Vacancy Rate% for Office in Memphis, TN
Similar Off Market Nearby
- Banfield Pet Hospital — 7706 Winchester Rd Suite #110, Memphis, TN 38125
Frequently Asked Questions
What type of property is this?
Medical Office Space - A dental practice occupies the property under a corporate lease running through August 2036.
Where is this medical office space located?
The property is located at 3267 Hacks Cross Road Memphis, TN.
What is the asking price?
The asking price for this property is $1,552,000.
What are key features of this property?
This property features: 3,971‑square‑foot facility on 0.97 acres; Built in 2016 with infrastructure for a second suite; Heartland Dental, LLC corporate lease extended through August 2036
