2714 Union Ave Memphis, TN 38112
- Office Properties & Spaces
- 55,356 SF
- 2.02 lot acres
Current Use by Public Records
- Coastal Partners / Real Estate Agency
- Anita K. Langston, APRN / Nurse Practitioner
- Audra Lewis / Nurse Practitioner
- Communities In Schools of Memphis / Non-Profit Organization
- Jacquelyn Donnelly, MD / Geriatrician
Property Details for 2714 Union Ave
- Lot size
- 2.02 lot acres
- Property size
- 55,356 SF
- Property type
- Office Properties & Spaces
Description
This exceptional seven-story, Class B office building, located at 2714 Union Ave Extended in Memphis, Tennessee, presents a compelling investment opportunity. Boasting 55,356 square feet of net rentable space, the property is currently 100% occupied by nine tenants under a multi-tenant lease structure with a remaining term of three years. The building, constructed in 1972 and extensively renovated in 2011, features 185 parking spaces and sits on a 2.024-acre lot. Recent capital improvements exceeding $1.7 million have upgraded major systems, including elevators, HVAC, the chiller, parking lot, and windows. The property benefits from a strong 10% capitalization rate and a substantial net operating income (NOI) of $587,588. Its prime Midtown location, bridging East Memphis and Downtown, offers convenient access to amenities and a vibrant urban environment, including the nearby Overton Square and Cooper Young districts. The property's connection to the City of Memphis' fiber loop is a significant advantage, fulfilling a requirement for all City of Memphis leases. Zoned CH, this asset is ideally positioned to continue attracting tenants seeking a central location between Downtown and East Memphis submarkets. The asking price is $5,850,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.974
- Latitude
- 35.1363
