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    Value-Add Office Park Investment Opportunity Title is generated by Realmo AI

    5405 Fox Plaza Dr, Memphis, TN 38115

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    Two-property office park in Memphis's active 385 Corridor submarket.

    Type:Office
    Property size:
    14,468 SF
    Added:
    Apr 11, 2026
    Days on Market:
    59
    Last Refresh:
    Apr 11 at 8:01 pm

    Property Features for 5405 Fox Plaza Dr

    General Information

    Standard status
    Active
    Size
    14,468 SF
    Property subtype
    Office

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Curtis Edgar

    Listing agent Curtis Edgar License #License(s): GA: 438778

    Listing office Atlanta Office

    Listing date Apr 11, 2026

    Source Marcusmillichap

    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 Atlanta Office

    HighLights

    • Value‑add opportunity through renovations and lease‑up in a high‑demand office market.
    • Located in the active 385 Corridor submarket with high traffic (140,677 AADT).
    • Proximity to Memphis International Airport and FedEx World Hub, a major economic driver.
    • High occupancy rate (90%) in the 385 Corridor office market with limited new construction.
    • Current ownership invested $100,000 in property improvements.
    • Opportunity for seamless transition with current management potentially staying on board.

    Overview

    Fox Plaza Office Park presents an opportunity to acquire a two-property office park investment in the 385 Corridor submarket of Memphis, Tennessee. The property is positioned as executive suites and leased to a diversified roll of small business owners. The 385 Corridor office market has a 90% occupancy rate. The location is near Memphis International Airport, home to FedEx World Hub, which generates over $10.7 billion in annual economic output and supports more than 67,000 jobs. A $700 million terminal modernization project for the airport is underway by the Turner Joint Venture. Situated minutes from State Route 385, with an AADT of 140,677, the location provides access and infrastructure for firms in supply chain management and logistics. The property offers the opportunity to create value through renovations and lease-up. The property size is 14468 square feet. Current ownership has invested $100,000 for property improvements and is open to staying on board in a management capacity for buyers looking to employ an “Executive Suites Business Model”.
    Location Intelligence

    Current Use by Public Records

    Geek Jim's Computer ... Computer & Electronic Repair Reliable Insourcing Services Employment Agency The Wax Lounge & Spa Spa & Massage Center Gifted Hands Financial Financial Advisor The Report Card Doctor ... Tutoring Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8831504
    Latitude
    35.0741682

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    FAQs

    What type of property is this?
    Office building - Two-property office park in Memphis's active 385 Corridor submarket.
    Where is this office building located?
    The property is located at 5405 Fox Plaza Dr Memphis, TN.
    What are key features of this property?
    This property features: Value‑add opportunity through renovations and lease‑up in a high‑demand office market.; Located in the active 385 Corridor submarket with high traffic (140,677 AADT).; Proximity to Memphis International Airport and FedEx World Hub, a major economic driver.
    (678) 808-2758
    We can help!
    Listing Contact
    Curtis Edgar
    Real Estate License ID: License(s): GA: 438778
    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.

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