Collierville Marketplace self storage

Collierville market place mini storage

Bob Woods land at Poplar & 196 in Piperton

Bob Woods (662-252-2333 or 662-274-5173) said he is remodeling the gin building on south side of Poplar at 196 into a retail center. Out front he is building a Shell station/Baskin Robbins. He built a similar shell station in Slayden MS that I can look at. He said there is a big residential subdivision called Twin Hills Ranch going in on 2000 acres that goes between HWY 57 and HWY 72 between Piperton and Rossville. Mr. Adair owns Twin Hills Ranch.

Houston Levee and Wolf River Blvd

8 point something acres zoned for retail. In Collierville. Existing bank on corner. Jason sent me plat. He owns it. McDonalds is after him to sell them an out parcel. This will be too expensive for mini storage. Jason said it is not really for sale but he would sell in the $15 per foot range.

Jason Crews
Crews Realty, LLC
(901) 202-6306
jason@crewsrealty.com
www.crewsrealty.com
Main (901) 202-6303

Magnolia on Main

Office space in Collierville. Managed by Sherri Hart I think. Ann called them and they lease for $13 per foot triple net upstairs and $15 per foot triple net downstairs. They have smaller suites and one man offices, but they did have a 1500 sq ft space.

13.66 acres on Wolf River Blvd

Jim Gannaway (901-494-3169) 13.66 acre church property. 1600 feet of frontage on Wolf River Blvd. Under contract now but not closed. Was bought for 1.1 million ($1.85 per foot).

Now zoned residential but might be rezoned to accommodate retail or mini storage. Jim knows a female Collierville Alderman and she seemed to think it could be done. Land is low and so probably won't go for houses. The pet resort across the street was rezoned from residential.

office at Poplar & Aldersgate

Loyal Featherstone is building small office building with turret. Just East of Walmart on North side of Poplar in Collierville. He is putting his business in the building and will lease out the rest for $20 to $25 per foot he said, depending on how fancy you wanted it.

3.34 acres on Goodman across from Honda ATV dealership

Chuck Roberts (662-404-1111) is agent. South side Goodman. zoned AG now but could be C4. $1.3 million which is $8.93 per foot.

6.5 acres behind outback storage

Marcus and Millchap. Sign is on Goodman, but land is probably behind the dollar general store right next to Outback storage. I forgot to write agent's name down. Have left 2 messages and have not heard back.

Hartsell Realty Group - Goodman at Bill Hughey

Sam Edwards (901-827-2568 cell or 662-893-1360) is agent. 300 foot frontage. Lots 5 and 6. This is just west of Davidson rd on South side next to Quality landscaping. 12 acres total. Murphy Oil just bought across the street at the Northwest corner of Davidson and Goodman.

Lots 5 and 6 are the frontage lots. They have approx 150 feet of frontage each. See plat that Sam sent for lot shapes and sizes. Prices:

5 1.5 acres    $850,000   $13 per foot
6 1.5 acres   $850,000    $13 per foot
9 1.47 acres    $640,000   $10 per foot
10 1.47 acres        $481,000  $7.51 per foot
13 1.47 acres    $321,000  $5.01 per foot
14 1.47 acres    $480,000  $7.50 per foot

Lot 14 is right behind lots 5 and 6. We would need all 3 and possibly lot 9 which is next to lot 14.

40 acres North side Goodman near Outback Storage

20-aug-08 Jim Brown(662-393-2255) (owner is LC Vance who owns Omega Construction). 40 acres. $4 per foot if you buy the whole 40 acres. Now still AG but will be a PUD. If want just some frontage land on Goodman it will probably be $15 or $16 per foot.

2.28 acres $15 per foot

$15 per foot. Mike Ferguson McCullar Ferguson. C2 or C4 - 2.28 acres. This is in Southaven. Malone and Goodman. This will probably be a convenience store or gas station.

1.3 acres Crye Leike

1.3 acres - $995,000 which is $17.57 per foot
Has some sort of industrial zoning. Was going to be a tire store. Will Hicks Crye Leike 901-828-9200. Next door to walgreens on corner.
Church and Getwell

15 acres at Church and Getwell

$8.50 per foot. 15 acres at Church and Getwell. In Southaven - zoned commercial PUD. 1100 linear ft on church and 620 ft on Getwell. 15 x 43,560 x 8.5 = $5,553,900. Mike Ferguson (cell 901-486-8185) at McCullar-Ferguson office 662-890-5880

Cotton Plant property taxes

Cotton Plant is appraised for 2008 is $2,215,400.
City tax is 2,215,400 x 40% x tax rate of 3.25 = $28,800.20.

2008 County tax for CP is 2,215,400 x 40% x tax rate of 4.04 = $35,800.86

So combined 2008 tax amount is $64,601.06.

