Individually Owned Property summary
This exceptional investment opportunity presents a 7,120-square-foot shopping center located at 1605-1609 Getwell Rd, Memphis, TN 38111. The property boasts 100% occupancy with a stable, long-term tenant, generating a strong net operating income (NOI) of $57,811 and a compelling 9.25% capitalization rate. Built in 1947, this single-story, 7,120 square-foot building sits on a 0.702-acre lot and is zoned for commercial use. The asking price is $625,000, translating to a price per square foot of $87.78. This stabilized investment offers a secure and profitable return for discerning investors seeking a well-performing retail asset in a desirable Memphis location. The property's strong performance and consistent cash flow make it an attractive addition to any portfolio. The single-tenant occupancy simplifies management and minimizes vacancy risk. This is a rare opportunity to acquire a fully leased, high-performing retail property in a prime Memphis location. The property's solid financials and stable tenant base make it an ideal investment for those seeking long-term growth and passive income. The 0.702-acre lot provides ample space for potential future expansion or redevelopment. This is a turnkey investment ready to generate immediate returns.
Property profile
VerifiedCap rate & NOI
Current use
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Loan Service
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
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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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