3314 MILLBRANCH Rd, Memphis, TN 38116

Building Details

Year built 1972 More

Listing Agency: Crye-Leike, Inc., REALTORS m***@crye-leike.com Show Phone

Listed By: Nataraja Krishnaraju · License TN #333358 Show Phone

Added: Nov 11 Changed: Nov 13 Last Checked: Nov 13 at 11:06PM

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MLS# 10234231

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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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 6,092-square-foot flex property combines warehouse and office space. The warehouse has oversized front and rear access doors, a large warehouse door, and a truck loading dock. Office and employee areas include a conference room, sitting area, pantry, breakroom, and two restrooms.

A spacious parking area is located behind the building. Built in 1972, the property is in Memphis, Tennessee.

Key Highlights

• 6,092 square feet of flex space
• Warehouse includes oversized front and rear access doors, a large warehouse door, and a truck loading dock
• Office and support areas include a conference room, sitting area, pantry, and employee breakroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,925

Suggested Prices Based on Cap Rates

Cap Rate 5%

$698,500 $698.5K

Cap Rate 7%

$498,929 $498.9K

Cap Rate 9%

$388,056 $388.1K

What to ask about pricing

Market Conditions

NOI Build-Up for 6,092 SF

Gross rent

$54.8K $9.00/SF

− Vacancy

−$4.9K −$0.81/SF

EGI

$49.9K $8.19/SF

− OpEx

−$15.0K −$2.46/SF

NOI

$34.9K $5.73/SF

Area

ZIP 38116

Vacancy

9.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$698,500

Cap Rate 7%

$498,929

Cap Rate 9%

$388,056

Alternative Uses

Best Use

Flex RnD

$617.7K

$540.5K – $720.7K (±1% cap)

NOI $43,241 @ 7.0% cap

Second Best

Warehouse

$605.8K

$530.1K – $706.8K (±1% cap)

NOI $42,409 @ 7.0% cap

Theoretical Best

Office A

$1.49M

$1.31M – $1.74M (±1% cap)

NOI $104,615 @ 7.0% cap

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

P V Products ... (Bike/Boat/Book/etc) Store KitiKiti Cosmetic Store KEMET Gold (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Garden Center Grocery & Convenience Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

572

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 38116, TN

39,107

Population

18,526

Households

2.1

Avg Household Size

35

Median Age

21%

College-Educated

88%

High-School Grad

19.6 sq mi

ZIP Area

1,995

Density / Sq Mi

$44,663

Median Household Income

$31,593

Median Earnings

$1,035

Median Rent

$125,800

Median Home Value

Market

Properties on Market for Flex space in Memphis

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Memphis, TN

5.5% 2019

6.3% 2020

4.8% 2021

4.5% 2022

7.4% 2023

8.8% 2024

8.5% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Office and meeting areas complement the warehouse, with oversized access doors and a rear parking area.

Where is this flex space located?

The property is located at 3314 MILLBRANCH Rd Memphis, TN.

What are key features of this property?

This property features: 6,092 square feet of flex space; Warehouse includes oversized front and rear access doors, a large warehouse door, and a truck loading dock; Office and support areas include a conference room, sitting area, pantry, and employee breakroom