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    610 Minor Rd Memphis, TN 38111

    Sponsored
    For Sale
    $1,499,000

    High-yield retail center, value-add opportunity.

    Property size:
    15,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 15,000 square foot shopping center in Memphis, TN, presents a compelling value-add investment opportunity. Located on a 0.917-acre lot at 610-626 Minor Rd, this single-story, 1964-built property currently boasts 73% occupancy across five units. The property features a strong NOI of $124,062, yielding an 8.28% cap rate, with a pro-forma NOI of $164,583 and a pro-forma cap rate of 10.98%. The asking price is $1,499,000, translating to $99.93 per square foot. Recent improvements include a new roof (2020) and a recently built-out 4,000 square foot space, previously occupied by Southern Animal Hospital (a $495,000 build-out), now available for immediate lease. The property is zoned commercial and benefits from its location in a vibrant University of Memphis neighborhood, providing a strong retail synergy with existing tenants offering essential in-person services. This presents a chance for an investor to capitalize on the existing tenant base and secure market-rate leases for the vacant space, significantly increasing the property's profitability. The property's strong location and potential for increased occupancy make it an attractive investment prospect.

    Property Features for 610 Minor Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    15,000 SF
    Lot Size
    39,945 SF

    Building Details

    Year Built
    1964
    Buildings
    1
    Stories
    1
    Units
    5

    HighLights

    • Value‑add opportunity: acquire and lease up to market rents.
    • New roof installed in 2020.
    Property Profile Location Intelligence

    Current Use by Public Records

    J. Remmers Quality ... Carpet Cleaning Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.94420680762
    Latitude
    35.114571615957

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    FAQs

    What type of property is this?
    Lifestyle center - High-yield retail center, value-add opportunity.
    Where is this lifestyle center located?
    The property is located at 610 Minor Rd Memphis, TN.
    What is the asking price?
    The asking price for this property is $1,499,000.
    What are key features of this property?
    This property features: Value-add opportunity: acquire and lease up to market rents.; New roof installed in 2020.;
    Request Owner's contact information
    610 Minor Rd Memphis, TN 38111
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    610 Minor Rd Memphis, TN 38111
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