Entity Owned Property summary
This exceptional investment opportunity presents a 2,000 square foot storefront located at 1578 Getwell Rd, Memphis, TN 38111. The property, part of a two-building condominium complex, is currently leased to a long-term, stable tenant, Metro PCS, ensuring a consistent income stream. The asking price is $225,000, translating to a price per square foot of $112.50. The property boasts a strong net operating income (NOI) of $17,733, yielding an attractive 7.88% capitalization rate. The single-story building is zoned for commercial use and offers a total of 2,000 square feet of net rentable space. This is a single-unit property within a two-building complex, making it an ideal investment for those seeking a low-maintenance, high-return retail asset in a thriving Memphis location. The property's strong tenant and favorable financial metrics make it a compelling opportunity for investors seeking stable income and potential appreciation. The location in Shelby County provides easy access to major transportation routes and a dense customer base. This is a turnkey investment ready for immediate income generation. Serious inquiries only.
Property profile
VerifiedCap rate & NOI
Current use
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Mobile Phone Store Electronics & Wireless Store
Location
Value estimations
Owner & transaction history
Zoning & alternative use
PRINCIPAL USE R6 RU-1 RU-3 CMU-1 CMU-2 CMP-2 Woodworking, including Cabinet Makers and Furniture Manufacturing □ ■ Warehouse □ □ Recycling Drop-off Facility □ □ □ Neighborhood Garden ■ ■ ■ ■ ■ ■ Planned Development1 □ □…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Price sensitivity
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Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
CMU-1 · Memphis, TNPRINCIPAL USE R6 RU-1 RU-3 CMU-1 CMU-2 CMP-2 Woodworking, including Cabinet Makers and Furniture Manufacturing □ ■ Warehouse □ □ Recycling Drop-off Facility □ □ □ Neighborhood Garden ■ ■ ■ ■ ■ ■ Planned Development1 □ □…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
PRINCIPAL USE R6 RU-1 RU-3 CMU-1 CMU-2 CMP-2 Woodworking, including Cabinet Makers and Furniture Manufacturing □ ■ Warehouse □ □ Recycling Drop-off Facility □ □ □ Neighborhood Garden ■ ■ ■ ■ ■ ■ Planned Development1 □ □…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CMU-1 in Memphis, TN.
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