Flex Space with Fenced
For Sale
Contact for pricing
3166 BROAD AVE, Memphis, TN 38112
Flex property includes a two-story office area and multiple dry storage buildings with gated, fenced yard and grade-level plus dock-high loading.
Property Size6,912 SF
Lot Size1.31 Acres
Price / SF$108.36
Days on Market181
Property Features for 3166 BROAD AVE
General Information
Standard status
Active
Size
6,912 SF
Lot size
1.31 Acres
Property subtype
Office, Industrial
Zoning
CMU-1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Year Built
1969
Buildings
2
Stories
2
Units
1
Listing Agency:
Crye-Leike Commercial Memphis
Listed By:
Eric Fuhrman, CCIM, SIOR · License #TN 291774
Source:
Crexi
Added: Apr 24
Changed: Oct 21
Last Checked: Oct 20 at 5:49PM
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
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Investment Insights
Based on property information with market context.
This flex space for sale features a versatile two-story office/flex building and substantial on-site storage improvements. The compound includes a 40’ x 80’ dry storage facility plus two additional covered storage structures, providing space for equipment and materials. Loading is designed for practical operations, with both grade-level and dock-high access.
The property is situated on a fenced, fully gated site with security monitoring. It is positioned inside the I-240 loop at 3166 Broad Avenue in Memphis, TN.
With office and multiple storage components on a single secured yard, the layout is suited to uses that need dedicated workspace alongside dependable covered and dry storage.
The property is situated on a fenced, fully gated site with security monitoring. It is positioned inside the I-240 loop at 3166 Broad Avenue in Memphis, TN.
With office and multiple storage components on a single secured yard, the layout is suited to uses that need dedicated workspace alongside dependable covered and dry storage.
Key Highlights
- 1.31‑acre light industrial compound at 3166 Broad Avenue with gated, fenced, security‑monitored yard
- Two‑story office/flex building totaling 6,912 SF (Year built: 1969)
- 40’ x 80’ dry storage facility plus two additional covered storage structures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,309
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,366,180
$1.4M
Cap Rate 7%
$975,843
$975.8K
Cap Rate 9%
$758,989
$759.0K
Market Conditions
NOI Build-Up for 6,912 SF
Gross rent
$116.1K $16.80/SF
− Vacancy
−$11.0K −$1.60/SF
EGI
$105.1K $15.20/SF
− OpEx
−$36.8K −$5.32/SF
NOI
$68.3K $9.88/SF
Area
Memphis, TN
Vacancy
9.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,366,180
Cap Rate 7%
$975,843
Cap Rate 9%
$758,989
Alternative Uses
Best Use
Warehouse
$1.22M
$1.07M – $1.42M
NOI $85,329 @ 7.0% cap · market cap 11.39%
Second Best
Industrial
$1.00M
$878.4K – $1.17M
NOI $70,271 @ 7.0% cap · market cap 9.38%
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,995 @ 7.0% cap · market cap 19.09%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 38112, TN
16,970
Population
7,425
Households
2.3
Avg Household Size
32
Median Age
38%
College-Educated
85%
High-School Grad
4.8 sq mi
ZIP Area
3,535
Density / Sq Mi
$52,639
Median Household Income
$29,576
Median Earnings
$969
Median Rent
$206,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Memphis, TN
Similar Off Market Nearby
- Mississippi Queen Catering — 280 Tillman St, Memphis, TN 38112
- Drunken Daisies — 3079 Crystal Ave, Memphis, TN 38112
- Fascinating Catering — 3519 Summer Ave, Memphis, TN 38122
Frequently Asked Questions
What type of property is this?
Flex space - Flex property includes a two-story office area and multiple dry storage buildings with gated, fenced yard and grade-level plus dock-high loading.
Where is this flex space located?
The property is located at 3166 BROAD AVE Memphis, TN.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 1.31‑acre light industrial compound at 3166 Broad Avenue with gated, fenced, security‑monitored yard; Two‑story office/flex building totaling 6,912 SF (Year built: 1969); 40’ x 80’ dry storage facility plus two additional covered storage structures
