7047 commerce in OB (Bill Harrell)

Small 4800 sq ft retail building at corner of Goodman and 78 in Olive Branch. Bill Harrell is agent. He said owners want to sell but he did not have a price. He said rent is about $16.90 per foot with modified gross lease. So if annual rev is about $81,000 and and I take away 10% for vacancy and collection loses, the revenue is about $72,900 per year. Expenses are $25,000 per year (That's only 31% of gross rev but that's what I calculated them to be) then NOI is $72,900 - $25,000 = $47,900. At 9% cap rate, building is worth $532,222.

Desoto County appraisal is $438,182. To get a return (after paying note each month) of around 12.5%, you could offer no more than $425,000. That's with 70% mortgage and 7% mortgage rate.
$425,000 x 70% = $297,500. Note each month is $2674 so annual debt payments are 12 x 2674 = $32,088. Cashflow after debt service is $47,900 - $32,088 = $15,812. If buyer puts in $127,500 (30% of sales price) then return on equity is $15,812/$127,500 = 12.4%

Olive branch property tax rates

To figure property tax on land and buildings in OB, take 15% of appraisal and multiply it times mil rate of 133.2 (combined city, county, and school rate). So if appraisal is $438,182 then assessment is $65,727.30 and tax is $65,727.30 x 133.2 x .001 = $8,754.87.

Go to tax calculator at www.desotoms.info

6555 quince building bought by in-rel

Memphis Business Journal had story about in-rel buying old comcast building at Kirby and Quince for $5 million. It is 5 stories and 112,679 sq ft so price was $44.37 per foot. website is in-rel.com.

If building is 112,679 sq ft total with halls and lobby and elevators and public restrooms, I estimate that 80% is leasable space which is 112,679 x .8 = 90,143 sq ft. If rent is $15 per foot (guess), then possible gross rev is 15 x 90,143 = $1,352,145 per year. If you figure 8% vacancy and collection loss, then rev goes to 92% x 1,352,145 which is about $1,244,000 per year. If expenses are 40% of gross, then that's $541,000 and NOI is 1,244,000 miuns $541,000 = $703,000. At 9% cap rate, buildingis worth about $7,811,000.

Nut article in MBJ said building was only 45% leased and using those numbers then value is less. Gross rev is 90,143 sq ft x $15 per foot x 45% occupied = $608,500. If expenses are 40% or $244,000 then NOI is $364,500 and value at 9% cap is $4,050,000. In-rel paid $5 million so they obviously think they can gt occupancy up.....

10580 Highway 178

Industrial building for sale by Jim Brown. Looks like old house got added on to. 7,000 sq ft and price is $495,000 which is $70.71 per foot. This is somewhat near Hack Cross road. 2 acres of land. 2,200 sq ft of the 7,000 is office space.


www.brownproperties.info

10780 Highway 178

2700 sq ft Industrial building for sale. I talked to agent Shelly Bookwalter (Century 21) today and she said that Rokmasterz owns the building and occupies it. They apparently lease part of it to a cleaning company. Price is $249,900 which is $92.55 per foot. There is a storage building in the back. Shelly said you could lease the building for $3400 per month but that's a joke. I say more like $10 per foot (that's generous) which is $2250 per month. At 2250 per month the value is $2250 x 12 months = $27,000 revenue. Less $10,800 (40% ) expenses = $16,200. At 9% cap rate value is $180,000.

Collierville Mini Storage

This mini storage is on Mt Pleasant near Shamrock Business Center and is managed by Michael Haugh. I stopped in on 1-dec-09 and got a price list.

alarm system monitoring

Monitronics is one of the largest, fastest-growing alarm monitoring companies in the U.S. Headquartered in Dallas, the company provides nationwide security system design, installation, and alarm monitoring services to more than 495,000 residential customers and commercial clients through its trusted network of independent, authorized dealers.

Monitronics, a member of the National Fire Protection Association (NFPA) and the National Burglar & Fire Alarm Association (NBFAA), is the largest independently owned security company in the U.S. and is the industry leader in Two-Way Interactive Audio Verification monitoring. Monitronics’ state-of-the-art, UL-listed alarm monitoring central station meets or exceeds all UL and NFPA standards

"contact ID" is the name of the signaling standard that a guy at nextalarm.com said that our system at Shamrock needed to use in order for them to be able to monitor Shamrock.

