15-Unit Apartment
New
For Sale
$1,066,000
1088 National St, Memphis, TN 38122
The unit mix includes two-bedroom apartments and a separate three-bedroom house, all with central heating and air conditioning.
Property Size10,304 SF
Price / SF$103.45
Days on Market2
Property Features for 1088 National St
General Information
Standard status
Active
Size
10,304 SF
Property subtype
Multi-Family
Units
Unit Mix
14 x 2BR, 1 x 3BR
Multifamily Units
15
Building Details
Year Built
1965
Listing Agency:
Crye-Leike, Inc., Realtors
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Oct 4
Last Checked: Oct 5 at 6:35PM
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 Crye-Leike, Inc., Realtors
Investment Insights
Based on property information with market context.
This 15-unit apartment property in Memphis contains 14 two-bedroom units and a separate three-bedroom single-family residence. Central heating and air conditioning serve every unit. The property measures 10,304 square feet and dates to 1965.
Located at 1088 National St, the property combines apartment units with a single-family residence on one site.
Located at 1088 National St, the property combines apartment units with a single-family residence on one site.
Key Highlights
- 15 units: 14 two‑bedroom units and one three‑bedroom single‑family residence
- 10,304 square feet
- Central heating and air conditioning in all units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,939
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,538,780
$1.5M
Cap Rate 7%
$1,099,129
$1.1M
Cap Rate 9%
$854,878
$854.9K
Market Conditions
NOI Build-Up for 10,304 SF
Gross rent
$149.6K $14.52/SF
− Vacancy
−$9.7K −$0.94/SF
EGI
$139.9K $13.58/SF
− OpEx
−$63.0K −$6.11/SF
NOI
$76.9K $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 Rate 5%
$1,538,780
Cap Rate 7%
$1,099,129
Cap Rate 9%
$854,878
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$961.7K – $1.28M
NOI $76,939 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.05M
$2.66M – $3.55M
NOI $213,169 @ 7.0% cap · market cap 20.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 38122, TN
26,432
Population
10,201
Households
2.6
Avg Household Size
33
Median Age
22%
College-Educated
74%
High-School Grad
6.8 sq mi
ZIP Area
3,887
Density / Sq Mi
$45,456
Median Household Income
$32,760
Median Earnings
$1,127
Median Rent
$108,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix includes two-bedroom apartments and a separate three-bedroom house, all with central heating and air conditioning.
Where is this apartment building located?
The property is located at 1088 National St Memphis, TN.
What is the asking price?
The asking price for this property is $1,066,000.
What are key features of this property?
This property features: 15 units: 14 two‑bedroom units and one three‑bedroom single‑family residence; 10,304 square feet; Central heating and air conditioning in all units
