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    543 Mendenhall Rd Memphis, TN 38117

    • Apartment buildings
    • 6.74 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mendenhall Garden Apartments / Apartment Building / Apartment Complex

    Property Details for 543 Mendenhall Rd

    Year built
    1962
    Lot size
    6.74 lot acres
    Property type
    Apartment buildings

    Description

    Exceptional investment opportunity: Mendenhall Gardens, a 82-unit apartment building in Memphis, Tennessee, is offered at $16,700,000. This property boasts a desirable location near the Shelby Farms Greenline trail, connecting to Midtown Memphis and Cordova. Built in 1962, the complex comprises 16 buildings across 2 stories, situated on a 6.74-acre lot. The property features a price per unit of $114,384 and a price per square foot of $75.53. Its prime location in a high-income area of East Memphis offers significant potential for rental growth, catering to both affluent downsizers and younger renters. The proximity to the Chickasaw Country Club and Golf Course presents an additional marketing advantage. The property's strong location and established tenant base make it an attractive investment for those seeking a stable and potentially high-return multifamily asset in a thriving Memphis neighborhood. The address is 543 North Mendenhall Rd, Memphis, TN 38117. This offering is for the portfolio only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8993
    Latitude
    35.1457

    Comparable in this City

    • Value Estimation
      $180,000
      10,135 SF

      728 Brookhaven Cir

      APARTMENT HOUSE (5+ UNITS) • 10,135 SF
      728 Brookhaven Cir, Memphis, TN 38117
      View Details
    • Value Estimation
      $3,680,000
      7,560 SF

      4905 Shifri Ave

      APARTMENT HOUSE (5+ UNITS) • 7,560 SF
      4905 Shifri Ave, Memphis, TN 38117-2057
      View Details
    • Value Estimation
      $3,680,000
      7,560 SF

      4935 Shifri Ave

      APARTMENT HOUSE (5+ UNITS) • 7,560 SF
      4935 Shifri Ave, Memphis, TN 38117-2059
      View Details
    • Value Estimation
      $3,500,000
      7,408 SF

      1460 Cherry Rd

      APARTMENT HOUSE (5+ UNITS) • 7,408 SF
      1460 Cherry Rd, Memphis, TN 38117-6415
      View Details
    • Value Estimation
      $3,680,000
      4,712 SF

      540 Shifri

      APARTMENT HOUSE (5+ UNITS) • 4,712 SF
      540 Shifri, Memphis, TN 38117
      View Details
    • Value Estimation
      $3,680,000
      7,560 SF

      4919 Shifri Ave

      APARTMENT HOUSE (5+ UNITS) • 7,560 SF
      4919 Shifri Ave, Memphis, TN 38117-2056
      View Details

    Similar Nearby for Sale

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      Prime East Memphis Land

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    • $1,750,000
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      East Memphis Freestanding Office Building

      Class A office building in the heart of East Memphis.
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    Similar Nearby for Lease

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      45,862 SF

      4860 Poplar Ave

      Individual retail properties • 45,862 SF
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      Office Park with Overhead Access

      155,000 SF office park with convenient highway access.
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      1,564 SF

      East Memphis Retail Space Available

      7,235 SF retail building in prime East Memphis location.
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      Retail spaces available in established shopping center with diverse tenants.
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      5,445 SF

      Prime Location Office Space

      Office space with proximity to restaurants and shopping centers.
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      View Details
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    543 Mendenhall Rd
    Memphis, TN 38117
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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.

    More about this property
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