Office Properties in Memphis, Tennessee, offer a unique investment opportunity for those looking to capitalize on the city's rich history, cultural significance, and strong commercial presence. As a major transportation hub, Memphis is home to the world's second-busiest cargo airport, making it an attractive location for businesses and investors alike. Office Properties in Memphis can represent a range of investments, from Class A office buildings to smaller, more specialized spaces. With its prime location along the Mississippi River, Memphis offers a unique blend of amenities, infrastructure, and education, making it an ideal place to invest in an Office Property. The city is home to institutions like the University of Memphis and Rhodes College, as well as major corporations like FedEx, International Paper, and AutoZone. Additionally, Memphis boasts a range of amenities, including hospitals like Methodist Le Bonheur Healthcare and Baptist Memorial Healthcare, and attractions like Graceland and the National Civil Rights Museum. As a great place for business and travel, Memphis is an attractive location for investors, with its rich music scene, barbecue, and annual events like the World Championship Barbecue Cooking Contest.
With 59 Office Properties available for sale in Memphis, investors have a range of options to choose from. Memphis is a city that offers a unique blend of history, culture, and commerce, making it an attractive location for businesses and investors. In addition to Office Properties, Memphis is also home to a range of other commercial properties, including Commercial Real Estate, Apartment Buildings, Shopping Centers, and Hotels. The city's Commercial Real Estate market is driven by its strong transportation infrastructure, with the Memphis International Airport serving as a major hub for FedEx Express shipping. Memphis's Apartment Buildings offer a range of options for residents, from luxury high-rises to more affordable complexes. The city's Shopping Centers, like the Wolfchase Galleria, offer a range of retail options, while its Hotels, like the Peabody Hotel, provide a comfortable place for visitors to stay. With its unique blend of amenities, infrastructure, and education, Memphis is an attractive location for investors, and its Office Properties offer a range of investment opportunities.
What is the average price per square foot for office properties in Memphis?
The average price per square foot for office properties in Memphis is $143 USD per square foot, with 59 available listings ranging in size from 27,540 square feet to 241,225 square feet, and an average cap rate of 7.07%.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Memphis, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed decision.
- Class A office properties are typically high-rise buildings with premium finishes, advanced technology, and prime locations, often attracting high-end tenants and commanding higher rental rates.
- Class B office properties offer functional space with standard amenities, suitable for a wide range of tenants, and are generally more affordable than Class A properties.
- Class C office properties are often older buildings with limited amenities, requiring renovation or updating, and are typically priced lower than Class B properties, making them attractive to budget-conscious buyers or those looking for a redevelopment opportunity.