4.3 acres on hwy 305 (cockrum) in OB

at corner of Coroma (I think). Agent is Amy Woods (485-7005) with Crye-Leike and she said price is $3 million which is $16 per foot. It is zoned C2.

Art in Memphis

Art under a hot tin roof - 117 S Main
Marshall Arts

National debt is about $11.9 trillion now

From Sarah Palin article:
National debt is about $11.9 trillion now.
US uses about 19.5 million barrels of oil per day. We produce domestically about 4.95 million barrels per day..
1-april-10 US GDP is about $14.2 trillion, so debt is about 84% of GDP. 

From Gusher of Lies:
US uses about 21 million barrels of oil per day.
Saudi Arabia produces 11 million barrels of oil per day which is 13% of world output.
US Strategic Petroleum reserve has around 700 million barrels in it which is enough to run US for more than a month. The number one supplier of oil to US is Canada. Number 2 is Mexico.
Average US home is 2349 sq ft and uses 10,656 KW hours per year.

4 mini storage facilities in Covington and Brighton

Trey Hayden (901) 485-1369. Trey is with Crye-Leike commercial. I met him at RLI meeting 30-sep-09 at MAAR. All 4 minis have a total of 129,134 sq ft and the price for all 4 is $5,900,000. That's $45.69 per foot.

2640 Kirby Whitten

Old oil change / brake repair building. Listed by Charlie Oates (763-2050) and owned by Cadence bank according to Leatherwood site. 1600 sq ft on ground floor and 1100 sq ft underneath in basement. Asking price is $185,000 which is $115.63 per ground floor foot. Site has a total of .78 acres. Charlie thought you could lease the building for $2000 per month, but that sounds high to me.

Wile-E-Coyote?

from market-ticker.org

Posted by Karl Denninger in Macro Economics

Is It Time To Recognize Reality?

Or must we go entirely off the cliff and play Wile-E-Coyote?

Yes, I know, we "came back from the brink." Or did we?

Let's look at a few facts:

The Fed is literally the entire mortgage market. Yes, really. As Chris Martenson points out (correctly) we have issued roughly $685 billion in new mortgages through August, while The Fed has bought $722 billion of mortgage paper and GSE debt (I argue illegally, and have for months) with printed money. That is, they are the market - not a part of the market. But reality is much worse - there is no market when a central bank simply buys with printed money, intentionally overpaying. After all it's not their money, right? (On the contrary, it's yours they're spending - without your consent! Must be nice eh?)

Fannie announced a change in lending policies today, effectively tightening mortgage credit. The "new criteria" will get rid of the 50%+ DTIs they used to allow and demand a 620 FICO. This is still massively below anything that can be considered "prudent"; the average FICO is reported to be 680. But Fannie has found that FICOs under 620 are in fact defaulting at a rate nine times higher than those with a higher score (!) Nine times is 900% - that's bad, right? They didn't release the percentage of loans that they had bought with the lower scores - so we don't know how ugly their book is - but remember, The Fed effectively owns all of their current-year issuance. This could end very badly for them - and us.

We claim that we're "helping homeowners" yet a recently-run study by Amherst (on Bloomberg this morning) shows that missing just one payment on your house places the probability of eventual default at 75%. Miss two and the probability is 95%. Any loan against which there is a "reasonable likelihood" of default must be reserved against according to GAAP (and just plain common sense) according to its probability of loss and recovery value. Yet most banks don't even consider an account "late" until it reaches 120 days behind! This is outrageously optimistic and is well beyond the threshold of intentional fraud if those numbers from Amherst prove up (and I suspect they do; consider that if you miss a payment you must make two at once to catch up!) Banks are willfully hiding probable losses on these loans for the simple reason that were they to reserve against them they would be instantly recognized as bankrupt. The fact of the matter is that they are bankrupt and our so-called 'regulators' are looking the other way rather than recognize massive control and accounting fraud.

The Fed has run monetary policy on a "Ponzi" basis for nearly three decades; in only one year out of 28 has their "monetary policy" resulted in improving rather than degrading credit stability1. This is a mathematical fact. We have become inebriated with excessive credit consumption throughout society, including the private and government sectors. This in turn has led government regulators to willfully and intentionally ignore the foundational principle of sound banking: one must never lend more unsecured than one has in excess capital and willfully stick their heads in the sand as credit growth has exceeded GDP expansion. In addition the government has "cooked" both GDP and inflation indices ("CPI") as a means of further justifying bankrupt policies by distorting reported economic statistics.

