Excellent opportunity to acquire a fully-occupied, five-building (seven-suite) medical portfolio in West Memphis, AR, located in the Memphis, TN MSA, just eight miles from downtown Memphis. West Memphis is experiencing significant economic momentum, evidenced by recent and planned government and corporate investments, including a $4B Google data center, and planned openings or expansions by Starbucks, Buc-ee's and Coca-Cola. This portfolio has a history of strong occupancy and is currently 100% occupied by established tenants. Two of the leases include rent escalations, and the investment offers the opportunity to increase returns upon lease renewal by raising rental rates for several of the leases and renegotiating owner responsibility for OPEX. Over $120,000 in recent owner and tenant improvements have enhanced the portfolio’s long-term value and reflect the tenants’ commitment to continued operations in the area. Portfolio package includes 302 S Rhodes, 304 S Rhodes, 308 S Rhodes, 318 S Rhodes and 316 W Tyler.
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Listing Snapshot
Price
$1,900,000
Days On Site
123 Days
Bedrooms
N/A
Inside Area (SqFt)
19,663 sqft
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
N/A
Year Built
2005
MLS® Number
1327058
Status
Pending
Property Tax
$15,396
HOA/Condo/Coop Fees
N/A
Sq Ft Source
Public Records
Friends & Family
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Recent Activity
3 months ago
Status changed to Pending
3 months ago
Listing updated with changes from the MLS®
4 months ago
Listing first seen on site
General Features
Additional Property Use
Medical/Dental
Disclosures
SellersDisclosureNotAvailable
Parking
Parking LotOn Street
SqFt Total
19663
Zoning
Commercial
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Exterior Features
Construction Details
Brick
Lot Features
City Lot
Community Features
HOA Fee Frequency
Monthly
Listing courtesy of Ashley Habiger of Delta Properties
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