Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2964 3Rd St Memphis, TN 38109

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    15,000 SF Warehouse, 5.44 Acres

    Lot size:
    15,000 SF

    Property Features for 2964 3Rd St

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    15,000 SF

    Spaces For Lease

    at 2964 3Rd St, Memphis, TN 38109 Contact us

    We can help!

    Listing Contact
    Henry Webb
    Henry Webb

    Listing Agency: NAI Saig Company Listing Agent: Henry Webb

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 15,000-square-foot warehouse, situated on a spacious 5.44-acre lot in Shelby County, presents a significant opportunity. The property boasts a single-tenant occupancy, offering immediate availability. Key features include three 14' x 14' drive-in doors, providing convenient access for loading and unloading. The warehouse benefits from a 21-foot clear ceiling height, energy-efficient LED lighting, and robust 3-phase power. Newly installed (2023) warehouse heaters ensure year-round comfort. An added 1,500 square feet of office space provides ample administrative area. The entire site is fully fenced and well-lit for enhanced security. Strategically located a half-mile from the I-55 interchange, this property offers excellent accessibility via S 3rd St and Gill Rd. This is an ideal location for businesses requiring substantial warehouse space and convenient access to major transportation routes. The property's size and features make it suitable for a variety of industrial uses. Contact for leasing details.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution Solutions Distribution Center

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0578676
    Latitude
    35.0681369

    Nearby Similar for Lease

    • New
      Contact for pricing

      Clark Tower

      Discover many ways to work your way in Clark Tower
      5100 Poplar Ave, Memphis, TN 38137
      View Details
    • Sponsored
      New
      Contact for pricing

      Southwind Office Center

      Workspaces, services and support to help you work better in Miami Airport
      8295 Tournament Dr, Memphis, TN 38125
      View Details
    • New
      Contact for pricing

      Colonnade

      All-inclusive access to workspace, virtual office and meeting rooms in O'Hare Airport
      1661 International Dr, Memphis, TN 38120
      View Details
    • New
      Contact for pricing

      Triad center I

      Flexible workspace in Minnesota Center
      6000 Poplar Ave, Memphis, TN 38119
      View Details
    • Contact for pricing

      TN, Memphis - S Main Street

      Discover many ways to work your way in AZ, Tempe - Hayden Ferry Lake
      107 Main St, Memphis, TN 38103
      View Details
    • Contact for pricing

      TN, Memphis - Union Avenue

      Discover many ways to work your way in Cornerstone Corporate
      1331 And, Memphis, TN 38104
      View Details
    • $15 SF/Yr
      3,479 SF

      Residential Style Office Buildings For Rent

      Two residential style office buildings for rent near Hwy 70.
      6555 Stage Rd, Memphis, TN 38134
      View Details
    • $19 SF/Yr
      5,389 SF

      Office Space Near I-55 Exit

      Office space available for lease near I-55 Riverside exit.
      5658 S Rex Rd, Memphis, TN 38119
      View Details
    • $20 SF/Yr
      4,822 SF

      Prime Memphis Office Space

      Office space in a vibrant Memphis location, near local hotspots.
      752 Brookhaven Cir, Memphis, TN 38117
      View Details
    • $11 SF/Yr
      1,200 SF

      Memphis Retail Space on Lamar

      Retail suites available for lease on Lamar Avenue, Memphis, TN.
      3711-3721 Lamar Ave, Memphis, TN 38118
      View Details
    • $13 SF/Yr
      13,650 SF

      Former Walgreens Retail Space Available

      Vacant 13,650 SF retail space, formerly Walgreens, available for rent.
      6672 E Shelby Dr, Memphis, TN 38141
      View Details
    • $21 SF/Yr
      3,695 SF

      Office Space in Southwind

      Office space available in a well-established office center.
      8275 Tournament Dr, Memphis, TN 38125
      View Details

    FAQs

    What type of property is this?
    Distribution property - 15,000 SF Warehouse, 5.44 Acres
    Where is this distribution property located?
    The property is located at 2964 3Rd St Memphis, TN.
    What are key features of this property?
    This property features: 15,000 SF warehouse/shop on a 5.44-acre site.; 1,500 SF of office space included.; Fully fenced and lit 5.44-acre lot.
    (901) 526-3100 Call to check price and availability
    Request Owner's contact information
    2964 3Rd St Memphis, TN 38109
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2964 3Rd St
    Memphis, TN 38109
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2964 3Rd St Memphis, TN 38109
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Henry Webb
    Henry Webb
    Real Estate License ID: 351393
    (901) 526-3100 (662) 801-1610
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!