East Memphis Office Building
668 Colonial Rd Memphis, TN
For Sale
Contact for pricing
5,958 SF fully leased office building in East Memphis.
Property Size5,958 SF
Lot Size0.53 Acres
Price / SF$184.63
Days on Market359
Property Features for 668 Colonial Rd
General Information
Standard status
Active
Size
5,958 SF
Lot size
0.53 Acres
Property subtype
OFFICE
Listing Agency:
Colliers | Memphis
(901) 312-4928
Listed By:
Andrew Phillips · License #279121
(901) 289-6805
Source:
Moodyscre
Added: Aug 5, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:57AM
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 Colliers | Memphis
Investment Insights
Based on property information with market context.
The property at 668 Colonial Road, Memphis, TN 38117 is a 5,958 SF single-story office building located in the heart of East Memphis. The building is fully leased to three tenants, presenting a turnkey investment opportunity with stable income and minimal management needs, with potential for long-term upside.
Key Highlights
- Fully leased with three tenants, providing a turnkey investment.
- Stable income stream from existing tenants.
- Minimal management needs for the property.
Financial Insights For Office B
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 | $143.0k | $24.00 |
| − Vacancy | −$21.4k | −$3.60 |
| EGI | $121.5k | $20.40 |
| − OpEx | −$30.4k | −$5.10 |
| NOI | $91.2k | $15.30 |
5,958 SF · lease $24.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $91,157 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,259 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - 5,958 SF fully leased office building in East Memphis.
Where is this office building located?
The property is located at 668 Colonial Rd Memphis, TN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully leased with three tenants, providing a turnkey investment.; Stable income stream from existing tenants.; Minimal management needs for the property.
