Freestanding Storefront
For Sale
Contact for pricing
6645 E Shelby Drive, Memphis, TN 38141
Occupied retail building on a 0.89-acre commercial-agricultural parcel in Southeast Memphis.
Property Size6,828 SF
Lot Size0.89 Acres
Price / SF$117.16
Days on Market144
Property Features for 6645 E Shelby Drive
General Information
Standard status
Active
Size
6,828 SF
Lot size
0.89 Acres
Property subtype
Retail
Zoning
CA (Commercial-Agricultural)
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$63,540
Building Details
Year Built
1997
Buildings
1
Tenancy
Single
Listing Agency:
Sands Investment Group Philadelphia
(858) 212-7473
Listed By:
Tom Gorman · License #PA RM424383
Source:
Crexi
Added: Apr 9
Changed: Aug 29
Last Checked: Aug 29 at 3:32PM
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 Sands Investment Group Philadelphia
Investment Insights
Based on property information with market context.
This freestanding retail property includes a 6,828-square-foot building constructed in 1997. The property occupies a 0.89-acre parcel containing 53,542 square feet and is currently occupied by Beauty Trendz.
Located at 6645 E Shelby Drive in Memphis, Tennessee, the property carries CA (Commercial-Agricultural) zoning. Its existing retail building, established occupancy, and freestanding configuration define the current commercial use.
Located at 6645 E Shelby Drive in Memphis, Tennessee, the property carries CA (Commercial-Agricultural) zoning. Its existing retail building, established occupancy, and freestanding configuration define the current commercial use.
Key Highlights
- 6,828 SF freestanding retail building
- 0.89‑acre parcel containing 53,542 SF
- Currently occupied by Beauty Trendz
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
$68,109
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
8.51%
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%
$1,362,180
$1.4M
Cap Rate 7%
$972,986
$973.0K
Cap Rate 9%
$756,767
$756.8K
Market Conditions
NOI Build-Up for 6,828 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
$102.4K $15.00/SF
− Vacancy
−$5.1K −$0.75/SF
EGI
$97.3K $14.25/SF
− OpEx
−$29.2K −$4.27/SF
NOI
$68.1K $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%
$1,362,180
Cap Rate 7%
$972,986
Cap Rate 9%
$756,767
Alternative Uses
Best Use
Retail
$973.0K
$851.4K – $1.14M
NOI $68,109 @ 7.0% cap · market cap 8.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.35M
NOI $141,258 @ 7.0% cap · market cap 17.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
60k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 39%
Wendy's
Dining
14,266 visits/mo
0.4 miles
BP
Shops & Services
7,612 visits/mo
0.2 miles
Burger King
Dining
7,551 visits/mo
0.4 miles
Exxon
Shops & Services
6,734 visits/mo
0.3 miles
Family Dollar
Shops & Services
6,578 visits/mo
0.1 miles
Demographics for 38141, TN
22,333
Population
8,306
Households
2.7
Avg Household Size
33
Median Age
17%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
2,863
Density / Sq Mi
$64,050
Median Household Income
$41,114
Median Earnings
$1,389
Median Rent
$146,100
Median Home Value
Market
Vacancy Rate% for Retail in Memphis, TN
Questions? Ask Rey
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Similar Off Market Nearby
- Kroger Floral — 6975 E Shelby Dr, Memphis, TN 38125
Frequently Asked Questions
What type of property is this?
Storefront property - Occupied retail building on a 0.89-acre commercial-agricultural parcel in Southeast Memphis.
Where is this storefront property located?
The property is located at 6645 E Shelby Drive Memphis, TN.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 6,828 SF freestanding retail building; 0.89‑acre parcel containing 53,542 SF; Currently occupied by Beauty Trendz
