6347-6359 E Navy Rd
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6347-6359 E Navy Rd
13,350 SF 100% Leased Retail Building Millington, TN 38053 $2,000,000 ($150/SF) 7.97% Cap Rate
Executive Summary
This 13350 sq ft building on 2.27 acres with 106 parking spaces houses 3 tenants and owner operated Busy Bubbles laundromat. Lease terms 6347 Navy $2828.48 15 year exp Aug 31, 2039 5% annual increase. 6353Navy $2500 5 year exp 2029, 6357 Navy Busy Bubbles generates average monthly revenue of $8,000, the ATM generates $200 per month. 6365 Navy, Pops Bar and Grill, $1928 exp Jan 31, 2026 ,5% annual increase. Roof warranty expires Oct 28, 2028. Shelby County Tax only - $8701.45. Insurance $5334. Utilities average $12,000 annually.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,350 SF
Building Class
C
Year Built
1953
Price
$2,000,000
Price Per SF
$150
Cap Rate
7.97%
NOI
$159,437
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.48
Lot Size
0.64 AC
Opportunity Zone
Yes
Zoning
CL
Parking
82 Spaces (6.14 Spaces per 1,000 SF Leased)
Frontage
290 FT on Navy Rd
PROPERTY TAXES
| Parcel Number | D0-116D-C0-0008 | Improvements Assessment | $195,440 |
| Land Assessment | $61,240 | Total Assessment | $256,680 |
PROPERTY TAXES
Parcel Number
D0-116D-C0-0008
Land Assessment
$61,240
Improvements Assessment
$195,440
Total Assessment
$256,680
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6347-6359 E Navy Rd
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