5733 Nanjack Road Memphis, Tennessee 38115

An Office Condominium – 900 Square Feet, Currently Set Up as a Beauty Salon

Purchase Price: $59,900
Property Status: Ready for tenant – Includes All Work

TAX APPRAISAL: $68,300

Closing Costs: $1k (estimated)

Total Monthly Debt Service (Assumes Cash Purchase)

Rent Range: $775 – $925(assumes $825)

City/County Taxes: $162(based on 2011 values) – WILL NEED TO BE CONTESTED IMMEDIATELY!
Condo Fee(includes insurance, exterior maintenance, driveway maintenance, etc.): $75
Less Management (9%): $74
Positive Monthly Cash Flow: $514/month!!!

Plus instant equity!

A commercial office condo which last sold for approximately 72k in 2006.  This property is in an excellent commercial location, near Mendenhall and Mount Moriah.

This property qualifies for Robert Feol’s Short Term Retirement Program – a simple, non qualifying permanent lending program where you bring 50% of the purchase price as a down payment, and we will finance the rest over a 5 or 7 year period. All Short Term Retirement loans feature a fixed rate and full amortization, meaning after 5 – 7 years you own your investment home free and clear, without any lien on it.

You can also purchase using private hard money o0r use cash to acquire the property also.

Property is offered completely turnkey, using Marathon Management as our management hub.   Includes 24 hour access to property statements, rental income, etc., through their online software system.

Link to Marathon’s Management Website can be found HERE:

Massive cash flow property, with a diverse array of profitable exit strategies.

Investor Fundamentals:

Property taxes are based on $68,300 assessed value, which can be contested to increase cash flow. Square footage is based on Shelby County Tax Assessor’s information.  WE RECOMMEND TAX CONTESTING IMMEDIATELY AFTER PURCHASE TO IMPROVE AND MAXIMIZE CASH FLOW.