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2355 Frisco Ave, Memphis, TN, 38114

Sweeping Corp of America
$2,850,000

Key Information

Cap Rate
7.15%
$ per SF
$166
Year Built
1989
Type
Industrial
NOI
$203,000
Leasable Area
17,150

Highlights

  • Sweeping Corp of America (SCA) is a national tenant with 70 locations in the United States across 21 states. They have just recommitted to the property with an 8-year lease extension executed October 1st, 2025. Additionally, tenant financial reporting is available yearly for the 8-year term.
  • This industrial outdoor storage (IOS) site has a 5.38% coverage ratio making this an ideal site and offers flexibility for not only SCA but any company looking to occupy the site in the future. IOS has seen massive growth throughout the US but specifically in Sunbelt, state income tax free states. With 3.5% annual rental increases, this property boasts strong market rents now and for the foreseeable future.
  • Located just north of the Memphis international airport, this site is in an industrial corridor home to many other prominent tenants including Kellogg, ABF Freight, Master Halco, Pull-A-Part, FedEx World Headquarters, and many others.
  • Just minutes from I-240, the property offers strategic access to major transportation hubs and local access points. SCA has been in the property since 2019 and have found continued success in this strategic location leading them to commit to another term.

Photos

Location

Agents

Broker of Record

Hutt Cooke

License # 263667 (TN)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203