Building A | Value-Add Office 3175 Lenox Park Blvd 8 928 m² 41 % Loué Bureau Vente aux enchères en ligne Memphis, TN 38115

3175 Lenox Park Boulevard is an ideal opportunity just southeast of Downtown Memphis. An institutional-quality asset with spacious floor plates, luxurious lobby finishes, and ample surface parking, the property presents a compelling value-add or owner/user opportunity. At 41% occupied, the current rent roll generates $88,728 in cash flow to offset expenses, enabling new ownership to focus on lease-up and subsequent value creation.

The property is in an excellent location near Highway 385, just 3 miles from East Memphis, Germantown, Collierville, and North Mississippi. This location reaches a wide commuter base and offers convenient access to major Memphis thoroughfares and the plethora of surrounding amenities. This asset presents an outstanding investment opportunity in the Memphis suburban market.

Memphis is the second-most populous city in Tennessee. Located along the Mississippi River, Memphis is the hub of an MSA with a population of nearly 1.3 million, including portions of eastern Arkansas and northern Mississippi. The Greater Memphis region is also sometimes referred to as the Mid-South. Memphis is the largest city within a two-hour drive in any direction, with Nashville to the east, Little Rock to the west, and Jackson to the south. As such, Memphis has an outsized economic importance to the region, with people traveling from small towns into the city for business, healthcare, retail, entertainment, and air travel. Memphis has long had a prominent music scene, from historic blues clubs on Beale Street to Sun Recording Studio, which launched the career of Elvis Presley. Multiracial and multicultural influences continue to shape the city’s music and culture. Memphis-style barbecue has achieved international prominence, and the city hosts the World Championship Barbecue Contest, which attracts over 100,000 visitors to the city annually.

Although the Property has a physical occupancy of 41%, a non-performing master lease encompassing 54,986 SF remains in place. If performing, this lease would increase overall occupancy to approximately 98%. A purchaser will have the opportunity to pursue remedies under the existing master lease or elect to terminate and reposition the space.

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