23 S McLean Blvd, Memphis, TN 38104
Charming 16-unit multifamily building in the heart of Midtown Memphis.
- Added:
- Mar 4, 2026
- Days on Market:
- 127
- Last Refresh:
- Jul 2 at 6:12 am
Property Features for 23 S McLean Blvd
General Information
- Standard status
- Active
- Size
- 19,210 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1915
Listing office Crye-Leike Commercial Memphis
Listing date Mar 4, 2026
Source Crexi
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
HighLights
- Charming multi‑family building
- Boasting 16 units
- Heart of Midtown Memphis location
- Built in 1915
Overview
Local Financial Insights For Apartment 5plus
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 | $278.9k | $14.52 |
| − Vacancy | −$18.1k | −$0.94 |
| EGI | $260.8k | $13.58 |
| − OpEx | −$117.4k | −$6.11 |
| NOI | $143.4k | $7.47 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -90.0001665
- Latitude
- 35.1369558
