4033 Lamar AveMemphis, TN 38118

This exceptional investment opportunity presents a 28,699 square foot industrial property in Memphis, Tennessee, currently leased to a corporate tenant under an absolute NNN lease. The property, comprised of four buildings constructed in 1964 and 1990, sits on a 6.31-acre lot zoned EMP (Employment District) and boasts 14 loading docks. The lease, commencing September 10, 2021, and expiring September 30, 2036, offers a substantial remaining term of approximately 11.9 years, providing long-term stability and predictable cash flow. The tenant, a nationally recognized construction solutions provider, provides a corporate guarantee, mitigating risk. The property enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $344,642, representing a 6.50% cap rate on the $5,302,200 asking price, or $184.75 per square foot. Annual rent bumps of 1.5% are built into the lease, ensuring consistent growth in rental income. The property's strategic location, just 2.5 miles from Memphis International Airport and the FedEx World Hub, and its proximity to major transportation arteries, including I-240, further enhances its value and appeal. This asset is part of a larger portfolio, but can be purchased individually. The lease includes two 5-year renewal options at 101.5% above the then-current rental rate, with continued 1.5% annual escalations.