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

    4501 S 3Rd St Memphis, TN 38109

    View on Map
    Sponsored
    For Sale
    $134,000

    Land - Memphis, TN

    Lot size:
    2.10 Acres
    Days on Market:
    23
    Last Refresh:
    Mar 15 at 6:06 pm

    Property Features for 4501 S 3Rd St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    CMU-3
    Lot size
    2.10 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jeffry Goff

    KELLER WILLIAMS® (901) 261-7900

    Listing agent Jeffry Goff (901) 261-7900

    Listing date Feb 20, 2026

    MLS# 10198754 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

    Prime Commercial Land Available

    This property features over 2 acres of land available in a prime commercial location in Memphis, TN. Zoned CMU-3, the land is suitable for constructing a new commercial building, making it ideal for both existing and future businesses. The property can be sold together with MLS #'s 10199306, 10199303, 10199305, and 10199299.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0834328
    Latitude
    35.0256708

    Nearby Similar for Sale

    • $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
    • $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
    • $795,000

      Memphis Commercial Space on Lamar

      High-traffic commercial space suitable for restaurant, retail, or entertainment.
      2802 Lamar Ave, Memphis, TN 38114
      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
    • $675,000

      Memphis Commercial Property For Sale

      High-traffic location near Nike and Amazon, suitable for various uses.
      2804 Frayser Blvd, Memphis, TN 38127
      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
    • Contact for pricing
      1,600 SF

      Germantown Office Space Available

      Office space for lease in Germantown, Tennessee.
      9056 Corporate Gardens Dr, Germantown, TN 38138
      View Details
    • New
      $74,900

      Affordable Memphis Office Space

      Well-located office space with owner financing in Memphis, TN.
      5507 Winchester Ave, Memphis, TN 38115
      View Details
    • $2,500,000
      11,114 SF

      Memphis Landmark Event Venue

      Historic Memphis castle, renovated for modern events or private living.
      1397 Central Ave, Memphis, TN 38104
      View Details
    • $330,000

      Commercial Property on Large Lot

      Commercial property with tenant income potential on over one acre.
      2453 Elvis Presley Blvd, Memphis, TN 38106
      View Details

    FAQs

    What type of property is this?
    Commercial land - Over 2 acres in a prime commercial location.
    Where is this commercial land located?
    The property is located at 4501 S 3Rd St Memphis, TN.
    What is the asking price?
    The asking price for this property is $134,000.
    What are key features of this property?
    This property features: - Over 2 acres of land available; - Prime commercial location; - Suitable for building a new commercial building
    (901) 261-7900
    Request Owner's contact information
    4501 S 3Rd St Memphis, TN 38109
    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.
    4501 S 3Rd St
    Memphis, TN 38109
    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
    4501 S 3Rd St Memphis, TN 38109
    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
    Jeffry Goff
    (901) 261-7900
    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!