Courtyard Off the Square Apartments
325 S. Center Street, Collierville TN 38017
Virtual Tour
View the Space in 3D
The Offering
Summary
- Asking Price $6,400,000
- Price per unit $160,000
- Number of units 40
- Year Built 1965
- Approx sq ft 36,000
- Land area 3.61 ac
- Number of buildings 1
- Number of stories 2
Stabilized Asset in Coveted Supply-Constrained Collierville Submarket
10 MINUTES FROM 2,000 NEWLY ANNOUNCED ELECTRIC VEHICLE JOBS
ASSUMABLE LOAN @ 6.3% INTEREST RATE
40 Units I Built 1965
Stabilized Asset in Coveted Supply-Constrained Collierville Submarket
Ask Price $6,400,000 or $160,000/Unit
In-Place NOI $439,000
In-Place CAP 6.71%
Loan Balance $4,500,000
Interest Rate 6.3%
Loan Term 5 years (Jan 2029) with 30-year am
INVESTMENT HIGHLIGHTS
- 10 Minutes from newly announced $1.9B EV battery plant, a JV between Daimler, Cummins & Paccar that is slated for 2027 production start
- Stabilized Apartment Community at 100% Occupancy
- $59,000+ in Annual Upside via proven Mark-To-Market based on newest leases
- Opportunity to Additionally Unlock Revenue via Flat Utility Fees
LOCATION HIGHLIGHTS
- Multifamily occupancy in Collierville at 94%
- A moratorium on multifamily development insulates Collierville from oversupply
- Premier location in supply-constrained Collierville submarket—with $113,000 in Median HH Income, the 7th ranked city in state of Tennessee
- Well-positioned near major economic demand drivers and retail mecca at Houston Levee/Hwy 385-Corridor
- Within 30 Miles from Ford Motor’s Blue Oval City, the newly announced $5.6 Billion electric vehicle plant projected to add 27,000 new jobs to the Region
5865 Ridgeway Center Pkwy Ste 300, Memphis, TN 38120
Phone 901-767-1998
TN Company License #256220
MS Company License #C-21186
Back to our portfolio