Millington Commercial Property For
For Sale
Contact for pricing
6347 Navy Rd., Millington, TN 38053
13350 SF building with tenants and coin laundry.
Property Size13,350 SF
Lot Size2.27 Acres
Price / SF$149.81
Days on Market714
Property Features for 6347 Navy Rd.
General Information
Standard status
Active
Size
13,350 SF
Class
C
Lot size
2.27 Acres
Property subtype
Office
Zoning
CMU-1
Building Details
Year Built
1953
Listing Agency:
Tiger Realty
(901) 770-7835
Listed By:
Jim Williams · License #327170
Source:
Crexi
Added: Aug 28, 2024
Changed: Aug 11
Last Checked: Aug 11 at 9:55AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This commercial property in Millington, TN, features a 13350 square foot building situated on a 2.27 acre lot. The property includes 106 parking spaces and houses three tenants with medium-term leases: Pops Bar and Grill, OM food mart, and On The Rox bar and Grill. Additionally, a seller-owned coin-operated laundry, Busy Bubbles, is located on the premises. The laundry equipment is attached to the building and will remain with the property. The current rents, including income from the laundry, result in a net 9.48 cap rate.
Key Highlights
- Excellent investment opportunity with a 9.48% Net Cap Rate.
- 13,350 sq ft building situated on a generous 2.27 acre lot**.
- Ample parking with 106 Parking Spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$157,305
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,146,100
$3.1M
Cap Rate 7%
$2,247,214
$2.2M
Cap Rate 9%
$1,747,833
$1.7M
Market Conditions
NOI Build-Up for 13,350 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$227.5K $17.04/SF
− Vacancy
−$17.7K −$1.33/SF
EGI
$209.7K $15.71/SF
− OpEx
−$52.4K −$3.93/SF
NOI
$157.3K $11.78/SF
Area
Shelby County, TN
Vacancy
7.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,146,100
Cap Rate 7%
$2,247,214
Cap Rate 9%
$1,747,833
Alternative Uses
Best Use
Specialty Retail
$2.25M
$1.97M – $2.62M
NOI $157,305 @ 7.0% cap · market cap 7.87%
Second Best
Retail
$1.73M
$1.51M – $2.02M
NOI $121,111 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $189,164 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 38053, TN
26,839
Population
10,674
Households
2.5
Avg Household Size
42
Median Age
21%
College-Educated
88%
High-School Grad
162.4 sq mi
ZIP Area
165
Density / Sq Mi
$58,548
Median Household Income
$41,429
Median Earnings
$1,105
Median Rent
$195,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pops Bar & Grill Millington — 6365 Navy Rd, Millington, TN 38053
Frequently Asked Questions
What type of property is this?
Bar & Pub - 13350 SF building with tenants and coin laundry.
Where is this bar & pub located?
The property is located at 6347 Navy Rd. Millington, TN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Excellent investment opportunity with a **9.48% Net Cap Rate**.; 13,350 sq ft building** situated on a generous **2.27 acre lot**.; Ample parking with **106 Parking Spaces**.
