Auction - 72,000± SF 3- Story Office Building on Airways Blvd.

Airways Professional Center presents an opportunity to acquire a 72,000-square-foot, three-story office property situated on approximately 4.34 acres along Airways Boulevard in Memphis, Tennessee. Originally constructed in 1967 and renovated in October 2023, the property combines substantial recent improvements with a well-established location offering convenient access to major employment centers, transportation corridors, and population centers throughout the Memphis metropolitan area.

The multi-tenant property contains approximately 72,000 square feet of rentable building area, with typical floor plates of approximately 23,872 square feet. The building features masonry construction, three passenger elevators, a fully sprinklered life-safety system, and approximately 10-foot slab-to-slab heights. The property’s sizable 4.34-acre site provides an attractive land-to-building ratio and supports the operational needs of a multi-tenant professional office environment.

The combination of recent capital improvements, substantial acreage, multi-tenant configuration, and central Memphis location creates multiple potential avenues for value creation through leasing, tenant retention, operating efficiencies, and continued stabilization.

The property’s approximately 23,872-square-foot floor plates provide flexibility to accommodate a range of tenant sizes and configurations. This flexibility, combined with the property’s accessibility and recent renovation, positions Airways Professional Center to serve both traditional office users and other compatible professional-service occupancies.

For investors seeking office opportunities where value is driven by basis, current income, leasing upside, and long-term real estate fundamentals, Airways Professional Center represents a compelling opportunity within the Memphis market.

Recent Renovation
A key component of the investment opportunity is the property’s October 2023 renovation, which provides investors with the benefit of significant recent capital improvements while retaining the property’s established operating history. The improvements enhance Airways Professional Center’s ability to compete for professional, medical, governmental, and service-oriented office users seeking functional space at an accessible Memphis location.

Strategic Memphis Location
Located at 3385 Airways Boulevard, Airways Professional Center benefits from a central Memphis location with connectivity to the city’s primary transportation network. The property is positioned near Interstate 240, providing convenient access to East Memphis, Downtown Memphis, Memphis International Airport, and surrounding communities.

The Airways Boulevard corridor is particularly well positioned for organizations that value regional accessibility, proximity to the airport, and convenient access for employees and customers traveling from multiple areas of the Memphis MSA. The location also benefits from its proximity to established residential neighborhoods, commercial corridors, healthcare facilities, and major employment centers.