Freestanding Chase Bank Net
For Sale
Contact for pricing
4910 Raleigh Common Dr, Memphis, TN 38128
Net leased Chase Bank in revitalized Raleigh commercial corridor.
Property Size3,000 SF
Price / SF$325
Days on Market204
Property Features for 4910 Raleigh Common Dr
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Office, Retail
Listing Agency:
Myers Commercial Real Estate
Listed By:
Melanie Myers Bland · License #TN 288335
Source:
Crexi
Added: Jan 29
Changed: Aug 17
Last Checked: Aug 19 at 5:13AM
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 Myers Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,000 square foot freestanding building is situated on a highly visible corner lot within Raleigh’s revitalized commercial corridor. The property is fully leased to Chase Bank, a nationally recognized credit tenant, and is in year three of a 15-year initial lease with 13 years remaining. The lease includes three renewal options and a true NNN structure, offering passive income with minimal landlord responsibility. The lease features 10% rent increases every five years, providing inflation protection and long-term NOI growth. The surrounding area is experiencing significant commercial expansion, with recent and upcoming developments including Starbucks, Chick-fil-A, Whataburger, Tropical Smoothie Café, Valvoline Instant Oil Change, and Glide Xpress Car Wash, as well as the Raleigh Springs Civic Town Center completed in 2023. The property is also supported by nearby national retailers, financial institutions, healthcare providers, and a dense concentration of quick-service restaurants, driving consistent traffic and consumer demand. This offering presents a stable, long-term investment in a rapidly strengthening trade area.
Key Highlights
- Long‑term, stable investment with a 15‑year initial lease to Chase Bank (13 years remaining).
- True NNN lease structure provides passive income with minimal landlord responsibilities.
- Located in a rapidly growing commercial corridor with significant recent and upcoming developments (Starbucks, Chick‑fil‑A, Whataburger, etc.).
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
$38,070
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
3.90%
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%
$761,400
$761.4K
Cap Rate 7%
$543,857
$543.9K
Cap Rate 9%
$423,000
$423.0K
Market Conditions
NOI Build-Up for 3,000 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
$54.0K $18.00/SF
− Vacancy
−$3.2K −$1.08/SF
EGI
$50.8K $16.92/SF
− OpEx
−$12.7K −$4.23/SF
NOI
$38.1K $12.69/SF
Area
ZIP 38128
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$761,400
Cap Rate 7%
$543,857
Cap Rate 9%
$423,000
Alternative Uses
Best Use
Specialty Retail
$543.9K
$475.9K – $634.5K
NOI $38,070 @ 7.0% cap · market cap 3.90%
Second Best
Retail
$449.5K
$393.4K – $524.5K
NOI $31,468 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$796.1K
$696.6K – $928.8K
NOI $55,728 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
230k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 38%
Shops & Services 25%
Dining 16%
Groceries 15%
Walmart
Superstores
87,439 visits/mo
0.3 miles
Kroger
Groceries
33,786 visits/mo
0.2 miles
Dollar Tree
Shops & Services
18,014 visits/mo
0.1 miles
Burger King
Dining
16,487 visits/mo
0.3 miles
Wendy's
Dining
14,935 visits/mo
0.3 miles
Demographics for 38128, TN
43,197
Population
18,388
Households
2.3
Avg Household Size
32
Median Age
15%
College-Educated
85%
High-School Grad
23.6 sq mi
ZIP Area
1,830
Density / Sq Mi
$43,166
Median Household Income
$32,429
Median Earnings
$1,150
Median Rent
$123,900
Median Home Value
Market
Vacancy Rate% for Retail in Memphis, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Net leased Chase Bank in revitalized Raleigh commercial corridor.
Where is this bank located?
The property is located at 4910 Raleigh Common Dr Memphis, TN.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Long‑term, stable investment with a 15‑year initial lease to Chase Bank (13 years remaining).; True NNN lease structure provides passive income with minimal landlord responsibilities.; Located in a rapidly growing commercial corridor with significant recent and upcoming developments (Starbucks, Chick‑fil‑A, Whataburger, etc.).
