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    1500 N Boykin Drive Memphis, TX 79245

    View on Map
    For Sale
    $145,000

    COMMERCIAL - Memphis, TX

    Property size:
    7,650 SF
    Lot size:
    0.65 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    24
    Last Refresh:
    Apr 8 at 2:06 am

    Property Features for 1500 N Boykin Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    Mayo Marrs Casing Pulling, LLC
    Size
    7,650 SF
    Lot size
    0.65 Acres

    Taxes and HOA fees

    Tax Description
    Tract 12, Section 20, Block 20, H & GN Ry. Co. Survey, Hall County, Texas.

    Utilities

    Cooling system
    Central Air

    Building Details

    Roof type
    Built-Up

    We can help!

    Listing Contact
    Chad Holland
    Chad Holland

    Listing agent Chad Holland License #0515680

    Listing office Chad Holland Real Estate PO Box 541, Childress, TX

    Listing date Mar 16, 2026

    MLS# 26-2230

    Copyright © 2026 Amarillo 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.

    Overview

    Highway Frontage Commercial Opportunity

    This commercial property in Memphis, Texas, offers high visibility and frontage along US Highway 287. Situated on approximately 0.6511 acres, the property includes a large building with an expansive asphalt parking area. The building has been used for various purposes, including retail, a professional training facility with offices and conference rooms, storage space, and a house of worship. Potential uses include a retail showroom, professional offices, training or educational center, medical or therapy services, church or ministry facility, community or event space, coworking offices, fitness studio, call center, or distribution and service business headquarters. The property is located in an area experiencing increasing economic activity due to regional energy development, AI and data center investment, and growth throughout the Texas Panhandle and Rolling Plains. The property is currently tenant-occupied on a month-to-month basis, with the tenant anticipating vacating by May 1, 2026. The location is within a designated Opportunity Zone, which may provide potential tax advantages for qualifying investors. The building size is 7,650 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Showrooms

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Hall
    State
    Texas
    Longitude
    -100.548318
    Latitude
    34.739636

    Nearby Similar for Sale

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    • $35,000
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      Downtown Memphis Commercial Building

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    • $295,000
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      Historic Hotel Requiring Total Restoration

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    FAQs

    What type of property is this?
    Showroom - Versatile commercial property on 0.65 acres with highway frontage.
    Where is this showroom located?
    The property is located at 1500 N Boykin Drive Memphis, TX.
    What is the asking price?
    The asking price for this property is $145,000.
    What are key features of this property?
    This property features: High visibility and frontage on US Highway 287; Versatile building suitable for retail, offices, training, storage, or other commercial uses; Located in an area with increasing economic activity due to energy development and data center investment
    (806) 205-0497
    We can help!
    Listing Contact
    Chad Holland
    Chad Holland
    Real Estate License ID: 0515680
    Learn More
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    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
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