4340 Fayette Rd
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4340 Fayette Rd
1,300 SF Retail Building Memphis, TN 38128 $170,000 ($131/SF) 7.62% Cap Rate
Investment Highlights
- Great investment location
- Motivated seller
- Long term tenant
Executive Summary
Investment opportunity! Long term tenant is month to month operating a daycare. Property previously used as a dental business; could also be medical or office in a thriving commercial area of Raleigh near Stage and Austin Peay Hwy. Tenant pays all utilities, licensing, insurance lawn maintenance & interior repairs. Seller pays taxes & liability insurance. Property is in good condition with recent improvements: architectural roof replaced 2018; HVAC replaced 2021; water heater 2024; fresh exterior paint 2024.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$18,000
|
$13.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$18,000
|
$13.85
|
| Taxes |
$1,998
|
$1.54
|
| Operating Expenses |
$2,300
|
$1.77
|
| Total Expenses |
$4,298
|
$3.31
|
| Net Operating Income |
$13,702
|
$10.54
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $18,000 |
| Annual Per SF | $13.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $18,000 |
| Annual Per SF | $13.85 |
| Taxes | |
|---|---|
| Annual | $1,998 |
| Annual Per SF | $1.54 |
| Operating Expenses | |
|---|---|
| Annual | $2,300 |
| Annual Per SF | $1.77 |
| Total Expenses | |
|---|---|
| Annual | $4,298 |
| Annual Per SF | $3.31 |
| Net Operating Income | |
|---|---|
| Annual | $13,702 |
| Annual Per SF | $10.54 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
1,300 SF
Building Class
C
Year Built/Renovated
1973/2010
Price
$170,000
Price Per SF
$131
Cap Rate
7.62%
NOI
$12,960
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Land Acres
0.16 AC
Zoning
C-H - CMU-3 Commercial mixed use.
Parking
5 Spaces (3.85 Spaces per 1,000 SF Leased)
Frontage
109 FT on Cela Rd
Amenities
- Bus Line
- Pylon Sign
- Signage
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- The Growing Patch Learning Academy
- Educational Services
- -
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| The Growing Patch Learning Academy | Educational Services | - | - | - |
PROPERTY TAXES
| Parcel Number | 08-8005-0-0005 | Total Assessment | $32,800 (2024) |
| Land Assessment | $7,040 (2024) | Annual Taxes | $1,998 ($1.54/SF) |
| Improvements Assessment | $25,760 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
08-8005-0-0005
Land Assessment
$7,040 (2024)
Improvements Assessment
$25,760 (2024)
Total Assessment
$32,800 (2024)
Annual Taxes
$1,998 ($1.54/SF)
Tax Year
2023
-
CHERYL BROGDON -
Kaizen Realty
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4340 Fayette Rd
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