Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1493 Gaither St Memphis, TN 38106

    View on Map
    Sponsored
    For Sale
    $275,000

    Fourplex - Memphis, TN

    Days on Market:
    9
    Last Refresh:
    Mar 28 at 1:06 am

    Property Features for 1493 Gaither St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active

    Building Details

    Year built
    1970
    Architectural style
    Other

    We can help!

    Listing Contact
    Garth Ward

    eXp Realty LLC

    Listing agent Garth Ward

    Listing date Mar 20, 2026

    MLS# 10217289 Listing URL

    Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Updated Fourplex Next to Park

    This refreshed fourplex is located next to a park, offering lifestyle appeal and investment potential. The property has been recently updated with new flooring, fresh paint, and a clean, modernized feel throughout. Each unit is move-in ready and primed for increased rents. Prior to renovations, units averaged just under $800 per month, leaving upside for improved returns. Tenants will enjoy immediate access to green space, adding desirability and long-term retention value. This property combines location, updates, and income potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0315019
    Latitude
    35.1059931

    Nearby Similar for Sale

    • New
      $699,000
      7,868 SF

      Memphis Commercial Space on Lamar

      High-traffic commercial space suitable for restaurant, retail, or entertainment.
      2802 Lamar Ave, Memphis, TN 38114
      View Details
    • $995,000

      Turnkey Restaurant and Bar Opportunity

      Fully equipped restaurant and bar in Memphis's South Main district.
      124 E Ge Patterson Ave E PATTERSON, Memphis, TN 38103
      View Details
    • $475,000
      3,600 SF

      Lamar Avenue Corner Lot Opportunity

      3600 SF commercial space near I-240 and major highways.
      3880 Lamar Ave, Memphis, TN 38118
      View Details
    • $400,000
      52,180 SF

      Frayser Boulevard Commercial Opportunity

      Spacious 52,180 SF commercial property in Memphis' Frayser neighborhood.
      2285 Frayser Blvd, Memphis, TN 38127
      View Details
    • $500,000
      2,460 SF

      Turnkey Restaurant Opportunity on Southern

      Restaurant for sale or lease in high-traffic Memphis location.
      3573 Southern Ave, Memphis, TN 38111
      View Details
    • $1,600,000
      13,455 SF

      Memphis Light Industrial/Manufacturing Opportunity

      Versatile flex/warehouse space with office, convenient location, and dual power.
      6735 Whitten Rd, Memphis, TN 38133
      View Details
    • $399,900

      Established Restaurant with Outdoor Seating

      Turnkey restaurant with equipment, parking, and outdoor patio.
      733 Chelsea Ave, Memphis, TN 38107
      View Details
    • New
      $450,000
      1.00 Acre

      Established Daycare Facility on Acreage

      Turnkey daycare opportunity with capacity for 66 children.
      1731 E Raines Rd, Memphis, TN 38116
      View Details
    • Contact for pricing
      3,350 SF

      Memphis Commercial Office and Medical Building

      Office and medical building with suites available for lease.
      5158 Stage Ave, Memphis, TN 38134
      View Details
    • New
      $475,000

      Established Education Centers For Sale

      Two well-established early education centers with furniture and playground equipment.
      1408 Gaither St, Memphis, TN 38106
      View Details
    • $400,000

      Turnkey Memphis Commercial Building For Sale

      Established commercial building with equipment, inventory, and delivery vans included.
      3369 Macon Rd, Memphis, TN 38122
      View Details
    • New
      $2,250,000
      11,114 SF

      Memphis Landmark Event Venue

      Historic Memphis castle, renovated for events or private living.
      1397 Central Ave, Memphis, TN 38104
      View Details

    FAQs

    What type of property is this?
    Quadplex - Refreshed 4-plex with investment potential near park in Memphis.
    Where is this quadplex located?
    The property is located at 1493 Gaither St Memphis, TN.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: - Prime location directly next to a park, offering immediate access to green space.; - Recently updated with new flooring and fresh paint, providing a modernized feel throughout.; - Move-in ready units, minimizing immediate expenses.
    (253) 737-8018
    Request Owner's contact information
    1493 Gaither St Memphis, TN 38106
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1493 Gaither St
    Memphis, TN 38106
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1493 Gaither St Memphis, TN 38106
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Garth Ward
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!