Well-Maintained Office
For Sale
Contact for pricing
8039 Stage Hills Blvd, Memphis, TN 38133
Well-maintained office property with 5 of 6 new HVAC units.
Property Size14,260 SF
Price / SF$175.32
Days on Market176
Property Features for 8039 Stage Hills Blvd
General Information
Standard status
Active
Size
14,260 SF
Property subtype
Office
Occupancy
33%
Lease Type
NNN
Investment Type
Sale/Leaseback
Net Operating Income
$57,276
Building Details
Year Built
1999
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Crye-Leike Commercial Memphis
Listed By:
Andy Walker · License #TN 335853
Source:
Crexi
Added: Mar 17
Changed: Sep 4
Last Checked: Sep 8 at 7:01AM
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 Crye-Leike Commercial Memphis
Investment Insights
Based on property information with market context.
Well-maintained office property offered for sale. The building includes 5 of 6 new HVAC units, supporting the property’s overall operational readiness.
The property is located in the very close vicinity to St Francis Bartlett and within the Wolfchase trade area.
This is a purpose-built office asset designed to accommodate office use.
The property is located in the very close vicinity to St Francis Bartlett and within the Wolfchase trade area.
This is a purpose-built office asset designed to accommodate office use.
Key Highlights
- Office property built in 1999
- Well‑maintained office building
- 5 of 6 HVAC units are new
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
$218,178
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
8.73%
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%
$4,363,560
$4.4M
Cap Rate 7%
$3,116,829
$3.1M
Cap Rate 9%
$2,424,200
$2.4M
Market Conditions
NOI Build-Up for 14,260 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
$342.2K $24.00/SF
− Vacancy
−$51.3K −$3.60/SF
EGI
$290.9K $20.40/SF
− OpEx
−$72.7K −$5.10/SF
NOI
$218.2K $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%
$4,363,560
Cap Rate 7%
$3,116,829
Cap Rate 9%
$2,424,200
Alternative Uses
Best Use
Office B
$3.12M
$2.73M – $3.64M
NOI $218,178 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.21M
$3.69M – $4.92M
NOI $295,011 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,230
Businesses Nearby
Explore this area
Business Placement
Demographics for 38133, TN
22,482
Population
8,336
Households
2.7
Avg Household Size
37
Median Age
33%
College-Educated
91%
High-School Grad
13.0 sq mi
ZIP Area
1,729
Density / Sq Mi
$82,485
Median Household Income
$46,522
Median Earnings
$1,449
Median Rent
$234,800
Median Home Value
Market
Vacancy Rate% for Office in Memphis, TN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office property with 5 of 6 new HVAC units.
Where is this office building located?
The property is located at 8039 Stage Hills Blvd Memphis, TN.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Office property built in 1999; Well‑maintained office building; 5 of 6 HVAC units are new
