6347 Navy Rd Millington, TN 38053

Property Details for 6347 Navy Rd

Year built

1953

Lot size

2.27 lot acres

Property size

13,350 SF

Zone code

CMU-1

Property type

Strip malls

Property subtype

Neighborhood centers

APN

D01-16D- -C-00008

APU

D0116DC00008

Description

This exceptional investment opportunity presents a fully leased three-tenant strip center located at 6347 Navy Rd, Millington, TN. The property boasts a strong 7.97 cap rate, calculated inclusive of the average income generated by the owner-operated coin laundromat, which is one of the three tenants. All laundry equipment is included in the sale and is affixed to the building. The property offers ample parking with 106 unassigned spaces, ensuring convenient access for tenants and customers. The building's roof is covered by a warranty with an expiration date of October 29, 2028, providing peace of mind to the new owner. This turnkey investment is ideal for a passive income portfolio or an experienced commercial property investor seeking a stable, high-return asset. The property's strong tenant occupancy and included laundry equipment contribute to its exceptional value and potential for continued growth. The location in Millington, TN, offers excellent visibility and accessibility. This is a rare opportunity to acquire a well-maintained, income-producing commercial property with a proven track record. Serious inquiries are encouraged to schedule a viewing and explore the financial details of this promising investment. The property is priced at $2,000,000.

Location Insight

City

Millington

County

Shelby

State

Tennessee

Longitude

-89.8514

Latitude

35.3376

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments