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    5737 Nanjack Cir Memphis, TN 38115

    For Sale
    Contact for pricing

    Six Suites, 100% Occupied, High NOI

    Property size:
    912 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a fully occupied, six-unit office/medical building in Memphis, TN. Located in the desirable Mount Moriah Office Park, this Class B property boasts a total of approximately 912-960 square feet per suite, totaling approximately 5,472-5,760 square feet. The building, constructed in 1986 and extensively renovated in 2022, offers a mix of executive office and medical office spaces, currently leased to six separate tenants under modified leases with a remaining term of approximately 0.9 years, expiring September 30, 2025. The property enjoys 100% occupancy as of July 31, 2024, generating a substantial net operating income (NOI) of $90,963. Each suite features individual HVAC systems with varying ages (condensers ranging from 2 to 17 years, water heaters from 11 to 14 years, and furnaces from 8 to 36 years). Twelve parking spaces are available. The property is offered for sale by owner and presents a compelling 18% cap rate. Individual suite offers may be considered. Property taxes vary per suite, ranging from approximately $835 to $879 annually. Tenants are responsible for their own utilities. There are no rent bumps or ground lease. This is a turnkey investment ideal for a diverse range of buyers seeking a stable, high-performing asset in a prime Memphis location. The address is 5739 Nanjack Circle, Memphis, TN 38115.

    Property Features for 5737 Nanjack Cir

    General Information

    Property type
    Medical offices
    Square Feet
    912 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1986/2022

    HighLights

    • 5737 (928 sqft): $80,736 estimated value ($94/sqft), leased to Tasha Badger Tax Services at $1650/month, tenant pays utilities, annual taxes $850.39. HVAC systems: condenser (15 years), water heater (14 years), furnace (8 years).
    • 5739 (960 sqft): $83,520 estimated value ($94/sqft), leased to Majestic Parlor at $1550/month, tenant pays utilities, annual taxes $879.63. HVAC systems: condenser (2 years), water heater (12 years), furnace (23 years).
    • 5741 (960 sqft): $83,520 estimated value ($94/sqft), leased to Tasha Badger Tax Services at $1650/month, tenant pays utilities, annual taxes $879.63. HVAC systems: condenser (11 years), water heater (11 years), furnace (36 years).
    • 5743 (912 sqft): $79,344 estimated value ($94/sqft), leased to Marzel Barbershop at $1500/month, tenant pays utilities, annual taxes $835.77. HVAC systems: condenser (10 years), water heater (14 years), furnace (36 years).
    • 5745 (960 sqft): $83,520 estimated value ($94/sqft), leased to Tasha Badger Salon at $1650/month, tenant pays utilities, annual taxes $879.63. HVAC systems: condenser (15 years), water heater (11 years), furnace (8 years).
    • 5750 (1080 sqft): $93,960 estimated value ($94/sqft), leased to Zaria Woolridge at $1650/month, tenant pays utilities. HVAC systems: condenser (17 years), water heater (11 years), furnace (16 years). Taxes unavailable.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Visions Of Natural Styles ... Beauty Salon Hair Essentials by ... Hairdresser

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage 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
    -89.8716391
    Latitude
    35.0730754

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    FAQs

    What type of property is this?
    Medical office - Six Suites, 100% Occupied, High NOI
    Where is this medical office located?
    The property is located at 5737 Nanjack Cir Memphis, TN.
    What are key features of this property?
    This property features: 5737 (928 sqft): $80,736 estimated value ($94/sqft), leased to Tasha Badger Tax Services at $1650/month, tenant pays utilities, annual taxes $850.39. HVAC systems: condenser (15 years), water heater (14 years), furnace (8 years).; 5739 (960 sqft): $83,520 estimated value ($94/sqft), leased to Majestic Parlor at $1550/month, tenant pays utilities, annual taxes $879.63. HVAC systems: condenser (2 years), water heater (12 years), furnace (23 years).; 5741 (960 sqft): $83,520 estimated value ($94/sqft), leased to Tasha Badger Tax Services at $1650/month, tenant pays utilities, annual taxes $879.63. HVAC systems: condenser (11 years), water heater (11 years), furnace (36 years).
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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
    5737 Nanjack Cir Memphis, TN 38115
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