We ask "where did the credit go" repeatedly as consumer leverage has risen but personal consumption has risen at a slower rate. There is in fact no mystery: production was offshored to China, India and Vietnam (among others) and replaced with lower-wage "service" jobs. We have used credit as a means of masking our falling real standard of living by engaging in serial Ponzi Finance - first with the Internet Bubble and now with the Housing Bubble. But the Internet Bubble was small potatoes compared to the Housing Bubble, and we've run out of "bigger bubbles" we can blow to take the Housing Bubble's place. As defaults mount the facts are exposed whether we want them to be or not: our earnings power has been severely damaged as a whole by the intentional off-shoring of high-quality jobs and the importation of lower-quality (and lower-wage) workers into the US and we have tried to make up for the deficiency through borrowing. But borrowed money has to be paid back - and we can't make the payments.

Every nation that has ignored the foundational principles of sound banking and credit for a sufficient period of time has suffered either severe economic depression or monetary collapse. There are no exceptions. The United States and other western nations suffered ugly Depressions in the 1870s and 1930s. Weimar Germany, Zimbabwe, Argentina and others suffered monetary collapses. Going further back Tulip Mania and the Fall of Rome were both caused by monstrous mis-allocation of credit leading to hyperinflation in assets, the monetary supply, or both. The cause of these collapses and depressions is mathematics, not political. It can no more be avoided given improper banking and credit policy than can perpetual motion be achieved.

A "mere" 7% growth rate - what many economists would call "robust" economic expansion - causes the amount of whatever is being grown (or consumed) to double every 10 years. Each doubling in fact consumes (or grows) more than all of the previous time ever in history put together! Jimmy Carter lost his re-election bid in no small part because he had the audacity to make the (true) statement that this was impossible to continue into the indefinite future in regards to energy consumption. It is equally impossible to continue this into the indefinite future when it comes to GDP or, for that matter, credit.

Two functions of growth, where one is greater than the other, will always eventually run away from one another and, where the larger is dependent on the smaller to be able to be sustained, collapse becomes inevitable2. This is an extension of the above point. In economic terms if credit expansion exceeds real output expansion (since output is necessary to pay the servicing costs of credit of course) collapse of the system is inevitable, with the only variable being the amount of time that elapses before the collapse occurs.

Ok, so given all of these facts what can we do about it?

We can force improperly-granted credit - that is, credit granted to those who can't pay, to be recognized as bad debt and defaulted. This will result in the bankruptcy of lenders who imprudently made loans, but it also will result in the clearance of that bad debt from the system.

We can force lending going forward to take place such that all unsecured lending must be made only against excess capital on a dollar-for-dollar basis. This provides an immutable counter-cyclical check and balance on lending and leverage. If a bank wishes to grant someone a 100% LTV mortgage, they can - but since real estate fees and closing costs average 8%, they must at closing have 8% of the value of the loan in segregated cash reserves! If the loan is for 92% or less of the current value they need no immediate cash reserves. There remains the risk of asset valuation declines, of course, which could force the immediate sale or capital raising requirement; as such most institutions would choose to build in some sort of "cushion" against that contingency by requiring a larger down payment. Credit card loans would carry a high interest rate (as they do now) and be limited in line size since they would require 100% reserves (being entirely unsecured); auto loans would likewise have a sizable down payment requirement since new automobiles depreciate markedly upon delivery.

We can demand that system liquidity (and thus interest rates) be set no lower than that which holds the "Ponzi Finance Indicator"1 to a slight positive bias with automatic (per statute) corrections made should the ratio fall negative. This will cause rates to be sufficiently high so that "ponzi finance" (that is, debt taken to finance consumption) is never a large enough percentage of the whole as to imperil the stability of the monetary system. We must also demand and insist upon accurate reporting of GDP and inflation statistics, of course; both of these computations need to have the built-in "adjustments" that currently distort their results removed.

We have but two choices: we can accept the mathematical reality of compound growth rates and our attempt to cheat math through fraud or we can plunge off the cliff of history, as every other government and economy that has willfully ignored these mathematical realities has done.

