Six-Office Professional
For Sale
Contact for pricing
299 S WALNUT BEND Rd, Memphis, TN 38018
Commercial/Industrial, Memphis, TN
Property Size1,500 SF
Price / SF$1.47
Days on Market211
Property Features for 299 S WALNUT BEND Rd
General Information
Property type
Residential
Property subtype
Office
Subdivision
GERMATOWN PKWY COMMONS PH II PAR 2
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
10941
Building Details
Year built
1988
Listing Agency:
Pinnacle Realty
(901) 707-7700
Listed By:
Jo Mathes · License #272839
(901) 490-0092
Added: Mar 20
Changed: Sep 3
Last Checked: Oct 16 at 7:06AM
MLS# 10217308
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.
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Investment Insights
Based on property information with market context.
This 1,500-square-foot office unit is arranged with six private offices within a building constructed in 1988. The enclosed-room layout previously accommodated a realty office and provides a defined setting for administrative, client-facing, or team-based operations. Its configuration supports separate work areas without relying on an open-plan format.
The property is located at 299 S Walnut Bend Rd in Memphis, just off Germantown Road. The suite is positioned within an established office corridor and offers a professional setting for businesses seeking a dedicated office presence.
The property is located at 299 S Walnut Bend Rd in Memphis, just off Germantown Road. The suite is positioned within an established office corridor and offers a professional setting for businesses seeking a dedicated office presence.
Key Highlights
- 1,500 square feet of office space
- Six private offices within the suite
- Building constructed in 1988
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,950
Suggested Prices Based on Cap Rates
Cap Rate 5%
$459,000
$459.0K
Cap Rate 7%
$327,857
$327.9K
Cap Rate 9%
$255,000
$255.0K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$36.0K $24.00/SF
− Vacancy
−$5.4K −$3.60/SF
EGI
$30.6K $20.40/SF
− OpEx
−$7.7K −$5.10/SF
NOI
$23.0K $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 Rate 5%
$459,000
Cap Rate 7%
$327,857
Cap Rate 9%
$255,000
Alternative Uses
Best Use
Office B
$327.9K
$286.9K – $382.5K
NOI $22,950 @ 7.0% cap · market cap 1,043.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$443.3K
$387.9K – $517.2K
NOI $31,032 @ 7.0% cap · market cap 1,410.55%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,083
Businesses Nearby
Explore this area
Business Placement
Demographics for 38018, TN
37,086
Population
15,110
Households
2.5
Avg Household Size
38
Median Age
46%
College-Educated
94%
High-School Grad
18.7 sq mi
ZIP Area
1,983
Density / Sq Mi
$89,627
Median Household Income
$47,813
Median Earnings
$1,594
Median Rent
$255,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Memphis, TN
Frequently Asked Questions
What type of property is this?
Office units - Configured office space with multiple enclosed rooms in an established Memphis commercial building.
Where is this office units located?
The property is located at 299 S WALNUT BEND Rd Memphis, TN.
What are key features of this property?
This property features: 1,500 square feet of office space; Six private offices within the suite; Building constructed in 1988
