Office-Heavy Flex
For Sale
Contact for pricing
453 Distribution, Collierville, TN 38017
The building combines private office suites with climate-controlled warehouse space and gated outdoor storage.
Property Size4,500 SF
Lot Size0.33 Acres
Price / SF$1.08
Days on Market84
Property Features for 453 Distribution
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.33 Acres
Property subtype
Commercial
Zoning
Ind
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
15 ft
Warehouse Space
2,200 SF
Office Build-Out
2,300 SF
Drive-In Doors
2
Conditioned Warehouse
Yes
Additional Details
Property Use
Office/Warehouse
Building Details
Year Built
1988
Stories
1
Building Size
4,500 SF
Listing Agency:
Bhhs McLemore & Co. Realty
(901) 701-7555
Listed By:
Riley Reed
(901) 487-6861
Source:
Assuredrealestate
Added: Aug 12
Changed: Nov 2
Last Checked: Nov 2 at 2:05PM
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 Bhhs McLemore & Co. Realty
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Investment Insights
Based on property information with market context.
Built in 1988, this flex property contains ±4,500 SF, including approximately 2,300 SF of office area and 2,200 SF of heated and cooled warehouse space. The office layout has two reception areas, seven private offices, a kitchen, and a second space prepared for a kitchen or break room. Flooring improvements include carpet, cove base, and tile in the kitchen and bathrooms. The warehouse has HVAC throughout, approximately 15' of center clear height, 12' eave height, and two grade-level overhead doors.
The property occupies ±0.33 acres in Collierville’s Distribution Parkway industrial corridor. The site includes approximately 6,500 SF of paved parking and storage, plus a fenced, gated outdoor area. Zoning is Ind.
The property occupies ±0.33 acres in Collierville’s Distribution Parkway industrial corridor. The site includes approximately 6,500 SF of paved parking and storage, plus a fenced, gated outdoor area. Zoning is Ind.
Key Highlights
- ±4,500 SF building with approximately 2,300 SF of office and 2,200 SF of warehouse space
- Seven private offices, two reception areas, a kitchen, and space prepared for another kitchen or break room
- Warehouse has approximately 15' center clear height, 12' eave height, HVAC, and two grade‑level overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,268
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,360
$565.4K
Cap Rate 7%
$403,829
$403.8K
Cap Rate 9%
$314,089
$314.1K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$44.3K $9.84/SF
− Vacancy
−$3.9K −$0.87/SF
EGI
$40.4K $8.97/SF
− OpEx
−$12.1K −$2.69/SF
NOI
$28.3K $6.28/SF
Area
Shelby County, TN
Vacancy
8.80%
Lease Rate
$9.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,360
Cap Rate 7%
$403,829
Cap Rate 9%
$314,089
Alternative Uses
Best Use
Flex RnD
$536.8K
$469.7K – $626.3K
NOI $37,576 @ 7.0% cap · market cap 770.79%
Second Best
Warehouse
$493.1K
$431.4K – $575.2K
NOI $34,514 @ 7.0% cap · market cap 707.98%
Theoretical Best
Office A
$910.9K
$797.0K – $1.06M
NOI $63,763 @ 7.0% cap · market cap 1,307.96%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
15 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 38017, TN
55,114
Population
20,850
Households
2.6
Avg Household Size
41
Median Age
60%
College-Educated
96%
High-School Grad
82.0 sq mi
ZIP Area
672
Density / Sq Mi
$135,946
Median Household Income
$70,857
Median Earnings
$1,489
Median Rent
$469,600
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - The building combines private office suites with climate-controlled warehouse space and gated outdoor storage.
Where is this flex space located?
The property is located at 453 Distribution Collierville, TN.
What are key features of this property?
This property features: ±4,500 SF building with approximately 2,300 SF of office and 2,200 SF of warehouse space; Seven private offices, two reception areas, a kitchen, and space prepared for another kitchen or break room; Warehouse has approximately 15' center clear height, 12' eave height, HVAC, and two grade‑level overhead doors