Credit demand has effectively collapsed in The United States3 as we have reached the limit of debt service given the degradation of earnings power in the American People along with grossly-imprudent credit expansion. Further attempts to "stimulate the economy" via yet more credit creation cannot succeed, as we have reached the limit of the geometric progression of both credit and output in terms of sustainable debt service.

Attempting to hide credit deterioration will only cause the inevitable contraction of both to be more violent and disorderly.

It is mathematically impossible to prevent the outcome that now faces us; we are choosing only between the violence with which it comes and whether we have control over the process, or whether it will inevitably jump any "fire lines" we try to establish and potentially consume not only many private businesses and individuals but the government itself.

It is time to choose wisely; we face not a matter of politics or "pie in the sky" economics as practiced by ivory-tower academics, but rather the cold, hard mathematical realities that are inviolate and impersonal - the mathematical realities that control our destiny.

from market-ticker.org
Posted by Karl Denninger in Macro Economics

Dr Jeff Lowrey - Methodist minor medical

24-sep-09 (thurs) Took Margie to Methodist minor medical at 8071 Winchester for hurt right knee. Doc Jeff Lowrey prescribed Ultrim or something like that for pain and Margie asked for something stronger and he came back with Lortab. She requested percaset and he got huffy but said OK.

Prescription was for very small dose (1.5 to 2.5 milligrams or something like that) and was un fillable because no pharmacy carries it that small. Went back to doctor and nurse said for pharmacy to call doctor back. Went back to Walgreens and they called doctor but could not alter prescription so we had to go back to Methodist minor medical again to get new prescription for higher dose.

desotoms.com

desotoms.com is site that shows register information for desoto county ms like tome leatherwood site in shelby county tn.

Go to GIS section to see map.

Mini Storage parking info

Boat/RV storage presentation. Speaker was Caesar Wright of Mako Steel. From MP3 recording I downloaded from MiniCo.

Outdoor parking spaces are typically 11 feet wide - we used to make them 12 feet wide

Spaces are angled at 60 degrees to make them easy to turn into.

The industry standard for covered spaces is 14 feet clear.

The street between the spaces should be 32 feet wide, but he said that was debated in the industry.

In fully enclosed (inside) RV spaces, industry standard bay width is 14 feet. Street width between fully enclosed spaces should be 55 feet, but that is debated in the industry. I guess it has to be wider than the streets between outdoor spaces because the inside spaces are not angled at 60 degrees, they are 90 degrees, so the RV driver has to make a full 90 degree turn to get into unit. So if you build outdoor spaces at 90 degrees, then perhaps the streets should be wider.....
Eave height for fully enclosed spaces should be 16 feet, which allows for a 14 foot clear rollup door.

He discussed some fancy fully enclosed parking units in California have 71 foot wide streets between them!! And electrical power inside so RV owners can hook up their RVs to power, automatic electric openers on the overhead doors, and fire sprinklers.

land at Collierville Arlington and Harpers Ferry

4.5 acres. Agent is Jerry Hewlett (485-7051) at Coldwell Banker. This is across from 9 acre shopping center land that has John Heeren as agent.

Price is $395,000 or about $2 per foot

size 4.5 acres

zoning is R3 which is pretty high density residential. Jerry said offer to buy could be made contingent on getting new zoning.

9 acres on Collierville Arlington at Tara Oaks Cove

John Heeren (327-7676 office 619-2299 cell johnhe@smpo.com) is agent. His company is SMPO. Land is zoned SCC for shopping center. John has several tenants interested in going into a center at that site. Fred's ? Super D? Grocery of some sort. He didn't know if a mini storage could be put there. He works with a guy named steve steinbach (606-8920) who is a planner and is in good with collierville officials and process. His company is Land Development Solutions. John said to ask him if a mini might get approved there.

Price for 9 acres is $1.5 million or about $3.80 per foot. They were asking $6.25 per foot but owner is 80 years old and wants to sell.

John said a bank bought a one acre parcel at the SW corner of this property, but they might want to sell now since their deal is on hold.

1048 W Poplar - Collierville - old car dealership

Edward Saig (526-3100) - 8.49 acres on North side of Poplar. Used to be car dealership. zoned general commercial. There is approx 400 feet of frontage on Poplar. Eddie Saig said price was $5,350,000 or $14.47 per foot. Eddie said he thought a good use for the property would be a Sam's Wholesale Club.

