115 W US HIGHWAY 72 COLLIERVILLE TN 38017-2917
100% leased 26,980 sq. ft.
Marketing description
The property has 14 individual tenants producing Gross Rents of $217,000. Net Operating Income of $160,000 produces an 8.89% cap rate on the $1,800,000 asking price. The majority of the tenants are on 1-3 year leases allowing for significant flexibility to improve lease rates. At the same time, the majority of the tenants have been tenants for several years.
Investment highlights
This income property includes multiple fully leased mixed use buildings. Tenants include the only laundromat in Collierville, plus other retail and office uses. One building contains multiple small commercial bays with an office and open warehouse/shop with grade level door very suitable for small business users. Originally built in 1967, the property has undergone multiple renovations and improvements. The most recent improvement was new roofs and painting of certain of the buildings in 2025.
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