Per foot that is 64,601 / 37,770 = $1.71 per foot for city and county taxes for 2008
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If CP were in OB, the tax would be as follows:
2,215,400 x 15% x 98.3 = desoto county tax = $32,666
2,215,400 x 15% x 34.5 = OB city tax = $11,464.70
That's a total combined tax of $44,130.70
That would be $44,130.70 / 37,770 = 1.17 per foot.
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If CP were in Collierville tax would be as follows:
2008 County tax for CP is 2,215,400 x 40% x tax rate of 4.04 = $35,800.86
2008 City of Collierville tax is 2,215,400 x 40% x tax rate of 1.28 = $11,342.85
That's a total combined tax of approx $47,142
That would be $47,142 / 37,770 = 1.25 per foot
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If CP were in Piperton TN tax would be as follows:
Piperton tax is 48 cents per $100 of assessed value. Assessment on commercial property is 30% of appraised value.
2,215,400 x 30% = $664,620 is assessment for city of Piperton
$664,620 /100 x .48 = $3190.18 is city of Piperton tax
Fayette County property tax is $1.74 of assessed value. Assessment on Commercial property is 40% of appraised value.
2,215,400 x 40% = $886,160 is assessment for Fayette County
$886,160 /100 x 1.74 = $15,419.18 is Fayette County tax

Old liquor store at Poplar and Yates

Old white building on parcel 056057 00028C owned by Loeb. Assesor's website says lot is 100 x 162.5.

Field behind white building is parcel 056057 00030. Owned by WICKENS RONALD D & JULIA A in Arlington TN according to Assessor's website. Lot is 150 x 162.5

So total square footage for these 2 lots together is 40,625. If you had 40% coverage and 3 stories, you could build a 48,750 sq ft mini.

Extra space storage & Public storage

Extra Space storage at Poplar and tillman has 10 x 10 climate control for $116. This is on 2nd or third floor. They have ground level 10 x 15 climate control for $197.

Public storage next to chick fillet on poplar at Mendenhall has only climate control units. 10 x 20 is $223 and 10 x 15 is $204. 10 x 10 is $153

acerage at Germantown road and Neshoba

Talked to Pat Wilchek ( 870-5402 cell) at Foster Realty about this property. It also has smart growth zoning like the 36 acres near poplar and west. There is a 17 acre tract and a 10 acre tract. It goes back to Exeter where I walk some nights.

36 acres on cove west of west street in Gtown

Called Murray Foster (921-9383 cell) at Foster realty about this. It is at end of short cove on south side of poplar just west of west street. Murray said Poag and McEwen bought it and are getting it zoned to Smart Growth zoning. It will close in late 2008. Was zoned office campus.

Strip Center on Poplar west of Johnson

Nancy wanted to find out about the rent for this center. Acker Robison (262-1284) said that the front bays were $25 per foot triple net. The tenant expenses under the triple net clause he estimated to be $5 per foot per year. So that's $30 per foot per year rent. They bays are 1250 sq ft and probably around 800 or 900 sq ft. There is a restaurant space behind the retail part that is 4200 sq ft and he is asking $20 per foot triple net for that. 3 to 5 year lease.

This center is on the south side of poplar in 9200 block.

asphalt base price - standard construction

Ben Shelton told me that to get 3 inches of asphalt base on a 15,000 square yard job that it would cost around $13 per yard. He said that after the first of the year of 2009 he was hoping price would be back down to $10.50 per yard or that neighborhood for 3 inches of base. He said a long term parking lot did not need a surface coat.

31-July-09 Ben said that to do around 14,000 square yards of asphalt (3 acres) it would be about $14.42 per yard. This is for 2.5 inches of base and 1.5 inches of surface. So the $14.42 would buy the base AND the surface.

berm on Riverdale south of Shelby drive

Berm on east side of Riverdale is approx 6 feet tall by 40 feet wide.

3 acres on HWY 72 near vet office

On east side of 72. Jim Gannaway (901-494-3169 ) at John Green & Co. There is an old building on this property. It has an odd shape he said. 450 feet of frontage. Zoned GC.
Price is $895,000 or $6.84 per foot.

2.3 acres North side of Poplar at Fletcher in Collierville

Zoned for office. They tried to get it changed to commercial but could not.
Jim Gannaway (901-494-3169 ) at John Green & Co
price: $750,000 which is $7.49 per foot. Property is 200 ft x 500 ft.

20-aug-08 Jim says you could rent office on this site for $16 per foot and maybe $18 since it would be new. He says John Albright developed some stand alone buildings near Collierville City hall that would be like he thinks ought to be built on this site.

Site is 200 x 500. Jim said you could put about 19,000 sq ft on site.

