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    Downtown Memphis Commercial Property Title is generated by Realmo AI

    554 Adams Ave, Memphis, TN 38103

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    25,668 sq ft commercial property in Downtown Memphis.

    Type:Industrial
    Property size:
    25,668 SF
    Lot size:
    0.67 Acres
    Price / SF:
    $38/SF
    Added:
    Feb 21, 2024
    Days on Market:
    833
    Last Refresh:
    May 13 at 8:09 pm

    Property Features for 554 Adams Ave

    General Information

    Standard status
    Active
    Size
    25,668 SF
    Lot size
    0.67 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1967

    We can help!

    Listing Contact
    Stefan Feick

    Listing agent Stefan Feick License #TN

    Listing office Memphis Commercial & Industrial

    Listing date Feb 21, 2024

    Source Crexi

    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 Memphis Commercial & Industrial

    HighLights

    • Prime downtown Memphis location, just 4 blocks from the Courthouse
    • Large commercial property with 25,668 sq. ft. total space (2,575 sq. ft. office, 23,093 sq. ft. warehouse)
    • Multiple loading docks and 3‑phase electricity
    • High visibility corner lot on Adams, Washington, and Dunlap Streets with exterior boom sign
    • Repair area with HVAC
    • Potential for condo or office conversion

    Overview

    Located at 554 Adams St. in Downtown Memphis, this commercial property offers a total of 25,668 sq. ft. The layout includes 2,575 sq. ft. of office space and 23,093 sq. ft. of warehouse space, situated on a 0.67-acre lot. The building is equipped with multiple loading docks, 3-phase electricity, and a repair area with HVAC. Positioned four blocks from the Memphis Courthouse and with convenient access to FedEx Forum and City Hall, the property is suitable for various business uses and has potential for condo or office conversion. The corner lot fronts Adams, Washington, and Dunlap Streets and features a prominent exterior boom sign, providing visibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    High Gear Transmission Auto Repair Shop

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Ben & Jerry's — 261 Riverside Dr, Memphis, TN 38103
    • Laura Lee's Lunchables — 345 madison ave, memphis, tn 38103
    • Smoke and Ice — 668 Union Ave, Memphis, TN 38103
    • Hudson Dining Experience — 60 S Main St #209, Memphis, TN 38103
    • Hey Beautiful Bistro — Mobile Unit, Memphis, TN 38103

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0416896
    Latitude
    35.1457966

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    FAQs

    What type of property is this?
    Flex space - 25,668 sq ft commercial property in Downtown Memphis.
    Where is this flex space located?
    The property is located at 554 Adams Ave Memphis, TN.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Prime downtown Memphis location, just 4 blocks from the Courthouse; **Large commercial property with 25,668 sq. ft. total space** (2,575 sq. ft. office, 23,093 sq. ft. warehouse); Multiple loading docks and 3‑phase electricity
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Stefan Feick
    Real Estate License ID: TN
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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