Extra Space Storage - 2855 N Houston Levee

This is just South of Highway 64 on West side of Houston Levee
10 x 10 ncc $88
10 x 10 cc $90

10 x 15 ncc $108
10 x 15 cc $122

Lease up time - mini storage

How to Invest in Self-Storage
By Scott Duffy, R. K. Kliebenstein

A new self storage facility will typically lease up at an average rate of 1,000 to 2,500 square feet per month. Thus, these facilities usually take longer to reach full occupancy than apartment buildings and other property types

Extra Space Storage - 2010 W Poplar Collierville

Called about outdoor parking spaces 16-July-09. Girl at national call center said they had the following:

8 x 20
8 x 30 $73 per month
8 x 40 $100 per month

I'm not sure I believe that the spaces are really 8 feet wide, but that's what she said.

Extra Space Storage
2010 W Poplar Ave, Collierville, TN
901-853-6002

National Security and Trust

safety deposit box place at Eastgate Shopping Center

Rate of return analysis

You should not include principal repayment when calculating rate of return because that money is being paid out of the money that was given to you by the lender. If you could pay the lender a tiny slice of the building each month instead of principal repay, then at the end of the loan your building would be completely gone. But you would have had a much better cashflow for all of the years of the loan. So consider principal repay the equivalent of giving back a little of the building each month, but since you can't actually do that, you have to pay money. But that money should not be included in expenses because you are getting to keep a tiny slice of the building each month that was not yours before.

Knox Painting Building - Olive Branch

For sale by Jessica Brown (210-3474) at Remax (853-3430). Talked to Teresa who is Jessica's assistant. approx 24,000 total sq ft. 11, 400 office space. Rest (12,600) is warehouse.
realestateinthemidsouth.com. On old 78 near bypass.

Jessica said list price is $994,000 or $41.42 per foot. She said the rent each month is $13,000. I guess she means that that is the amount of rent being currently collected by the owner each month. But one of the tenants may be the owner, so that may be a guesstimate of what you could collect.

IRR formula

From google answers, I got the following formula:

0 = -1000 + 10/(1+i) + 10/(1+i)^2 + ... + 10/(1+i)^11 + 1010/(1+i)^12

So $1000 invested at time zero (which will be a negative amount) will exactly offset the streams of income (which will be positive) that you get in future years when you have guessed the correct IRR. Remember that you have to include the principal being returned in the last year.

Below is the calculation for $1000 invested for three years with the principal coming back at the end of the 3 years.

0 = -1000 + 10/(1+.01) + 10/(1+.01)^2 + 1010/(1+.01)^3
0 = -1000 + 9.9 + 9.80 + 980.30
0 = -1000 + 1000

1% makes the equation balance, so 1% is the IRR of this investment.

Shops of Ann Adler

4966 Poplar. 4320 sq ft. Gary Shanks says leases for $15 NNN. Owner asks for $4500 per month rent plus around $900 for taxes and insurance, so tenant pays a total of $5400 gross per month.

I met Gary at site 18-June-09. He is with Shopping Center group.

Owner is asking $650,000 for sale. He will owner finance at 7% for 15 to 20 years.

U-Store-It 3686 Old Germantown rd

Price list I got at U-Store-It office from manager Tim McCarthy.

Went to Southwind Storage (right next to Cotton Plant - owned by Jack Johnson) 7279 WInchester and talked to manager Loretta and she had
10 x 10 ncc $80 10 x 10 cc $110

Ann called Southwind Storage 17-July-09 and got outdoor parking prices:

12 x 30 $61
12 x 37 $68
12 x 40 $72 <-- this is not a standard size. Manager could make one though.

Collierville houses

459 Center - For Sale List price $139,900 (Nancy

Toms agent at John Green) 3 bed 2 bath

526 Center - for lease - $900 per month (would take $850) 1 bath 2 bedroom I think. Margie talked to John Green about this house. 1016 sq ft according to zillow.com.

gift tax rules

Annual exclusion is $13,000 in 2009.
Lifetime exclusion is $1 million in 2009.
Estate tax exclusion is $3.5 million in 2009.
So if you give one person more than $13,000 in a single year, then the amount over the $13,000 goes against your $1 million lifetime exclusion.

