610 Minor Rd Memphis, TN 38111

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.