Freestanding Single-Story Office
For Sale
Contact for pricing
988 Reddoch Cove, Memphis, TN 38119
CMU-1 zoning and front-door parking create a practical setting for office and professional service users.
Property Size2,200 SF
Lot Size0.27 Acres
Price / SF$295.45
Days on Market56
Property Features for 988 Reddoch Cove
General Information
Standard status
Active
Size
2,200 SF
Lot size
0.27 Acres
Property subtype
Office
Zoning
CMU-1
Site & Location
Neighborhood
Brookfield
Building Details
Buildings
1
Stories
1
Listing Agency:
Gill Properties Nashville
Listed By:
Jennifer Stewart · License #TN 301239
(901) 652-3778
Source:
Crexi
Added: Sep 10
Changed: Oct 25
Last Checked: Nov 3 at 6:07AM
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 Gill Properties Nashville
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Investment Insights
Based on property information with market context.
This freestanding office property provides approximately 2,200 square feet in a single-story layout. The building offers a professional setting with parking directly at the front entrance and can accommodate office, professional service, educational, or similar uses. CMU-1 zoning adds flexibility for potential commercial applications.
The property occupies approximately 0.27 acres in East Memphis, just off the Poplar Avenue corridor near Kirby Parkway. Its position provides access to nearby residential, retail, medical, and professional areas while maintaining a separate, approachable office environment.
The property occupies approximately 0.27 acres in East Memphis, just off the Poplar Avenue corridor near Kirby Parkway. Its position provides access to nearby residential, retail, medical, and professional areas while maintaining a separate, approachable office environment.
Key Highlights
- Approximately 2,200 square feet of single‑story office space
- Freestanding building with parking at the front entrance
- Approximately 0.27 acres in East Memphis
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,660
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$673,200
$673.2K
Cap Rate 7%
$480,857
$480.9K
Cap Rate 9%
$374,000
$374.0K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$52.8K $24.00/SF
− Vacancy
−$7.9K −$3.60/SF
EGI
$44.9K $20.40/SF
− OpEx
−$11.2K −$5.10/SF
NOI
$33.7K $15.30/SF
Area
Memphis, TN
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$673,200
Cap Rate 7%
$480,857
Cap Rate 9%
$374,000
Alternative Uses
Best Use
Office B
$480.9K
$420.8K – $561.0K
NOI $33,660 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$650.2K
$568.9K – $758.6K
NOI $45,514 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,861
Businesses Nearby
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Business Placement
Demographics for 38119, TN
23,997
Population
10,521
Households
2.3
Avg Household Size
39
Median Age
53%
College-Educated
96%
High-School Grad
8.8 sq mi
ZIP Area
2,727
Density / Sq Mi
$86,325
Median Household Income
$53,068
Median Earnings
$1,336
Median Rent
$279,100
Median Home Value
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Market
Vacancy Rate% for Office in Memphis, TN
Frequently Asked Questions
What type of property is this?
Office building - CMU-1 zoning and front-door parking create a practical setting for office and professional service users.
Where is this office building located?
The property is located at 988 Reddoch Cove Memphis, TN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 2,200 square feet of single‑story office space; Freestanding building with parking at the front entrance; Approximately 0.27 acres in East Memphis