Your lifetime exclusion goes against your estate tax exclusion. So if you have used up say $500,000 of your lifetime exclusion before you die, then at your death, you have only a $3 million estate tax exclusion, not $3.5 million.

From www.fairmark.com/begin/gifts.htm:
Most people don't have to worry about this tax because it generally doesn't apply until you make gifts exceeding annual exclusion amount to one person within a single year. And there are other exclusions that often prevent the gift tax from applying. There is an unlimited exclusion for gifts to your spouse. (An annual limit applies if your spouse is not a U.S. citizen.) And there's an unlimited exclusion for the payment of medical expenses or educational costs, provided you make these payments directly to the service provider or educational institution.

Corner of 178 and Magnolia in OB

Owner is Mavin Gilmer. It is zoned M1 industrial. Marvin's office is in the 18,000 sq ft bldg that is on the site. The property is roughly a square I think. He did not really give an asking price but said that an agent told him six years ago it was worth $1 million. That would be about $3.70 per foot. This is the SE corner of the intersection.

4965 Black - Gary Myers

Small retail bldg which faces North. Gary Myers (761-5595) says owner does not want to sell. It is 3000 sq ft and leases for $4250 per month. That's $17 per foot. Gary says the lease will be a NNN lease but the price including taxes, insurance, and maintenance will end up being the $4250 figure above. So that is a gross figure. This bldg is right behind Mr. Pride Car wash on poplar.

621 Mendenhall behind Belmont Grill

Small Retail bldg that faces east on west side of Mendenhall. Joe Jarratt (682-7606) of Ford Jarratt Realty is agent. It is for lease not for sale. The rental rate is $17 per foot NNN. It is 2800 sq ft

2 story office bldg - 195 S. Center Street

In Collierville. Agent is Cathy Anderson (282-6312). 4884 sq ft. Asking price is $425,000 or $87 per foot. Office is set up for more than one tenant. Possibly one or two or three tenants upstairs and probably one tenant downstairs.

Cathy showed me this property back in probably March 2009.

4 corners gas station in Oxford Ms

Asking price is $1.9 million. Site is 24,000 sq ft. Scott Coleman 662-832-5442. Keller Williams. Scott says he's been offered $6500 per month to lease the site and could probably get more like $7000. Old closed Citgo gas station is there now.

Metal bldg at Poplar and 385

In Piperton next to metal bldg that is for sale by John Waddell. This is also next to land for sale by Bill Baker. 1 acre. Bldg is 10,000 sq ft of which perhaps 1500 to 2000 is office. Asking $700,000 which is $70 per foot. Contact number is 569-0901. Guy I talked to said he has a bldg on Distribution pkwy which he will move into when this bldg sells.

Trezevant bldg at 615 W Poplar in Collierville

On south side of Poplar across from Papa John's Pizza. Sign says bldg is 25,000 sq ft but floorplan emailed to me by David Frazier (753-5900) says it has about 20,000 sq ft plus attic and outside storage. Price is $2.2 million which at 20,000 ft is $110 per foot. Site is 2.2 acres.

1.16 acres on 64 next to Sonic

Justin Lubin (507-3428) of Makowsky Ringel Greenburg is agent. This land is in front of 4.07 acres that Jeff Jenkins at Renaissance has next to Walmart. Price is $12 per foot. It has 130 feet of frotage on 64 and is 348 feet deep.

Holmes & Hacks Cross corner - Monte Robinson

Approx 1.25 acres at NW corner of Holmes and Hacks Cross. Seller is motivated and will finance. Price is $550,000 or $10.18 per foot. Monte (Monty) said that price used to be $14 per foot. Michael Lightman has land at SE corner of same intersection.

5.89 acres south side 64 - Billy Groom

Billy Groom (461-5445 cell or 380-4418) said it was commercial zoned. He will email or fax plat. Groom Construction has lots of little signs on property. Price is $1.9 million which is $7.4 per foot.
This is on east side of Oakland.

Land on south side across from Dollar General

Guy I talked to was driving and will call me back with price and can fax plat. I thought he said $4 per foot. Has 500 feet or so of frontage on 64. about 5 acres commercial. 218-7777. East side of Oakland.

