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

    N Highway 51 Millington, TN 38053

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,250,000

    Commercial land with highway frontage near I-385 and baseball stadium.

    Type:LAND
    Lot size:
    7.31 Acres
    Added:
    Sep 25, 2025
    Days on Market:
    189
    Last Refresh:
    Mar 29 at 8:59 pm

    Property Features for N Highway 51

    General Information

    Standard status
    Active
    Lot size
    7.31 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Carson Claybrook
    Carson Claybrook

    Listing agent Carson Claybrook License #314998

    Listing office Cushman & Wakefield | Commercial Advisors - Memphis

    Listing date Sep 25, 2025

    Source Moodyscre

    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 Cushman & Wakefield | Commercial Advisors - Memphis

    Overview

    Highway 51 Frontage Land

    This commercial land offers 441 +/- feet of frontage on Highway 51. The property is located less than a mile from I-385 and is in close proximity to the USA Baseball Stadium Complex. It is zoned B-2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Millington
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9682
    Latitude
    35.2856

    Nearby Similar for Sale

    • $392,500

      Event Center on 8.5 Acres

      Event center with commercial kitchen and ample parking.
      901 FITE, Millington, TN 38053
      View Details
    • $180,000

      Corner Lot on Austin Peay

      2-acre corner lot with utilities in place.
      0 GRAGG, Unincorporated, TN 38053
      View Details
    • $925,000

      107-Acre Land with 10-Acre Lake

      Remarkable 107.2-acre property with a 10-acre lake in Tipton County.
      0 DIXON, Unincorporated, TN 38053
      View Details
    • $29,900

      Industrial Land Near Millington, TN

      1.4-acre industrial lot zoned EMP, ideal for manufacturing, warehousing, logistics.
      5918 Millington Rd, Millington, TN 38053
      View Details
    • $2,000,000

      Commercial Building in Millington, TN

      Commercial building for sale in Millington, Tennessee.
      6347 Navy Rd., Millington, TN 38053
      View Details
    • $364,900

      Millington Commercial Building For Sale

      Modern commercial building with versatile office spaces in prime location.
      8098 N US 51, Millington, TN 38053
      View Details
    • $114,999

      Expansive Land Near Millington Amenities

      7.48-acre lot near Millington, ideal for residential development.
      0 Bethuel Rd Lot 12, Millington, TN 38053
      View Details
    • $119,999

      Residential Land Near Golf Course

      7.53-acre lot near amenities and Naval Support Activity Base.
      0 Bethuel Rd Lot 13, Millington, TN 38053
      View Details
    • $114,999

      Expansive Land Near Millington Amenities

      7.43-acre lot near Orgill Golf Course and NSA Mid-South.
      0 Bethuel Rd Lot 11, Millington, TN 38053
      View Details
    • $119,999

      Expansive Land Near Orgill Golf

      7.56-acre lot near Millington, ideal for residential development.
      0 Bethuel Rd Lot 14, Millington, TN 38053
      View Details
    • $500,000

      Millington Industrial Land Opportunity

      21 acres of industrial land in Millington, Tennessee.
      000 SHELBY, Millington, TN 38053
      View Details
    • $145,000

      Residential Land in Unincorporated Shelby

      3.35 acres for building a dream home in Tennessee.
      8285 BRUNSWICK, Unincorporated, TN 38053
      View Details

    FAQs

    What type of property is this?
    Land - Commercial land with highway frontage near I-385 and baseball stadium.
    Where is this land located?
    The property is located at N Highway 51 Millington, TN.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: 441 +/- feet of Hwy 51 Frontage; Zoned B‑2; Less than a mile from I‑385
    (901) 252-6483
    We can help!
    Listing Contact
    Carson Claybrook
    Carson Claybrook
    Real Estate License ID: 314998
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!