1831 Getwell Rd Memphis, TN 38111-7005

Property Details for 1831 Getwell Rd

Year built

1990

Lot size

5.61 lot acres

Property size

22,511 SF

Zone code

CMU-3

Property type

Auto shops

APN

058-096- - -00003

APU

5809600003

Description

This exceptional investment opportunity presents a 29,300 square foot retail property in Memphis, Tennessee, currently housing a thriving auto shop and storefront. The property boasts a 7.5% cap rate, with a Net Operating Income (NOI) of $256,237. The asking price is $3,416,000, translating to $116.59 per square foot. Built in 1990, the property sits on a 5.61-acre lot at 1831 Getwell Rd, Memphis, TN 38111, enjoying excellent visibility from Getwell Road and proximity to I-240. The property benefits from a strong population density in the immediate trade area: 92,962 within 3 miles and 207,792 within 5 miles. High traffic counts on Getwell Road (49,882 vehicles) and I-240 (136,426 vehicles) further enhance its appeal. The property features a modified NNN lease structure with minimal landlord responsibilities, including roof, structure, and HVAC. Annual rental escalations are in place, with Collision Right experiencing 2% annual increases and Hertz enjoying 3% annual increases starting October 25th. Both leases are corporately guaranteed, offering significant long-term stability. Collision Right's lease has 9 years remaining, while Hertz's lease has 6 years remaining. The property's location less than 5 miles from Memphis International Airport's rental car return provides a built-in customer base. This is a rare opportunity to acquire a high-performing, well-located retail property with significant upside potential. 100% occupancy ensures immediate cash flow.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Longitude

-89.9325

Latitude

35.0817

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments