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    Class A Office Building Title is generated by Realmo AI

    1810 Pyramid Pl, Memphis, TN 38132

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    Four-story Class A office building in Nonconnah Business Park.

    Type:Office
    Property size:
    110,826 SF
    Added:
    Sep 12, 2022
    Days on Market:
    1362
    Last Refresh:
    May 13 at 8:10 pm

    Property Features for 1810 Pyramid Pl

    General Information

    Standard status
    Active
    Size
    110,826 SF
    Property subtype
    Office

    Building Details

    Year Built
    1998

    Spaces For Lease

    at 1810 Pyramid Pl Contact us

    Suite 200 $19/Mo

    Size
    27,613 SF
    Type
    Office
    17 conference rooms, 1 bullpen, 1 breakroom
    Contact us

    Suite 400 $16/Mo

    Size
    27,935 SF
    Type
    Office
    27 window offices, 16 interior offices, 1 bullpen, 1 break room, 1 workroom, 3 conference...
    show more
    Contact us

    Suite 300 $17/Mo

    Size
    27,935 SF
    Type
    Office
    Reception Area, 28 Window Offices, 4 Interior Offices, 1 Conference Room, 1 Bullpen,...
    show more
    Contact us

    We can help!

    Listing Contact
    Shelley Carroll

    Listing agent Shelley Carroll License #TN

    Listing office Boxer Property

    Listing date Sep 12, 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 Boxer Property

    HighLights

    • Class A office building in Memphis' Nonconnah Business Park.
    • Located in an Opportunity Zone.
    • Excellent access to major transportation networks (I‑240, I‑40, I‑55, I‑69) and Memphis International Airport.
    • Features a 110,826 SF office building with 4 floors and 3 loading docks.
    • Includes a 9,040 SF cafeteria with auditorium, and concept machine shop in the connected 1840 building.
    • Secured and gated parking deck with a 5.28/1000 parking ratio and emergency power for the data center and emergency lighting.

    Overview

    Constructed in 1998, 1810 Pyramid Place is a Class A office property situated within a three-building office campus. Located in an Opportunity Zone and Memphis’ Nonconnah Business Park, the property benefits from its accessibility to transportation networks, including the I-240 inner beltway, I-40, I-55, and I-69. Its proximity to Memphis International Airport, the country’s busiest cargo airport, offers a logistical advantage. The building features 110,826 square feet of Class A office space across four floors. It includes three loading docks, an advanced manufacturing technology/testing center, and a 9,040 square foot cafeteria in the connected 1840 building, which also houses an auditorium. Parking is provided at a ratio of 5.28 spaces per 1,000 square feet in a secured and gated parking deck. The property is equipped with emergency power, providing redundant power to the data center and serving as the main emergency power source for emergency lighting.
    Property Profile Location Intelligence

    Current Use by Public Records

    Boxer Property : 1810 ... Real Estate Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0027949
    Latitude
    35.0733133

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    FAQs

    What type of property is this?
    Office building - Four-story Class A office building in Nonconnah Business Park.
    Where is this office building located?
    The property is located at 1810 Pyramid Pl Memphis, TN.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Class A office building in Memphis' Nonconnah Business Park.; Located in an Opportunity Zone.; Excellent access to major transportation networks (I‑240, I‑40, I‑55, I‑69) and Memphis International Airport.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Shelley Carroll
    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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