5.9 acres at 64 and Beau Tisdale

On South side. Zoned commercial. Talked to son or nephew of owner and he will call me back with price. 362-8730 is phone number. This is east of main part of Oakland.

Oakland - 3.835 acres on N side HWY 64 Lloyd Wilson

262 feet of frontage. Lot is deeper than it is wide so Lloyd suggested turning buildings perpendicular to HWY 64. He suggested retail or medical office for this site. It is zoned B2.

Price is $2.6 million which is $15.56 per foot.

This is right across 64 from 4.07 acres that Jeff Jenkins has next to Walmart.
Lloyd Wilson 240-8471.

Oakland - 4.07 acres adjoining Wal Mart

Owned by Johnny Red Myrick (270-9476). He is in with Renaissance Realty somehow. He is asking $2 million for 4.07 acres which is $11.28 per foot. He said mini storage would be good or retail. He said that the 1.16 acres (Justin Lubin - Makowsky Ringel Greenberg) that adjoins his property and that fronts 64 is priced at around $13.50 per foot. It is owed by "Soulberg".

Jeff Jenkins (581-5333) at Renaissance originally told me about this property.

Silver's new home

Margie sold Silver the dog to some people down in Mississippi at the end of April 2009. Their address is:

Tom & Martha Croswell
10940 HWY 482
Philadelphia MS 39350

Tom's email address is apparently tom_809@msn.com

restaurant bldg - 144 Highway 72 collierville

Restaurant bldg for sale that used to be Los Compadres mexican restaurant. Agent is Nancy Thompson (292-9180 cell). She is with Crye-Leike commercial. Restaurant is approx 2372 sq ft and seats 90 people. Asking price is $347,750 which is about $146.60 per foot. New floors new roof, 2 bathrooms. Zoned GC. On same tax parcel with Sunset Inn but will divide when it sells. The entire parcel is about 2.2 acres. Mexican restaurant was paying $3800 per month.

Oakland land

On East side of Oakland - 9.42 acres on north side of 64 zoned B1 according to owner Steve (Effers ??) (901-371-8781). He did not have a price exactly but said that he had quoted $6 per foot to the last guy who had asked about buying the whole thing. Steve also has 3 acres next to 9.42 acres, but I don't know whether east or west.

2.45 acres (195 x 521) at corner of 64 and Mack Edwards. Zoned commercial. Price is $7 per foot. Mike 870-0387. Number on sign 870-1886.

69+ acres at 64 and Donelson on North side on West side of Oakland. Talked to Will Bowling (237-2606). Fayette Realty 465-6560. Price is $1.9 million for whole thing. That's about $27,536 per acre. 13 acres of the 69 is on corner and is zoned commercial. Will said that commercial proeprty recently sold across the street (Donelson??) for $35,000 per acre.

Jeff Jenkins (office 758-2728 cell 581-5333) of Renaissance Realty had nice looking strip center on North side of 64 before you get to Hickory Withe. He has commercial property on south side of 64 on west side of Oakland. Property is on top of hill just west of Fred's and Olympic steakhouse. This property is not really for sale. Home Depot was looking at it before economic downturn. It is 30 or 40 acres with probably 1000 feet of frontage on 64. Jeff said he has 4 acres for sale for $8 per foot with a 50 foot wide access to 64. This piece is between Sonic and Autozone.

A Alpha Self Storage on South side of 64 in Oakland. 465-8000. 10 x 10 $55 per month. 10 x 15 $75 per month. NOT climate controlled.

4.05 acres in Moscow TN

Mary Ann Tapp (cell 573-2832) has this land listed in Moscow. She said has 200 feet of frontage on highway 57 (Poplar) on South side. Zoned commercial. Price is $120,000. $29,630 per acre. She will send me a plot plan.

On North side of HWY 57 she has a lot that is 0.69 acres and is priced at $50,000

380 Industrial Park drive in Moscow

Jim Gannaway told me about this Metal commercial building in Moscow. 14,400 sq ft priced at $435,000. Across the street from Glassteel. $30.21 per foot. Owned by bank.

Jim thinks you might buy this building for down in the 300,000s rather than $435,000. He says you might lease it for $5 to $6 per foot. That sounds high to me.

raw land in Collierville

Fleming and Shelby - 42 acres for sale for $3.9 million Howard Parris 485-1085. several barns. No house. $92,857 per acre.

