4033 Lamar AveMemphis, TN 38118

Property Details for 4033 Lamar Ave

Year built

1964

Lot size

4.12 AC

Property size (Sq ft)

12,000 SF

Zone code

EMP

Property type

Industrial properties

Property subtype

Other industrial properties

APN

073-031- - -00009

APU

7303100009

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $1,979,051

  Hospitality

  $1,812,800

  Educational

  $1,508,228

  Medical

  $1,560,099

  Retail

  $2,346,133

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0535

Longitude

-89.9298

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.