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Property profile

2093 Thomas Rd Memphis, TN 38134

OFF-MARKET
Warehouses
Property ID
US80-3228002
View Sample
66,815 SF 6.88 ac lot Built 1989
Entity Owned 8-yr Hold Absentee Owner ~ Est. High Equity

Property summary

AI-generated overview

This exceptional multi-tenant industrial property, located at the intersection of Thomas Road and Spicer Cove in the Northeast submarket, offers a total of 126,500 square feet of warehouse and distribution space. The property consists of two buildings, constructed in 1989 and extensively renovated in 2020. Individual bays are available, with a minimum divisible space of 3,000 square feet and a maximum contiguous space of 3,000 square feet. Currently, one 8,100 square foot space is available. The buildings feature a desirable combination of dock-high doors at the front and drive-in doors at the rear, making them ideal for efficient loading and unloading of goods. Ceiling heights range from 18 to 22 feet, providing ample vertical clearance for storage and operations. The property is zoned for Light Industrial use and benefits from convenient access to the I-40/240 interchange. The electrical service is 208V 3-phase. This location is perfect for bulk deliveries and local and regional service companies seeking a well-maintained and strategically located industrial space. The property's modern amenities and flexible layout make it an attractive option for a variety of businesses. Contact us today to schedule a viewing and explore the possibilities.

Property profile

Verified
Property type Warehouses
Use group MINI-WAREHOUSE, STORAGE
Year built 1989
Total area 66,815 SF
Lot 6.88 ac (299,693 SF)
Zoning code EMP
APN 088-040- - -00135
UPID US80-3228002

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hardware & Home Improvement HVAC Service
  • Industrial Manufacturer Factory
  • Production Facility Metal Fabrication Plant
  • Custom T-Shirt Store Embroidery Shop
  • Distribution Center

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$4.56M
Blend (final) Blend
$4.46M

Owner & transaction history

since 2017
1 recorded transaction
2017
Price N/A

Zoning & alternative use

EMP · Memphis, TN
Zoning description

1. In the CA, CMU, EMP, WD, IH districts, outdoor runs are permitted. 2. In all other districts, outdoor runs are not permitted. All overnight care of animals must occur indoors. All pens, kennels and runs must be locate…

General category INDUSTRIAL
Top alternative use upside
Auto repair, garage $6.5M +115.9%
Office building $6.0M +98.9%
Apartment house (5+ units) $5.9M +98.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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