3461 S 3rd St - Office FOR SALE


Memphis, TN 38109
$1,976,000 USD
859-907-2006
3461 S 3rd St, Memphis, TN for Sale
$1,976,000 USD
Office - FOR SALE
1/1
null | 8.75% Cap Rate

3461 S 3rd St
Memphis, TN 38109


HIGHLIGHTS

  • Lease guaranteed with the full faith and credit of the U.S. Government (S&P AA+ credit rating)
  • Build-to-Suit for the GSA in 2005
  • Shell rent bump of 10.27% on April 12, 2024
  • Remaining Term of 5.15 Years
  • Well-maintained masonry building
  • Memphis is the second-most populous city in Tennessee

OVERVIEW

The Ficke Team of Colliers is pleased to present to qualified investors the Social Security Administration (SSA) located at 3461 S. Third Street, Memphis, Tennessee. This single-tenant property consists of 10,661-rentable square feet developed in 2005 as a build-to-suit for the GSA/SSA that includes 23 parking spaces and sits on 1.56 acres. The current lease includes a shell rent increase of 10.27% on April 13, 2024, and the lease expires on April 12, 2029. This is an excellent opportunity for an investor to acquire a stabilized cash flow with rent guaranteed by the U.S. Government (S&P AA+ credit rating). Memphis is a city in and the county seat of Shelby County Tennessee, located in the southwest part of the state and is situated along the Mississippi River. With a population of 1.35 million people at the 2020 U.S. census, Memphis is the secondmost populous city in Tennessee, after Nashville. It is the fifth-most populous city in the Southeast, the nation’s 28th-largest overall, and the largest city bordering the Mississippi River. Memphis is the home of three Fortune 500 companies: FedEx, International Paper, and AutoZone. The Federal Reserve Bank of St. Louis also has a branch in Memphis.

FOR SALE DETAILS

PRICE

$1,976,000 USD

PRICE/SF

$176 USD /SF

CAP RATE

8.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Social Security Administration

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.56 AC

LAND SF

67,954 SF

ZONING

CH

APN/PARCEL ID

07-5074-0-0085C

ASK ABOUT THIS PROPERTY

Geoff FickeColliersMore Info
859-907-2006

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Geoff FickeColliersMore Info
859-907-2006

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.