Auto Collision Center with
For Sale
Contact for pricing
1845 THOMAS ST, Memphis, TN 38134
Configured automotive facility with conditioned work areas, specialized equipment, and a secured vehicle storage lot.
Property Size29,000 SF
Lot Size6.00 Acres
Price / SF$174.41
Days on Market10
Property Features for 1845 THOMAS ST
General Information
Standard status
Active
Size
29,000 SF
Lot size
6.00 Acres
Property subtype
Industrial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Sprinkler System
Yes
Conditioned Warehouse
Yes
Amenities
reception area
restrooms
private offices
warehouse
break room
sprinkler system
air conditioning
fenced lot
automatic gate
pole lights
Building Details
Buildings
1
Building Size
29,000 SF
Abandoned
No
Listing Agency:
Crye-Leike Commercial Memphis
Listed By:
Cathy Anderson · License #TN TN
Source:
Crexi
Added: Sep 3
Changed: Sep 9
Last Checked: Sep 12 at 7:32AM
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 Commercial Memphis
Investment Insights
Based on property information with market context.
This automotive property combines a collision-repair facility with substantial operating and storage improvements. The building contains 29,000 square feet, including a reception area, two private offices, restrooms, a warehouse-style work area, and a break room. The entire premises is conditioned and sprinklered. Included equipment comprises two Unicare downdraft paint booths, an alignment machine, balancing machine, and tire machine.
The property also includes a fenced 6-acre lot directly across the street, secured by an automatic gate. Gate controls operate from the shop and lobby areas. One acre has been prepared with soil, cement, and gravel for vehicle parking, with two pole lights serving that area.
The property also includes a fenced 6-acre lot directly across the street, secured by an automatic gate. Gate controls operate from the shop and lobby areas. One acre has been prepared with soil, cement, and gravel for vehicle parking, with two pole lights serving that area.
Key Highlights
- 29,000‑square‑foot automotive collision facility
- Two Unicare downdraft paint booths included
- Additional equipment includes alignment, balancing, and tire machines
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
$358,007
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
7.08%
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%
$7,160,140
$7.2M
Cap Rate 7%
$5,114,386
$5.1M
Cap Rate 9%
$3,977,856
$4.0M
Market Conditions
NOI Build-Up for 29,000 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
$462.8K $15.96/SF
− Vacancy
−$41.7K −$1.44/SF
EGI
$421.2K $14.52/SF
− OpEx
−$63.2K −$2.18/SF
NOI
$358.0K $12.35/SF
Area
Memphis, TN
Vacancy
9.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
15.00%
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%
$7,160,140
Cap Rate 7%
$5,114,386
Cap Rate 9%
$3,977,856
Alternative Uses
Best Use
Warehouse
$5.11M
$4.48M – $5.97M
NOI $358,007 @ 7.0% cap · market cap 7.08%
Second Best
Industrial
$4.21M
$3.69M – $4.91M
NOI $294,829 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$8.57M
$7.50M – $10.00M
NOI $599,952 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Memphis, TN
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Similar Off Market Nearby
- American Tire District — 730 huron ave, memphis, tn 38107
Frequently Asked Questions
What type of property is this?
Auto shop - Configured automotive facility with conditioned work areas, specialized equipment, and a secured vehicle storage lot.
Where is this auto shop located?
The property is located at 1845 THOMAS ST Memphis, TN.
What is the asking price?
The asking price for this property is $5,057,780.
What are key features of this property?
This property features: 29,000‑square‑foot automotive collision facility; Two Unicare downdraft paint booths included; Additional equipment includes alignment, balancing, and tire machines
