Freestanding Office
For Sale
$1,750,000
767 E Brookhaven Cir, Memphis, TN 38117
Class A office property in East Memphis near major thoroughfares and national retailers.
Property Size5,776 SF
Days on Market194
Property Features for 767 E Brookhaven Cir
General Information
Standard status
Active
Size
5,776 SF
Class
A
Property subtype
Multi Tenant Office
Building Details
Building Size
5,776 SF
Year Built
1987
Buildings
1
Abandoned
No
Properties For Sale
at 767 E Brookhaven Cir Contact us- Size
- 2,888 SF
- Lease Type
- Modified Gross
767 E Brookhaven Circle
Listing Agency:
NAI | Saig Company
(901) 526-3100
Listed By:
Brian Califf · License ##299669
(901) 526-3100
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 6:18PM
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
Investment Insights
Based on property information with market context.
This freestanding office building was constructed in 1987 and is identified as a Class A property. The building is positioned within East Memphis and is offered for sale.
The property is located near major thoroughfares and national retailers, providing access to established commercial surroundings. Its standalone office format distinguishes it from multi-tenant office space.
The property is located near major thoroughfares and national retailers, providing access to established commercial surroundings. Its standalone office format distinguishes it from multi-tenant office space.
Key Highlights
- Freestanding office building
- Class A property
- Built in 1987
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
$88,373
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
5.05%
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%
$1,767,460
$1.8M
Cap Rate 7%
$1,262,471
$1.3M
Cap Rate 9%
$981,922
$981.9K
Market Conditions
NOI Build-Up for 5,776 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
$138.6K $24.00/SF
− Vacancy
−$20.8K −$3.60/SF
EGI
$117.8K $20.40/SF
− OpEx
−$29.5K −$5.10/SF
NOI
$88.4K $15.30/SF
Area
Memphis, TN
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,767,460
Cap Rate 7%
$1,262,471
Cap Rate 9%
$981,922
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $88,373 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.49M – $1.99M
NOI $119,494 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,599
Businesses Nearby
Explore this area
Business Placement
Demographics for 38117, TN
27,138
Population
12,045
Households
2.3
Avg Household Size
40
Median Age
60%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
2,887
Density / Sq Mi
$93,688
Median Household Income
$52,596
Median Earnings
$1,353
Median Rent
$287,500
Median Home Value
Market
Vacancy Rate% for Office in Memphis, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Class A office property in East Memphis near major thoroughfares and national retailers.
Where is this office building located?
The property is located at 767 E Brookhaven Cir Memphis, TN.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Freestanding office building; Class A property; Built in 1987
