Class A Office
For Sale
Contact for pricing
6634 Summer Knoll Cir, Memphis, TN 38134
Shell-condition office property suited to medical or general office layouts, with on-site parking and access to two highways.
Property Size4,500 SF
Price / SF$221.11
Days on Market528
Property Features for 6634 Summer Knoll Cir
General Information
Standard status
Active
Size
4,500 SF
Class
A
Total Parking Spaces
24
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Building Details
Construction
Frame/brick
Listing Agency:
Colliers | Memphis
(901) 634-2583
Listed By:
Elliot Embry
(901) 634-2583
Source:
Moodyscre
Added: Mar 21, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:00AM
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 Colliers | Memphis
Investment Insights
Based on property information with market context.
This 4,500-square-foot Class A office building is offered in build-to-suit shell condition, allowing the interior to be configured for medical or general office use. Frame and brick construction provide the building’s primary exterior materials, while the shell presentation supports a tailored finish-out strategy.
The property is located in the Northeast Memphis submarket at 6634 Summer Knoll Cir in Memphis, Tennessee. Access to Hwy. 70 and Hwy. 64 supports connectivity across the surrounding area. On-site parking includes 24 spaces, providing dedicated parking for occupants and visitors.
The property is located in the Northeast Memphis submarket at 6634 Summer Knoll Cir in Memphis, Tennessee. Access to Hwy. 70 and Hwy. 64 supports connectivity across the surrounding area. On-site parking includes 24 spaces, providing dedicated parking for occupants and visitors.
Key Highlights
- 4,500‑square‑foot Class A office building
- Build‑to‑suit shell condition supports customized interior planning
- Frame and brick construction
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
$68,850
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
6.92%
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%
$1,377,000
$1.4M
Cap Rate 7%
$983,571
$983.6K
Cap Rate 9%
$765,000
$765.0K
Market Conditions
NOI Build-Up for 4,500 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
$108.0K $24.00/SF
− Vacancy
−$16.2K −$3.60/SF
EGI
$91.8K $20.40/SF
− OpEx
−$23.0K −$5.10/SF
NOI
$68.9K $15.30/SF
Area
Memphis, TN
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,377,000
Cap Rate 7%
$983,571
Cap Rate 9%
$765,000
Alternative Uses
Best Use
Office B
$983.6K
$860.6K – $1.15M
NOI $68,850 @ 7.0% cap · market cap 6.92%
Second Best
Healthcare Medical
$931.7K
$815.3K – $1.09M
NOI $65,221 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,096 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
937
Businesses Nearby
Explore this area
Business Placement
Demographics for 38134, TN
41,760
Population
15,685
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
86%
High-School Grad
18.6 sq mi
ZIP Area
2,245
Density / Sq Mi
$61,172
Median Household Income
$39,185
Median Earnings
$1,147
Median Rent
$184,400
Median Home Value
Market
Vacancy Rate% for Office in Memphis, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Shell-condition office property suited to medical or general office layouts, with on-site parking and access to two highways.
Where is this office building located?
The property is located at 6634 Summer Knoll Cir Memphis, TN.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,500‑square‑foot Class A office building; Build‑to‑suit shell condition supports customized interior planning; Frame and brick construction
