Single-Story Office
For Sale
Contact for pricing
1384 Cordova Cv, Germantown, TN 38138
Single-story office building available for sale in Germantown, Tennessee.
Property Size3,350 SF
Price / SF$208.96
Days on Market67
Property Features for 1384 Cordova Cv
General Information
Standard status
Active
Size
3,350 SF
Class
B
Property subtype
Office
Zoning
Office
Building Details
Year Built
1989
Buildings
1
Stories
1
Units
3
Listing Agency:
McNeill Commercial Real Estate
Listed By:
Matt Layne · License #TN 365561
Source:
Crexi
Added: Jul 1
Changed: Aug 21
Last Checked: Sep 2 at 11:57AM
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 McNeill Commercial Real Estate
Investment Insights
Based on property information with market context.
This for-sale property is a single-story office building configured for office use. The building totals approximately 3,350 square feet, offering a compact footprint for an office operator or investor.
Located at 1384 Cordova Cv in Germantown, Tennessee, the property is presented as a rare opportunity to acquire a single-story office facility in the area.
The offering is strictly positioned as an office building sale, with the key disclosed attribute being its single-story configuration and overall size.
Located at 1384 Cordova Cv in Germantown, Tennessee, the property is presented as a rare opportunity to acquire a single-story office facility in the area.
The offering is strictly positioned as an office building sale, with the key disclosed attribute being its single-story configuration and overall size.
Key Highlights
- Single‑story office building for sale in Germantown, Tennessee
- Built in 1989
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
$51,255
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
7.32%
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%
$1,025,100
$1.0M
Cap Rate 7%
$732,214
$732.2K
Cap Rate 9%
$569,500
$569.5K
Market Conditions
NOI Build-Up for 3,350 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
$80.4K $24.00/SF
− Vacancy
−$12.1K −$3.60/SF
EGI
$68.3K $20.40/SF
− OpEx
−$17.1K −$5.10/SF
NOI
$51.3K $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%
$1,025,100
Cap Rate 7%
$732,214
Cap Rate 9%
$569,500
Alternative Uses
Best Use
Office B
$732.2K
$640.7K – $854.3K
NOI $51,255 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$990.1K
$866.3K – $1.16M
NOI $69,305 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,230
Businesses Nearby
Explore this area
Business Placement
Demographics for 38138, TN
25,837
Population
10,747
Households
2.4
Avg Household Size
45
Median Age
69%
College-Educated
98%
High-School Grad
11.9 sq mi
ZIP Area
2,171
Density / Sq Mi
$130,125
Median Household Income
$72,810
Median Earnings
$1,716
Median Rent
$393,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-story office building available for sale in Germantown, Tennessee.
Where is this office building located?
The property is located at 1384 Cordova Cv Germantown, TN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Single‑story office building for sale in Germantown, Tennessee; Built in 1989
