Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3213 Mendenhall Rd Memphis, TN 38118
    Property profile & analytics

    3213 Mendenhall Rd Memphis, TN 38118

    View on Map
    • Specialty properties
    • 7,010 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • All Things Computer / Computer & Electronic Repair
    • Foggy panda smoke shop / (Bike/Boat/Book/etc) Store

    Property Details for 3213 Mendenhall Rd

    Property size
    7,010 SF
    Property type
    Specialty properties
    Property subtype
    Airport retail

    Description

    This exceptional retail property, located at 3213 S Mendenhall Rd in Memphis, Tennessee (zip code 38118), offers a prime opportunity for businesses seeking high visibility and accessibility. Situated at the busy intersection of S Mendenhall and Knight Arnold Roads, this property benefits from significant daily traffic. The building, which underwent renovations in 2023, comprises 7,010 square feet across four suites within a single building. Currently, one suite with 1,260 square feet is available for lease, representing a minimum divisible space. The property's "Airport" subtype designation suggests proximity to Memphis International Airport, making it particularly attractive to businesses catering to travelers or airport employees. The property's classification as both Retail and Special Purpose indicates its versatility and potential for a range of uses. The address is 3209-3215 S Mendenhall (at Knight Arnold). This location provides excellent exposure and is ideal for service-oriented businesses or retail establishments seeking a high-traffic area. The property's strategic location and recent renovations make it a compelling investment opportunity.

    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
    -89.886
    Latitude
    35.061

    Comparable in this City

    • Value Estimation by Request
      15,900 SF

      3711-3721 Lamar Ave

      Specialty properties • 15,900 SF
      3711-3721 Lamar Ave, Memphis, TN 38118
      View Details
    • Value Estimation by Request
      104,042 SF

      4619 American Way

      Neighborhood centers • 104,042 SF
      4619 American Way, Memphis, TN 38118
      View Details
    • Value Estimation by Request
      146,170 SF

      3099 Perkins Rd

      Power centers • 146,170 SF
      3099 Perkins Rd, Memphis, TN 38118
      View Details
    • Value Estimation by Request
      3,690 SF

      3855 Perkins Rd

      VETERINARY, ANIMAL HOSPITAL • 3,690 SF
      3855 Perkins Rd, Memphis, TN 38118-6329
      View Details
    • Value Estimation by Request
      3,540 SF

      5270 Knight Arnold Rd

      FUNERAL HOME • 3,540 SF
      5270 Knight Arnold Rd, Memphis, TN 38118-3505
      View Details
    • Value Estimation by Request
      4,148 SF

      4066 New Getwell Rd

      VETERINARY, ANIMAL HOSPITAL • 4,148 SF
      4066 New Getwell Rd, Memphis, TN 38118-6017
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      330,910 SF

      Industrial Space Near Airport

      Industrial space with easy access to I-240 and airport.
      3527-3539 Lamar Ave, Memphis, TN 38118
      View Details
    • Contact for pricing

      Retail Opportunity in Memphis Center

      Retail space in AutoZone and Planet Fitness anchored shopping center.
      4657 Knight Arnold Road Ext, Memphis, TN 38118
      View Details
    • $500,000

      Versatile Commercial Property, Memphis

      Adaptable commercial building suitable for various business types.
      3614 S Perkins Rd, Memphis, TN 38118
      View Details
    • Contact for pricing

      Versatile Memphis Event and Spa

      Event center and spa venue in Memphis, Tennessee.
      4280 Cherry Center Dr, Memphis, TN 38118
      View Details
    • $360,000

      Day Care Center Ready Property

      Day care center design with partial remodel in progress.
      3643 Tchulahoma Rd, Memphis, TN 38118
      View Details
    • $515,000

      Versatile Retail Space on Corner Lot

      Retail space suitable for various businesses on a busy corner.
      3745 Outland Rd, Memphis, TN 38118
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Air Trans Road Property For Rent

      Commercial property available for rent near Memphis International Airport.
      4189-4219 Air Trans Rd, Memphis, TN 38118
      View Details
    • Contact for pricing

      Memphis Airport Industrial Park Location

      Located in the heart of Memphis Airport Industrial area.
      3884 Crowfarn Dr, Memphis, TN 38118
      View Details
    • Contact for pricing

      BF Goodrich Blvd Property

      Located near BNSF Intermodal and HWY 78/I-22.
      4210 Bf Goodrich Blvd, Memphis, TN 38118
      View Details
    • $4 SF/Yr

      Memphis Industrial Property For Lease

      Industrial property for lease in Memphis, close to transportation routes.
      3370 Miac Cv, Memphis, TN 38118
      View Details
    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in Memphis, Tennessee.
      4290 Delp St, Memphis, TN 38118
      View Details
    • Contact for pricing

      Industrial Space with Ample Truck Court

      40,000 SF industrial space with office and truck court.
      4140 Bf Goodrich Blvd, Memphis, TN 38118
      View Details
    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.
    3213 Mendenhall Rd
    Memphis, TN 38118
    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

    Thank You for Inquiry
    3213 Mendenhall Rd, Memphis, TN, 38118
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!