Downtown Memphis Condo For
For Sale
Contact for pricing
107 S Ct Ave, Memphis, TN 38103
Spacious 2-bedroom, 2-bath condo in the heart of Memphis.
Property Size1,527 SF
Price / SF$147.35
Days on Market166
Property Features for 107 S Ct Ave
General Information
Standard status
Active
Size
1,527 SF
Class
A
Property subtype
Business for Sale
Zoning
Condo/Townhouse/Apt.
Investment Type
Stabilized
Net Operating Income
$32,263
Building Details
Units
1
Listing Agency:
eXp Realty, LLC
(901) 325-1164
Listed By:
Jordan Ray · License #375004
Source:
Crexi
Added: Mar 9
Changed: Aug 8
Last Checked: Aug 20 at 4:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty, LLC
Investment Insights
Based on property information with market context.
Located in downtown Memphis, this condo features 2 bedrooms and 2 bathrooms within 1,527 square feet. The property benefits from natural light provided by a skylight. Situated within walking distance of Beale Street, AutoZone Park, and the Fire Museum of Memphis, the location offers convenient access to local attractions. The property is move-in ready and is being sold as-is. It is suitable for first-time buyers, investors, or those seeking a residence in an urban environment. The property is advertised as a short-term rental and residential income property.
Key Highlights
- Prime downtown Memphis location within walking distance of Beale Street, AutoZone Park, and the Fire Museum.
- Spacious 2‑bedroom, 2‑bath condo with 1,527 square feet.
- Move‑in ready condition, ideal for immediate occupancy.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,402
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$228,040
$228.0K
Cap Rate 7%
$162,886
$162.9K
Cap Rate 9%
$126,689
$126.7K
Market Conditions
NOI Build-Up for 1,527 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.2K $14.52/SF
− Vacancy
−$1.4K −$0.94/SF
EGI
$20.7K $13.58/SF
− OpEx
−$9.3K −$6.11/SF
NOI
$11.4K $7.47/SF
Area
Memphis, TN
Vacancy
6.50%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$228,040
Cap Rate 7%
$162,886
Cap Rate 9%
$126,689
Alternative Uses
Best Use
Apartment 5plus
$162.9K
$142.5K – $190.0K
NOI $11,402 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$451.3K
$394.9K – $526.5K
NOI $31,591 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,789
Businesses Nearby
Explore this area
Business Placement
Demographics for 38103, TN
14,739
Population
8,811
Households
1.7
Avg Household Size
35
Median Age
61%
College-Educated
95%
High-School Grad
2.7 sq mi
ZIP Area
5,459
Density / Sq Mi
$75,763
Median Household Income
$60,918
Median Earnings
$1,575
Median Rent
$380,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Spacious 2-bedroom, 2-bath condo in the heart of Memphis.
Where is this short term rental property located?
The property is located at 107 S Ct Ave Memphis, TN.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Prime downtown Memphis location within walking distance of Beale Street, AutoZone Park, and the Fire Museum.; Spacious 2‑bedroom, 2‑bath condo with 1,527 square feet.; Move‑in ready condition, ideal for immediate occupancy.
