Retail Condominium Space in Mixed-Use
For Sale
$350,000
2135 Merchants Row, Germantown, TN 38138
COMMERCIAL - Germantown, TN
Property Size2,508 SF
Lot Size0.17 Acres
Price / SF$139.55
Days on Market96
Property Features for 2135 Merchants Row
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Underground/Basement
Security features
Security System
Directions
East on Poplar Avenue into Germantown, turn right or South on West Street. Just after passing Saddle Creek shops, turn right onto Market Row, go straight to back of center, turn right onto Market Row. Building will be on left side.
Standard status
Active
Size
2,508 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Utilities
Heating system
Forced Air, Zoned, Electric (Heating)
Water source
Public
Building Details
Year built
1987
Floors in Building
2
Building materials
Brick
Roof type
Asphalt
Listing Agency:
Tiger Realty
(901) 770-7835
Listed By:
Carol Scott
(901) 770-7835
Added: May 3
Changed: Aug 4
Last Checked: Aug 6 at 8:06AM
MLS# 11738666
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail condominium space is located within an attached mixed-use business condominium community. The unit is constructed with brick and features an asphalt roof. Heating is electric forced air, and the property has public water service. Parking is described as underground/basement.
Zoned commercial, the space supports a flexible tenant fit. The unit is presented as usable for retail as-is, with potential conversion to office, medical, salon, or restaurant.
Built in 1987, the property sits on a 0.165-acre lot and includes 2,508 square feet of space. The interior includes at least one bathroom.
Zoned commercial, the space supports a flexible tenant fit. The unit is presented as usable for retail as-is, with potential conversion to office, medical, salon, or restaurant.
Built in 1987, the property sits on a 0.165-acre lot and includes 2,508 square feet of space. The interior includes at least one bathroom.
Key Highlights
- Retail condominium unit within an attached mixed‑use business condominium community
- 0.165‑acre lot with 2,508 square feet of retail space
- Commercial zoning with stated potential for office, medical, salon, or restaurant
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.6k | $15.00 |
| − Vacancy | −$1.9k | −$0.75 |
| EGI | $35.7k | $14.25 |
| − OpEx | −$10.7k | −$4.27 |
| NOI | $25.0k | $9.98 |
2,508 SF · lease $15.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$548.2K
$479.7K – $639.5K
NOI $38,372 @ 7.0% cap · market cap 10.96%
Second Best
Retail
$357.4K
$312.7K – $417.0K
NOI $25,017 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$741.2K
$648.6K – $864.8K
NOI $51,886 @ 7.0% cap · market cap 14.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,414
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Brick retail condominium unit with commercial zoning, public water, and forced-air electric HVAC, built in 1987.
Where is this retail space located?
The property is located at 2135 Merchants Row Germantown, TN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Retail condominium unit within an attached mixed‑use business condominium community; 0.165‑acre lot with 2,508 square feet of retail space; Commercial zoning with stated potential for office, medical, salon, or restaurant
