Bartlett Retail Center For
For Sale
Contact for pricing
6115 Stage Rd, Bartlett, TN 38134
5,600 SF retail center in Bartlett, Tennessee, 100% occupied.
Property Size5,600 SF
Price / SF$241.07
Days on Market160
Property Features for 6115 Stage Rd
General Information
Standard status
Active
Size
5,600 SF
Class
B
Property subtype
Retail
Zoning
CG-MS
Listing Agency:
NAI Saig Company Memphis
(901) 526-3100
Listed By:
Brian Califf · License #TN 299669
Source:
Crexi
Added: Mar 4
Changed: Aug 8
Last Checked: Aug 8 at 6:45AM
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.
The property at 6115 Stage Road in Bartlett, TN, is a 5,600 SF retail center. The property is 100% occupied by two tenants. Batteries Plus will execute a new 7-year NNN lease with 2% annual escalations at closing. The property is located on the hard corner of Stage Center Drive and Stage Road, offering excellent exposure. There is potential upside through a rental increase on the 1,500 SF unit upon lease expiration.
Key Highlights
- 100% Occupancy: Ensures immediate income.
- New Long‑Term Lease with Batteries Plus: Benefit from a stable, 7‑year NNN lease with a national tenant.
- Annual Rent Escalations: The Batteries Plus lease includes 2% annual increases.
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
$55,860
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
4.14%
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%
$1,117,200
$1.1M
Cap Rate 7%
$798,000
$798.0K
Cap Rate 9%
$620,667
$620.7K
Market Conditions
NOI Build-Up for 5,600 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
$84.0K $15.00/SF
− Vacancy
−$4.2K −$0.75/SF
EGI
$79.8K $14.25/SF
− OpEx
−$23.9K −$4.27/SF
NOI
$55.9K $9.98/SF
Area
Memphis, TN
Vacancy
5.00%
Lease Rate
$15.00 /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%
$1,117,200
Cap Rate 7%
$798,000
Cap Rate 9%
$620,667
Alternative Uses
Best Use
Retail
$798.0K
$698.3K – $931.0K
NOI $55,860 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,853 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
815
Businesses Nearby
70k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 26%
Beauty & Spa 6%
Kangaroo Express
Shops & Services
10,599 visits/mo
0.5 miles
FedEx Office Print & Ship Center
Shops & Services
9,560 visits/mo
0.5 miles
Exxon
Shops & Services
8,859 visits/mo
0.4 miles
Applebee's
Dining
6,265 visits/mo
0.5 miles
Dollar General
Shops & Services
5,748 visits/mo
0.1 miles
Demographics for 38134, TN
41,760
Population
15,685
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
86%
High-School Grad
18.6 sq mi
ZIP Area
2,245
Density / Sq Mi
$61,172
Median Household Income
$39,185
Median Earnings
$1,147
Median Rent
$184,400
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.
Similar Off Market Nearby
- Bartlett Shops — 2746 Bartlett Blvd, Bartlett, TN 38134
- Bartlett Hills Shopping Center — 6200 Stage Rd, Memphis, TN 38134
- Parkside Gallery — 2731 Bartlett Blvd, Bartlett, TN 38134
- Elmore Park Plaza — 2919 Elmore Park Rd, Memphis, TN 38134
- Coinstar Kiosk | Bitcoin ATM — Kroger - Delta, 5995 Stage Rd, Bartlett, TN 38134
Frequently Asked Questions
What type of property is this?
Shopping center - 5,600 SF retail center in Bartlett, Tennessee, 100% occupied.
Where is this shopping center located?
The property is located at 6115 Stage Rd Bartlett, TN.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 100% Occupancy: Ensures immediate income.; New Long‑Term Lease with Batteries Plus: Benefit from a stable, 7‑year NNN lease with a national tenant.; Annual Rent Escalations: The Batteries Plus lease includes 2% annual increases.
