High-Yield Office | Stable Municipal Tenants 2714 Union Avenue Ext 5 143 m² 100 % Loué Bureau Vente aux enchères en ligne Memphis, TN 38112

NAI Saig Company is pleased to exclusively offer the opportunity to acquire the fee simple interest in a high-yield, recently renovated office property located at 2714 Union Avenue in Memphis, Tennessee. The property is fully leased, primarily by multiple divisions of the City of Memphis, with most tenants having occupied the building for over 10 years. This long-standing relationship with a variety of city departments provides significantly reduced risk of lease rollover or cash flow interruption. Additionally, the diverse but relatively small tenant mix allows for more manageable renewals, and the tenants’ long tenure suggests the potential likelihood of renewal without extensive negotiation. This presents a valuable upside for a new owner, offering both dependable income and the opportunity to enhance value through strategic lease adjustments over time.

2714 Union Avenue benefits from central access between the Midtown and East Memphis office submarkets. Its proximity to Poplar Avenue, Interstate 240, and major institutions like the University of Memphis and nearby hospitals makes it attractive to a range of industries, including healthcare, professional services, and education. The location benefits from nearby retail and dining options, enhancing employee convenience and client engagement, while also serving as a cost-effective alternative to higher-priced Class A East Memphis properties. This makes it a versatile site for businesses seeking visibility, access, and talent in a strong Memphis corridor.

Lower rents and updated mechanical systems present a strong investment opportunity by attracting cost-conscious tenants while minimizing operational risks. Over the past few years, the property has been improved with more than $1 million in extensive renovations. Currently, the asset boasts a new roof, modernized elevators with all mechanical elements completely replaced, and updated HVAC, and Class A interior office finishes. The combination of affordable lease rates and modern infrastructure leads to reduced capital expenditures, lower utility costs, and higher tenant satisfaction. These buildings often deliver a lease-up more quickly, generate stable cash flow, and offer value-add potential through incremental rent growth. With limited maintenance needs and strong occupancy, they also position well for future resale or refinancing.

Property tours are by appointment only. Please contact the listing broker to schedule.