Flex Space with Roll-Up
For Sale
Contact for pricing
4561 US Hwy 51 N, Memphis, TN 38116
Flexible commercial layout combines open area, private restrooms, storage, and warehouse space.
Property Size5,998 SF
Price / SF$141.71
Days on Market16
Property Features for 4561 US Hwy 51 N
General Information
Standard status
Active
Size
5,998 SF
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
13.7 ft
Warehouse Space
2,646 SF
Drive-In Doors
6
Amenities
3 private restrooms
6 12-foot ground-level roll-up doors
Listing Agency:
NAI Saig Company - Memphis
(901) 526-3100
Listed By:
Brian Califf · License ##299669
(901) 526-3100
Source:
Moodyscre
Added: Jul 27
Changed: Jul 31
Last Checked: Aug 10 at 10:18AM
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 NAI Saig Company - Memphis
Investment Insights
Based on property information with market context.
This 5,998-square-foot flex space at 4561 US Hwy 51 N in Memphis, Tennessee, combines an approximately 1,720-square-foot open area with three private restrooms, an approximately 1,632-square-foot storage room, and approximately 2,646 square feet of warehouse space.
The warehouse includes six 12-foot ground-level roll-up doors and has a 13-foot 8-inch ceiling height. The storage room provides 15-foot 11-inch ceiling height, supporting a range of commercial storage and operational needs within the existing configuration.
The warehouse includes six 12-foot ground-level roll-up doors and has a 13-foot 8-inch ceiling height. The storage room provides 15-foot 11-inch ceiling height, supporting a range of commercial storage and operational needs within the existing configuration.
Key Highlights
- 5,998‑square‑foot flex space at 4561 US Hwy 51 N, Memphis, TN 38116
- Approximately 1,720 SF open area
- Approximately 1,632 SF storage room with 15ft 11in ceiling height
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,285
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,405,700
$1.4M
Cap Rate 7%
$1,004,071
$1.0M
Cap Rate 9%
$780,944
$780.9K
Market Conditions
NOI Build-Up for 5,998 SF
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.
Gross rent
$108.0K $18.00/SF
− Vacancy
−$7.6K −$1.26/SF
EGI
$100.4K $16.74/SF
− OpEx
−$30.1K −$5.02/SF
NOI
$70.3K $11.72/SF
Area
ZIP 38116
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,405,700
Cap Rate 7%
$1,004,071
Cap Rate 9%
$780,944
Alternative Uses
Best Use
Retail
$1.00M
$878.6K – $1.17M
NOI $70,285 @ 7.0% cap · market cap 8.27%
Second Best
Flex RnD
$608.2K
$532.2K – $709.6K
NOI $42,574 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,001 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
13 ft
Clear height
6
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
105
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
Vacancy Rate% for Industrial in Memphis, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial layout combines open area, private restrooms, storage, and warehouse space.
Where is this flex space located?
The property is located at 4561 US Hwy 51 N Memphis, TN.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 5,998‑square‑foot flex space at 4561 US Hwy 51 N, Memphis, TN 38116; Approximately 1,720 SF open area; Approximately 1,632 SF storage room with 15ft 11in ceiling height
