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1188 Minna Pl
Memphis, TN 38104 Midtown Memphis

$2,119,000 USD

Office Residential For Sale  •  13,456 SF

Property Details

  • Property Type Office Residential
  • Total Building Size 13,456 SF
  • Lot Size 0.51 AC
  • Building Class C
  • Year Built 1969
  • Cap Rate 9.50 %
  • Tenancy Single
  • Zoning CH
35 Transit Score
59 Walk Score

Highlights

100% occupied by Shelby County Government (Shelby County Community Services).
The tenant just renewed the lease for an additional 5 years (firm), demonstrating their commitment to the site.
The lease offers 2% annual escalations, offering a strong hedge against inflation.
The site includes the parking lot on South of Minna Pl, a generous parking ratio of 5.8 stalls per 1000 SF.
New roof was installed in 2020 with a 10-year warranty.
Shelby County guarantees the lease and has an investment-grade credit rating of AA+ (S&P).
Cap Rate: 9.50 %

Major Tenants

Tenant SF Occupied Lease End Date
Shelby County Community Services Agency 13,456 SF 9/30/2030

Amenities

  • Restaurant
  • Signage

Public Transportation

Commuter RailDriveWalkDistance
Central Station (Riverfront Loop - Memphis Area Transit Authority Trolley (MataTrolley)) 5 min - 2.8 mi
AirportDriveWalkDistance
Memphis International 12 min - 7.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 50
Type: Surface
Included in Rent: Yes
Ethan Offenbecher 737-205-2056 Sands Investment Group Austin, LLC
Ethan Offenbecher 737-205-2056 Sands Investment Group Austin, LLC