Two-Bay Medical Office
For Sale
$1,499,000
6225 GREENLEE Rd, Arlington, TN 38002
Commercial/Industrial, Arlington, TN
Property Size6,261 SF
Price / SF$239.42
Days on Market50
Property Features for 6225 GREENLEE Rd
General Information
Property type
Residential
Property subtype
Office
Subdivision
GREENLEE STREET OFFICES
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
15006
Building Details
Year built
2019
Listing Agency:
Bascom Realty
(901) 867-7988
Listed By:
Glen Bascom · License #274897
(901) 870-4023
Added: Aug 20
Changed: Sep 21
Last Checked: Oct 8 at 4:06AM
MLS# 10228798
Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2019, this medical office property contains 6,261 square feet arranged across two bays. Suite 101 measures 3,056 square feet, while Suite 102 provides 3,205 square feet. The bays can be connected, allowing the property to function as a larger contiguous office or medical facility while retaining separate suite configurations. Both spaces are fully built out and ready for occupancy or leasing. The property is located at 6225 Greenlee Rd in Arlington, Tennessee, within Shelby County.
Key Highlights
- 6,261‑square‑foot medical office property built in 2019
- Two‑bay layout with suites that can be connected
- Suite 101 contains 3,056 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,640
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,492,800
$1.5M
Cap Rate 7%
$1,066,286
$1.1M
Cap Rate 9%
$829,333
$829.3K
Market Conditions
NOI Build-Up for 6,261 SF
Gross rent
$139.0K $22.20/SF
− Vacancy
−$14.6K −$2.33/SF
EGI
$124.4K $19.87/SF
− OpEx
−$49.8K −$7.95/SF
NOI
$74.6K $11.92/SF
Area
Shelby County, TN
Vacancy
10.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,492,800
Cap Rate 7%
$1,066,286
Cap Rate 9%
$829,333
Alternative Uses
Best Use
Healthcare Medical
$1.07M
$933.0K – $1.24M
NOI $74,640 @ 7.0% cap · market cap 4.98%
Second Best
Office B
$879.0K
$769.2K – $1.03M
NOI $61,533 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,716 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 38002, TN
44,385
Population
15,448
Households
2.9
Avg Household Size
38
Median Age
47%
College-Educated
97%
High-School Grad
116.3 sq mi
ZIP Area
382
Density / Sq Mi
$115,478
Median Household Income
$56,917
Median Earnings
$1,695
Median Rent
$363,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built-out commercial space includes two separately configured suites that can be connected for a unified layout.
Where is this medical office space located?
The property is located at 6225 GREENLEE Rd Arlington, TN.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: 6,261‑square‑foot medical office property built in 2019; Two‑bay layout with suites that can be connected; Suite 101 contains 3,056 square feet
