247 N Cleveland St Memphis, TN 38104
Retail space for sale in a key Midtown location.
- Added:
- Jul 8, 2022
- Days on Market:
- 1465
- Last Refresh:
- Jul 5 at 12:17 pm
Property Features for 247 N Cleveland St
General Information
- Standard status
- Active
- Size
- 4,840 SF
- Property subtype
- Retail
Listing office Crye-Leike Commercial Memphis
Listing date Jul 8, 2022
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 Crye-Leike Commercial Memphis
Investment Insights
Based on property information with market context.
Key Highlights
- Prime location in a key Retail District of Midtown.
- Across the street from Krogter.
- Close proximity to the $250M Crosstown Concourse re‑development.
Local Financial Insights For Retail
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 | $72.6k | $15.00 |
| − Vacancy | −$3.6k | −$0.75 |
| EGI | $69.0k | $14.25 |
| − OpEx | −$20.7k | −$4.27 |
| NOI | $48.3k | $9.98 |
