Auto Shop
For Sale
Contact for pricing
6076 US HWY 51 N, Millington, TN 38053
Commercial property with CMU-3 zoning and a 1968 construction date.
Property Size7,936 SF
Price / SF$77.49
Days on Market96
Property Features for 6076 US HWY 51 N
General Information
Standard status
Active
Size
7,936 SF
Property subtype
Industrial
Zoning
CMU-3
Building Details
Year Built
1968
Year Renovated
2025
Buildings
1
Stories
1
Units
1
Listing Agency:
Crye-Leike Commercial Memphis
Listed By:
Andy Walker · License #TN 335853
Source:
Crexi
Added: May 28
Changed: Aug 31
Last Checked: Aug 31 at 12:44AM
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
Investment Insights
Based on property information with market context.
This auto shop property contains 7,936 SF and was built in 1968. The asset carries CMU-3 zoning and is located at 6076 US HWY 51 N in Millington, TN.
Key Highlights
- 7,936 SF property
- CMU‑3 zoning
- Built in 1968
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
$49,853
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
8.11%
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%
$997,060
$997.1K
Cap Rate 7%
$712,186
$712.2K
Cap Rate 9%
$553,922
$553.9K
Market Conditions
NOI Build-Up for 7,936 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
$78.1K $9.84/SF
− Vacancy
−$6.9K −$0.87/SF
EGI
$71.2K $8.97/SF
− OpEx
−$21.4K −$2.69/SF
NOI
$49.9K $6.28/SF
Area
Shelby County, TN
Vacancy
8.80%
Lease Rate
$9.84 /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%
$997,060
Cap Rate 7%
$712,186
Cap Rate 9%
$553,922
Alternative Uses
Best Use
Retail
$1.03M
$899.9K – $1.20M
NOI $71,995 @ 7.0% cap · market cap 11.71%
Second Best
Industrial
$712.2K
$623.2K – $830.9K
NOI $49,853 @ 7.0% cap · market cap 8.11%
Theoretical Best
Office A
$1.61M
$1.41M – $1.87M
NOI $112,450 @ 7.0% cap · market cap 18.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 38053, TN
26,839
Population
10,674
Households
2.5
Avg Household Size
42
Median Age
21%
College-Educated
88%
High-School Grad
162.4 sq mi
ZIP Area
165
Density / Sq Mi
$58,548
Median Household Income
$41,429
Median Earnings
$1,105
Median Rent
$195,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Commercial property with CMU-3 zoning and a 1968 construction date.
Where is this auto shop located?
The property is located at 6076 US HWY 51 N Millington, TN.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 7,936 SF property; CMU‑3 zoning; Built in 1968
