Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Ripley Multifamily Investment Opportunity Title is generated by Realmo AI

    215 S WASHINGTON St, Ripley, TN 38063

    View on Map
    Claim this Listing
    For Sale
    $110,000

    COMMERCIAL - Ripley, TN

    Added:
    Mar 5, 2026
    Days on Market:
    92
    Last Refresh:
    Jun 5 at 8:06 pm

    Property Features for 215 S WASHINGTON St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active

    Taxes and HOA fees

    Tax Annual Amount
    2261

    Building Details

    Year built
    1940

    We can help!

    Listing Contact
    Pamela Worley
    Pamela Worley

    Listing agent Pamela Worley

    Listing office Unique Properties 329 Cleveland St., Ripley, TN

    Listing date Mar 5, 2026

    MLS# 10216355

    Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Priced below market value, presenting an exceptional investment opportunity.
    • Existing rental income from multiple tenants across three buildings provides immediate returns.
    • Opportunity for increased income through renovation of vacant units.
    • Desirable corner lot location.
    • Long‑term tenant in one building ensures stable income.
    • Three buildings included in the sale.

    Overview

    This multifamily property in Ripley, Tennessee, presents an investment opportunity. Priced below market value due to needed repairs, the property still offers income potential. The corner building includes one current tenant paying $400 per month and two vacant units requiring extensive repairs. Building 2 has a long-term tenant with a monthly rent of $300. Building 3 is occupied by three tenants, generating monthly incomes of $800, $500, and $300, respectively. Prospective buyers can walk the property and view the exterior by appointment. Interior viewings are limited to after an offer is signed and accepted by all parties.
    Property Profile Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Auto Repair Shop Hair Salon Hotel & Motel Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Ripley
    County
    Lauderdale
    State
    Tennessee
    Longitude
    -89.536164
    Latitude
    35.744608

    Nearby Similar for Sale

    • $235,000
      4,000 SF

      Downtown Ripley Commercial Building For Sale

      Three-unit commercial building in downtown Ripley with recent updates.
      109 W JACKSON Ave, Ripley, TN 38063
      View Details
    • $1,400,000

      Turnkey Commercial Property in Ripley

      Ready for immediate operation with multiple income opportunities.
      500 S WASHINGTON St, Ripley, TN 38063
      View Details
    • $336,000
      8,075 SF

      Ripley Commercial Building For Sale

      8,000+ sq ft commercial building in high-traffic Ripley area.
      180 S Washington Street, Ripley, TN 38063
      View Details
    • $336,000
      8,000 SF

      Commercial Building in Ripley, TN

      8000 sq ft commercial building on high traffic street.
      180 S WASHINGTON St, Ripley, TN 38063
      View Details
    • $194,999
      1,500 SF

      Turn-Key Ripley Commercial Opportunity

      30x50 metal building on 1/2 acre lot for sale.
      851 HYDE Rd, Ripley, TN 38063
      View Details
    • $225,000
      2,400 SF

      Ripley Commercial Property on Highway

      2400 sq ft commercial building on 1.34 acres.
      1412 Highway 51 N, Ripley, TN 38063
      View Details
    • $139,900

      Turn-Key Business Opportunity in Ripley

      Two storefronts, one turn-key cafe, one long-term tenant.
      129 A & B N MAIN St, Ripley, TN 38063
      View Details
    • $139,900

      Turn-Key Business Opportunity in Ripley

      Two storefronts, one turn-key coffee shop, one long-term tenant.
      129 N MAIN St, Ripley, TN 38063
      View Details
    • $130,000

      Versatile Office Property in Ripley

      Office property with storage, parking, and expansion potential.
      359 JEFFERSON St S, Ripley, TN 38063
      View Details
    • $336,000
      8,000 SF

      Ripley TN Commercial Building

      8000 sq ft commercial building in high-traffic Ripley area.
      180 S WASHINGTON St, Ripley, TN 38063
      View Details
    • $480,000

      Commercial Strip Mall Investment Opportunity

      Fully occupied strip mall in Ripley, TN, for sale.
      WASHINGTON St S, Ripley, TN 38063
      View Details
    • $189,000

      Commercial Building with Drive-Thru

      Commercial building in Ripley, TN, with drive-thru window.
      334 S WASHINGTON St, Ripley, TN 38063
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multifamily property in Ripley, Tennessee with income potential.
    Where is this multifamily property located?
    The property is located at 215 S WASHINGTON St Ripley, TN.
    What is the asking price?
    The asking price for this property is $110,000.
    What are key features of this property?
    This property features: Priced below market value, presenting an exceptional investment opportunity.; Existing rental income from multiple tenants across three buildings provides immediate returns.; Opportunity for increased income through renovation of vacant units.
    (731) 413-0324
    We can help!
    Listing Contact
    Pamela Worley
    Pamela Worley
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    215 S WASHINGTON St, Ripley, TN 38063
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!