Fleming road south of shelby dr - 10 acres for $625,000. Monte (Monty) Robinson at Crye-Leike commercial 674-3395 cell.

Fleming and Holmes - 64 acres. Allen Green 412-2998. 12 acres on corner and additional 52 surrounding. $600,000 for 12 acres and $2.1 million for 52 acres.

Holmes and Byhalia - 98 acres on North side of Holmes. $5.9 million or $60,204 per acre. Richard Kelsey (office 853-2030 cell 268-6621). Possible neighborhood retail at corner of Holmes and Byhalia.

7239 Winchester paint color

Jackie is going to repaint 7239 Winchester with flat "Bone White" from Farrel- Calhoun. Insurance man Bill Brewer moved out of 7239 28-Feb-2009. Cotton Plant.

2-mar-09 I bought one gallon of color "Hunt Club" at Sherwin-Williams to paint AC compressors behind Cotton Plant to try to mark them so they can be identified if stolen. Hunt club is a dark green color.

1.99 acres zoned RI on Progress road

Kevin Vaughn (292-3210) has this land listed. It is approx 400 x 400. RI zoning is restricted industrial. He said that RI is what Shamrock is zoned also. Kevin will go before Collierville boards and present projects for developers. Kevin's website is townshipdev.com.

He said land on Progress south of 385 is restricted to tilt up wall construction by the developer of the subdivision.

116 Main - Collierville Town Square

Richard Kelsey (office 853-2030 cell 268-6621) manges this retail building. It is 1400 sq ft and he is asking $850 per month to lease it. It is not for sale. He says the building is not as nice as Bill Cox's building next door. It has some deferred maintenance. Richard also has some land in Arlington at 2550 Harrell road.

114 Main - Collierville Town Square

Retail building on East side of Collierville Town Square. Building is 1600 sq ft and rent is $1600 per month. Bill Cox 853-2264. Bill's office is in McGinnis Oil bldg on square. He is asking $275,000 which is approx $172 per foot.

384 Distribution Parkway

5000 sq ft building with more office than warehouse (3400 office and 1600 warehouse). Priced at $479,000 which is $95.80 per ft. I talked to W R (Wren) Freeman of Mcalister and Freeman 853-0911. They used to run several businesses out of this building but they are retiring. He said with reasonable usage the utilities run $300 to $400 per month. The space above office is storage space and there is a full stairway to access this storage space.

369 Distribution parkway

7200 sq ft building for sale for $695,000 ($96.53 per ft) by Sherry Harbur at Crye-Leike. 2350 sq ft office and 4850 warehouse. Next door to Brooks and Mazzola building at end of Distribution Parkway cove.

1.9 acres schilling farms - John Lichterman

1.9 acre lot in Schilling farms is priced at $540,000 which is $6.52 per foot. John Lichterman (680-7700) said it was zoned light industrial and you could do that or all office. He thought you could put at least a 25,000 building there. According to Xceligent, Joel Fulmer has space for $13.50 per foot in Schilling Farms.

Mt. Pleasant & Keough - metal building

Talked to Shirley Jamison about building. Husband and her ran feed manufacturing business there. 5000 sq ft on approx 1 acre lot ???

She is asking $2250 per month to rent building and does not really want to sell it but would take $450,000 for it. She was kind of iffy, but said that at the $2250 rental rate the tenant would pay for any expenses like plumbing or electrical repair but landlord would pay property taxes. So it's somewhat of a gross lease. 2 bathrooms. Last tenant was a heat and air guy.

Norman Brown - Wolf River Parkway

Norman Brown (850-9996 office 581-5977 cell) Has 8 acres on Wolf River pkwy down from 13.1 acres that Jim Gannaway has. Bray Station road will intersect WRP at that site. He did not tell me price but said Collierville will not allow retail at that site.

Norman said he has 5.7 acres on other side of WRP of which 3 acres is usable. You could put office there with 25 to 30% coverage and go two story if you wanted. It is $6 per foot for the 3 acres or $784,080 total. That would buy the whole 5.7 acres.

He has 3.5 acres zoned general commercial on Winchester at Byhalia with a daycare center about to close on west half so only a little more than 1.5 acres is left for possible office use. or commercial. It's $10 per foot. He has lots in Bumpus cove that are $14 to $20 per foot. They are more because of visiblity from 385 he said.