1620 Madison Ave., Memphis, TN 38104

1620 Madison Ave.
Memphis TN 38104
Sale Amount: $5.3 million

Sale Date: Oct. 24, 2014
Buyer: LAG Memphis LLC
Seller: Super Market Developers Inc.
Loan Amount: $3.9 million
Loan Date: Oct. 24, 2014
Lender: Ladder Capital Finance LLC
Details: The Cash Saver property on Madison Avenue in Midtown has been sold for $5.3 million.

Super Market Developers Inc., an affiliate of Associated Wholesale Grocers Inc., sold the grocery store at 1620 Madison Ave. to LAG Memphis LLC, which is affiliated with New York-based Ladder Capital Finance LLC, according to an Oct. 24 special warranty deed.

LAG Memphis LLC secured a $3.9 million loan for the purchase through Ladder Capital Finance LLC, according to a deed of trust filed the same day.

AWG acquired the property in December 2012 for $3.1 million. The 69,000-square-foot store sits on 5.3 acres on the northern side of Madison between Angelus and North Avalon streets in Midtown. The Shelby County Assessor of Property’s 2014 appraisal is $3.1 million.

The former Piggly Wiggly store was converted to a Cash Saver store several years ago and recently underwent a $1.7 million facelift. Operators of the Cash Saver store, which includes an extensive beer selection and wildly popular growler shop, signed a 20-year lease on the property last year.

710 S. Third St.
Memphis, TN 38103
Permit Amount: $2 million

Application Date: October 2014
Owner: Farrell-Calhoun Paint Inc.
Contractor: Environmental Construction Service Inc.
Details: Farrell-Calhoun Paint Inc. has applied for a $2 million building permit for its Downtown Memphis warehouse.

The family-owned, Memphis-based paint company applied for the building permit through the city-county Office of Construction Code Enforcement for its warehouse at 710 S. Third St. The application said the permit was needed for “modifications and renovation to existing warehouse.”

The nearly 100,000-square-foot building was built on 4.6 acres in 1948. The Shelby County Assessor of Property’s 2014 appraisal is $200,000.

7910 Winchester Road
Memphis, TN 38125
Sale Amount: $1.1 million

Sale Date: Oct. 24, 2014
Buyer: Southwind Veterinary Holdings LLC
Seller: Southwind Veterinary Partners GP
Loan Amount: $1.1 million
Loan Date: Oct. 24, 2014
Lender: First Tennessee Bank NA
Details: Southwind Animal Hospital, a veterinary clinic on Winchester Road in the Southwind area, has been sold for $1.1 million.

Southwind Veterinary Partners GP, which includes G. Noell Moseley, Barden A. Greenfield and Genie Hooker, sold the property at 7910 Winchester Road to Southwind Veterinary Holding LLC, according to an Oct. 24 deed of trust.

The sale was financed with a $1.1 million loan through First Tennessee Bank NA, according to an Oct. 24 deed of trust.

The 10,587-square-foot clinic on two acres was built in 1989, and the Shelby County Assessor’s 2014 appraisal is $955,100.

4861 Austin Peay Highway
Memphis, TN 38135
Sale Amount: $1.1 million

Sale Date: Oct. 22, 2014
Buyer: Roopani Properties LLC
Seller: Decatur Properties IV Inc.
Loan Amount: $1.2 million
Loan Date: Oct. 22, 2014
Maturity Date: November 2039
Lender: Fidelity Bank
Details: An Atlanta-based real estate investment firm has sold a local convenience store and gas station for $1.1 million.

Decatur Properties IV Inc. sold the gas station and store at 4861 Austin Peay Highway to Roopani Properties LLC, according to an Oct. 22 warranty deed. Roopani Properties secured a $1.2 million loan for the purchase through Fidelity Bank, according to a deed of trust filed the same day.

Built in 2006, the 4,080-square-foot store sits on 4.6 acres on Austin Peay just south of Old Brownsville Road. The Shelby County Assessor’s 2014 appraisal is $713,100.

2246 N. Germantown Parkway
Memphis, TN 38016
Sale Amount: $485,000

Sale Date: Oct. 28, 2014
Buyer: BAL Gopal LLC
Seller: GATA LLC and FTBD LLC
Details: A rare vacant outparcel on busy Germantown Parkway in Cordova has been sold for $485,000.

GATA LLC and FTBD LLC sold the lot to BAL Gopal LLC, according to an Oct. 28 warranty deed. John H. Lamberson Jr. is listed in the deed as the sole member of FTBD LLC.

The 1.1-acre site is located on Germantown Parkway between Rockcreek Parkway and Chimney Rock Boulevard. The Shelby County Assessor’s 2014 appraisal is $338,500.