5149 WHEELIS DR, Memphis, TN 38117
For sale retail storefront building offering a dedicated commercial space in Memphis.
- Added:
- Jun 18, 2026
- Days on Market:
- 10
- Last Refresh:
- Jun 24 at 6:39 am
Property Features for 5149 WHEELIS DR
General Information
- Standard status
- Active
- Size
- 6,450 SF
- Property subtype
- Retail, Office, Mixed Use
Building Details
- Year Built
- 1954
Listing office Michael Lightman Realty Company
Listing date Jun 18, 2026
Source Crexi
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 Michael Lightman Realty Company
HighLights
- Retail storefront building with 6,450 SF of dedicated commercial space
- Built in 1954
Overview
The property is located at 5149 Wheelis Dr in Memphis, Tennessee (38117). As a retail property and space, it is positioned for tenant use consistent with neighborhood retail activity, with access and frontage expected to support day-to-day customer traffic. Prospective buyers or tenants should review site-specific access details during due diligence.
Because this is a purpose-built retail storefront asset, it may fit users looking for a straightforward retail footprint without the need to start from a non-retail shell. Potential buyers should evaluate the space layout and condition for their intended concepts, as well as any lease, ownership, or operational requirements that may apply to the 6,450-square-foot configuration. For brokers and tenants, the next step is confirming build-out needs and verifying how the available retail space aligns with their operating requirements.
Local Financial Insights For Retail
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 | $96.8k | $15.00 |
| − Vacancy | −$4.8k | −$0.75 |
| EGI | $91.9k | $14.25 |
| − OpEx | −$27.6k | −$4.27 |
| NOI | $64.3k | $9.98 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Pugh's Flowers — 5645 Poplar Ave, Memphis, TN 38119
- Kroger Floral — 540 S Mendenhall Rd # 16, Memphis, TN 38117
- Kroger Floral — 799 Truse Pkwy, Memphis, TN 38117
- L & Jay Productions — 4948 William Arnold Rd, Memphis, TN 38117
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.8902484
- Latitude
- 35.1142929
