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    Property profile & analytics

    3265 Watkins St Memphis, TN 38127

    • Retail properties & Spaces
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 3265 Watkins St

    Property type
    Retail properties & Spaces

    Description

    This exceptional retail opportunity presents three available spaces in a prime Memphis location at 3257-3265 N Watkins St, zip code 38127, Shelby County, Tennessee. The spaces range in size from a generous 800 square feet to a substantial 3,000 square feet, offering flexibility for various retail businesses. Each space benefits from excellent visibility on Watkins Street, ensuring high foot traffic and brand recognition. Ten convenient parking spaces are available for customers and employees. The property's strategic location provides easy access to the I-40/I-69 interchange via Watkins Street, enhancing accessibility for customers and employees alike. This property is classified as street retail and offers multiple tenancies. The address is 3265 N Watkins St, Memphis, TN. This is an ideal location for businesses seeking high visibility and convenient access to major transportation routes in a thriving Memphis commercial district. The property is situated at latitude 35.2147751 and longitude -90.0038404.

    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
    -90.0038
    Latitude
    35.2148

    Comparable in this City

    • Value Estimation by Request
      3,212 SF

      3219-3225 Watkins St

      Retail properties & Spaces • 3,212 SF
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    • Value Estimation by Request
      141,611 SF

      2575-2632 Frayser Blvd

      Lifestyle centers • 141,611 SF
      2575-2632 Frayser Blvd, Memphis, TN 38127
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    • Value Estimation by Request
      5.10 Acres

      4022 Thomas St

      Retail properties & Spaces • 5.10 Acres
      4022 Thomas St, Memphis, TN 38127
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    • Value Estimation by Request

      2274 Frayser Blvd

      Retail properties & Spaces
      2274 Frayser Blvd, Memphis, TN 38127
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    • Value Estimation by Request
      1,260 SF

      2939 Overton Xing St

      AUTO REPAIR, GARAGE • 1,260 SF
      2939 Overton Xing St, Memphis, TN 38127-9027
      View Details
    • Value Estimation by Request
      6,840 SF

      2629 Overton Xing St

      RETAIL STORES (PERSONAL SERVICES) • 6,840 SF
      2629 Overton Xing St, Memphis, TN 38127-8612
      View Details

    Similar Nearby for Sale

    • $195,000

      Restaurant, Warehouse, and Land Package

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      3145 N Watkins St, Memphis, TN 38127
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    • $849,900
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      Prime Memphis Commercial Property

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      7,000 SF

      Retail Space on Watkins Street

      7,000 SF retail space on 1.069 AC for sale.
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    • $229,900
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      Operating Auto Shop For Sale

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    Similar Nearby for Lease

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      30,948 SF

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      800 SF

      Retail Spaces on Watkins Street

      Retail spaces available, excellent visibility, minutes from I-40/I-69.
      3257-3263 N Watkins St, Memphis, TN 38127
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      Frayser Boulevard Retail Space Available

      Retail space for lease in Memphis neighborhood center.
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      5,777 SF

      Retail Spaces in High-Traffic Area

      Retail spaces available near Nike and Amazon distribution centers.
      2570-2590 Frayser Blvd, Memphis, TN 38127
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      Retail Spaces in Strip Center

      Retail spaces available in a strip center.
      3257-3265 N Watkins St, Memphis, TN 38127
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      7,000 SF

      Retail Spaces in Strip Center

      Retail spaces available in a strip center.
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    3265 Watkins St
    Memphis, TN 38127
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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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