Updated over 8 years ago on . Most recent reply
COMMERCIAL/RETAIL- MEMPHIS, TN - BRING YOUR BEST OFFER - $198,000
LOCATED IN HIGH TRAFFIC AREA. Hwy 61 (Third Street) with much potential for growth. Near hwy 55 and the MS border.
Urban site - Ideally suited for a restaurant, specifically soul food or gas station type businesses.
Easy access to Highway 55 and Desoto County, MS. Centered among several long term and stable businesses such as KFC, McDonald's, Subway, It's all good auto sales, Mercedes Benz dealer, night club and much more. Easy conversion from restaurant to your business vision.
This would be a great location for the right business. Formerly Ms. B's Soulfood & Sandwich Bar for 24 years. Currently utilized as a restaurant. This property has lots of potential.
Make this your 1st, 2nd, or 3rd location! Excellent for a soul food restaurant, gas station, office, etc. Make an offer! Sold AS-IS!
Freestanding commercial building on busy main highway
Asphalt/Blacktop parking lot
16-30 parking spaces
SALE INCLUDES - Building and Land, Some Furnishings, Some Equipment
TENANT PAYS All Utilities, Heat, Water/Sewer, Electricity, Outside Lighting, Janitorial Services, Common Area Maintenance, Trash Removal, Outside Repairs, and partial taxes per lease agreement
ROOF - Composition Shingles
CONSTRUCTION - Brick
NEW FINANCING - Conventional, Cash Only
LEASE - Current lease in place due to expire in August. Current rent $1,350 per month. Anticipated rent increase to $1,500 per month.
HOT WATER - Public Water, Public Sewer
COOLING SYSTEM Central Cooling, 2+ Window Units per Unit
HEATING SYSTEM - Central
FLOORS - Tile
RESTROOMS - 3
YEAR BUILT - 1960
Cap rate 8.10 (Will increase to 8.18 in Aug 2017)
*Acreage / Square Footage: Acreage / Square footage information in the MLS is sometimes inaccurate. Information to be verified by buyer or an appraiser or expert of buyer's choosing.
Contact Karimah for more information - Mobile: 470-779-3759 | Office: 901-590-1527
Bring your best offer! Owner is motivated to sell. Property currently leased @ $1350.00 per month.