2589 Appling Rd
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2589 Appling Rd
5,000 SF 100% Leased Office Building Memphis, TN 38133 $855,000 ($171/SF) 5.27% Cap Rate
Investment Highlights
- Medical Tenant
- Great Location
Executive Summary
$5,000 sqft building totally occupied by Methodist Healthcare.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$82,400
|
$16.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$82,400
|
$16.48
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$37,300
|
$7.46
|
| Net Operating Income |
$45,100
|
$9.02
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $82,400 |
| Annual Per SF | $16.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $82,400 |
| Annual Per SF | $16.48 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $37,300 |
| Annual Per SF | $7.46 |
| Net Operating Income | |
|---|---|
| Annual | $45,100 |
| Annual Per SF | $9.02 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
5,000 SF
Building Class
B
Year Built
2008
Price
$855,000
Price Per SF
$171
Cap Rate
5.27%
NOI
$45,100
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
5,000 SF
Building FAR
0.21
Land Acres
0.53 AC
Zoning
RS6
Parking
26 Spaces (5.2 Spaces per 1,000 SF Leased)
Amenities
- Signage
PROPERTY TAXES
| Parcel Number | 09-5100-0-0188 | Improvements Assessment | $176,120 (2024) |
| Land Assessment | $31,640 (2024) | Total Assessment | $207,760 (2024) |
PROPERTY TAXES
Parcel Number
09-5100-0-0188
Land Assessment
$31,640 (2024)
Improvements Assessment
$176,120 (2024)
Total Assessment
$207,760 (2024)
-
Glen Bascom -
Bascom Realty, LLC
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2589 Appling Rd
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