Multifamily
New
For Sale
$124,900
3017 Spottswood Ave, Memphis, TN 38111
The property is positioned for residential rental use.
Property Size1,401 SF
Price / SF$89.15
Days on Market5
Property Features for 3017 Spottswood Ave
General Information
Standard status
Active
Size
1,401 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Kingdom Community Builders
Building Details
Year Built
1940
Listing Agency:
Small Town Hunting Properties
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 6:56AM
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 Small Town Hunting Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,401-square-foot multifamily property was built in 1940 and is identified as a rental. The available information does not specify its interior layout or unit count.
The property is on Spottswood Ave in Memphis, with access to retail, restaurants, employment centers, and everyday services.
The property is on Spottswood Ave in Memphis, with access to retail, restaurants, employment centers, and everyday services.
Key Highlights
- 1,401 square feet
- Built in 1940
- Located at 3017 Spottswood Ave, Memphis, TN 38111
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,461
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$209,220
$209.2K
Cap Rate 7%
$149,443
$149.4K
Cap Rate 9%
$116,233
$116.2K
Market Conditions
NOI Build-Up for 1,401 SF
Gross rent
$20.3K $14.52/SF
− Vacancy
−$1.3K −$0.94/SF
EGI
$19.0K $13.58/SF
− OpEx
−$8.6K −$6.11/SF
NOI
$10.5K $7.47/SF
Area
Memphis, TN
Vacancy
6.50%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$209,220
Cap Rate 7%
$149,443
Cap Rate 9%
$116,233
Alternative Uses
Best Use
Multifamily LT 5
$168.8K
$147.7K – $196.9K
NOI $11,815 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$149.4K
$130.8K – $174.4K
NOI $10,461 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$414.1K
$362.3K – $483.1K
NOI $28,984 @ 7.0% cap · market cap 23.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 38111, TN
40,533
Population
20,084
Households
2
Avg Household Size
34
Median Age
38%
College-Educated
89%
High-School Grad
9.8 sq mi
ZIP Area
4,136
Density / Sq Mi
$52,806
Median Household Income
$33,449
Median Earnings
$1,077
Median Rent
$165,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property is positioned for residential rental use.
Where is this multifamily property located?
The property is located at 3017 Spottswood Ave Memphis, TN.
What is the asking price?
The asking price for this property is $124,900.
What are key features of this property?
This property features: 1,401 square feet; Built in 1940; Located at 3017 Spottswood Ave, Memphis, TN 38111
