31 S McLean Blvd, Memphis, TN 38104
16-unit multifamily property in the heart of Midtown Memphis.
- Added:
- Mar 5, 2026
- Days on Market:
- 126
- Last Refresh:
- Jun 28 at 9:33 am
Property Features for 31 S McLean Blvd
General Information
- Standard status
- Active
- Size
- 19,384 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1925
Listing office Crye-Leike Commercial Memphis
Listing date Mar 5, 2026
Source Crexi
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HighLights
- 16‑unit multi‑family property
- Located in the heart of Midtown Memphis
- Attractive mix of studio, 1‑bedroom, and 2‑bedroom units
- Built in 1925
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 | $281.5k | $14.52 |
| − Vacancy | −$18.3k | −$0.94 |
| EGI | $263.2k | $13.58 |
| − OpEx | −$118.4k | −$6.11 |
| NOI | $144.7k | $7.47 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -90.0002203
- Latitude
- 35.1366908