Poplar at Eastley in Collierville 1.06 acres

1.06 acres on corner. Zoned GC (general commercial).
Jim Gannaway (901-494-3169 ) at John Green & Co
price: $600,000 which is $13 per foot.
20-aug-08 Jim Gannaway says retail space here would probably lease for $20 per foot. I don't know if that's triple net or not. He says the 2 rental houses to the west of this site could be bought and added to the site but they would have to be rezoned to commercial.

Collierville setbacks for GC zoning
front yard 50 feet
Side yard 20 feet
backyard 30 feet

Parking requirements (off street) (Table 151.117 in zoing code)
Need one parking space for this many square feet
arcade 200
Optometrist 100
Physicains and Dentists 100

shoe repair 150
beauty and barber shop 150
dry cleaning pickup station 150

real estate agent 200
insurance office 300

most other retail uses 200

office type uses:
Engineer 300
Architect 300

Executive, management, administrative
activities or private, profit making firms 300

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Collierville Design Guidelines 251.268

1 deciduous tree two inch caliper measured at a point six inches above the ground level (American Association of Nursery Standards of Measurement) for every 40 feet of frontage.

Fayette county - white metal bldg

White metal bldg east of where 385 crosses poplar in Piperton. On south side of poplar. 1 acre of land. building is 7800 sq ft of which 1600 sq ft is office. Asking price is $849,500 which is $108.90 per foot for bldg or $19.50 per foot for land. Agent Patrick Terrell (604-5609) with Crye Leike 854-5050.

Fayette County 30 acres

Loyal Featherstone (360-0201) - Rowena Featherstone. On North side of HWY 57 east of Ballard road in Fayette county. $1.2 million which is $40,000 per acre. Zoned commercial but she did not know exactly what kind of commercial. Cannot be used for industrial use she said.

10 acres on Macon road near Nickey Mini storage

Sold today at auction for $650,000 at Roebucks. 10+ acres and approx 65,000 sq ft of buildings. This is the land across the railroad tracks to the east of Nickey Mini Storage. It has lots of ramshackle buildings on it. Saw Ray Gil & sons at Roebucks.

Mini Storage zoning in Collierville

Spoke to Diana Dubois at Collierville planning department today. A storage facility must get a conditional use permit from the board of zoning appeals which meets once per month. It has to be in one of the following zoning districts according to collierville.com title XV 151.021 (uses permitted)

NC - neighborhood commercial 151.061.
Maximum area for NC Zone. No NC District shall exceed one and one-half acres in size

MPO - medical professional office

SCC - shopping center commercial

CB - Central Business

GC - General Commercial

RI - Restrictive Industrial

GI - General Industrial

Cummins-Allison new deal

5-aug-08
New deal for Cummins Allison
485 E South St # 112

At end of first 5 year lease, they paid $2225 per month for Sep 2007 thru Oct 2008.
Space is 2184 sq ft, so price at $2225 per month is $12.22 per foot.

New 5 year deal:

We repaint
Clean carpets
put solar film on windows

2 years at $2225 - Nov 2008 thru Oct 2010
3 years at $2300 - Nov 2010 thru Oct 2013

They changed last 3 years to $2275 per month and I said OK.

Kirby Raines mini storage

6504 E Raines Road - sold for $1.4 million. Kirby Raines Self Storage LLC bought it from Kirby Raines Partners. Deal closed 15-July-2008. 27,030 sq feet (according to article in The Memphis News July 30 - Aug 6 but is way too low) on 3.73 acres. Built in 1995.

Price works out to be $51.79 per foot at above footage . I measured bldgs on maps.live.com and got approx 51,000 sq ft. That would be more like $27.45 per foot. Land area is 162,261 according to Shelby County assessor's website.

Site is on website of Absolute Storage Management Inc. Michael Haugh is partner in ASM.

www.absolutemgmt.com

Earl Warren - approx 2.7 ?? acres on South side goodman

2 lots - if you buy 1 the price is $11.50 per foot and if you buy both the price is $10.50 per foot. I think this is across Goodman from Desoto Auto Sales.

8.74 acres on North side of Goodman just east of Malone

Earl Warren (662-895-7585) Land is C-4 and AR. The total parcel is 417 linear feet on Goodman and goes back 834 feet. It is zoned C-4 on front and AR on back. The line between the 2 zonings goes from a point 600 feet back from Goodman on the East side (next to Windsong) to a point 400 feet back on the West side. Price for entire parcel is $1.3 million.

The part that is C-4 is approx 4.786 acres and if the price is attributed just to that part, the price is $6.23 per foot. There is a "blue line" ditch on the property which is controlled by the Corps of engineers. It can be moved onto the AR zoned part of the site at some cost.