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

    Market Farms Dr Memphis, TN 38016

    • Land
    • 2.49 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Market Farms Dr

    Lot size
    2.49 lot acres
    Property type
    Land

    Description

    This exceptional 2.49-acre land parcel presents a remarkable investment opportunity in the desirable Wolfchase area of Memphis, Tennessee. Located on Market Farms Drive in Shelby County, zip code 38016, this property boasts a prime location with convenient access to Germantown Parkway via a signaled intersection. The site is pad-ready, eliminating significant pre-development hurdles and accelerating the timeline for construction. Its zoning designation is Planned Development, offering flexibility for a variety of commercial and residential uses. The property's substantial size provides ample space for a diverse range of development projects, catering to various needs and scales. Given its strategic location in a thriving area with strong demographics and high visibility, this land parcel is poised for significant appreciation and offers exceptional potential for long-term returns. The coordinates are 35.18688598 latitude and -89.79892416 longitude. This is a rare opportunity to acquire a well-situated, ready-to-develop parcel in a high-demand market. Serious inquiries are encouraged.

    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
    -89.7989
    Latitude
    35.1869

    Comparable in this City

    • Value Estimation by Request
      15.00 Acres

      10111 Houston Levee Rd. Canada Rd And Cobb Rd

      Land • 15.00 Acres
      10111 Houston Levee Rd. Canada Rd And Cobb Rd, Memphis, TN 38016
      View Details
    • Value Estimation by Request
      2.67 Acres

      Lp Dexter Spg

      Land • 2.67 Acres
      Lp Dexter Spg, Memphis, TN 38016
      View Details
    • Value Estimation by Request
      0.66 Acres

      2288 Germantown Pkwy

      Land • 0.66 Acres
      2288 Germantown Pkwy, Memphis, TN 38016
      View Details
    • Value Estimation by Request
      24.47 Acres

      1277 Dexter Ln

      Land • 24.47 Acres
      1277 Dexter Ln, Memphis, TN 38016
      View Details
    • Value Estimation by Request
      2.11 Acres

      1599 Appling Care Ln

      Land • 2.11 Acres
      1599 Appling Care Ln, Cordova, TN 38016
      View Details
    • Value Estimation by Request
      0.60 Acres

      2281 Germantown Pkwy

      Land • 1 SF
      2281 Germantown Pkwy, Memphis, TN 38016
      View Details

    Similar Nearby for Sale

    • $345,000
      2.11 Acres

      Cordova Commercial Land - $345,000

      2.11 Acres, Prime Cordova Location
      1599 Appling Care Ln, Cordova, TN 38016
      View Details
    • $96,000
      3.24 Acres

      Land For Sale, Cordova, TN

      3.24 acre land parcel available in Cordova, Tennessee.
      Oldham Cv, Cordova, TN 38016
      View Details
    • $3,593,700
      15.00 Acres

      Highway 64 Commercial Land

      15 Acres, Prime Cordova Location
      10111 Houston Levee Rd. Canada Rd And Cobb Rd, Memphis, TN 38016
      View Details
    • Contact for pricing

      500-Unit Community Value-Add Opportunity

      500-unit community near Germantown Parkway, Memphis. Value-add potential.
      9135 Morning Ridge Rd, Cordova, TN 38016
      View Details
    • Contact for pricing

      196-Unit Multifamily Community Frontage

      196-unit multifamily community with frontage on Germantown Parkway.
      7965 Humphreys Hill Dr, Cordova, TN 38016
      View Details
    • $249,900

      Low-Maintenance Condo with Modern Kitchen

      Charming 2-bedroom condo with updated kitchen and convenient amenities.
      1753 Appling Oaks Cir, Cordova, TN 38016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      83,635 SF

      Cordova, TN Land Lease Opportunity

      Prime 1.927-acre lot, high visibility.
      0 Bellevue Pkwy, Memphis, TN 38016
      View Details
    • Contact for pricing
      1 SF

      Memphis Commercial Land Opportunity

      0.6-acre lot in thriving Memphis shopping center.
      2281 Germantown Pkwy, Memphis, TN 38016
      View Details
    • Contact for pricing

      Prime Commercial Land For Rent

      Commercial land for rent adjacent to IKEA and hotels.
      2281 N Germantown Pkwy, Cordova, TN 38016
      View Details
    • Contact for pricing

      Retail Outparcel in Cordova Submarket

      Retail outparcel available in the Wolfchase trade area.
      2335 N Germantown Pkwy, Cordova, TN 38016
      View Details
    • Contact for pricing
      228,796 SF

      Dexter Lake Retail Opportunity

      Memphis Retail Space: 5,000 SF Available
      0 Germantown Pkwy & Dexter Rd, Memphis, TN 38016
      View Details
    • $16 SF/Yr
      61,333 SF

      Shops at Rock Creek Office Suites

      Memphis, TN Office Space Available
      2362-2382 Germantown Pkwy, Memphis, TN 38016
      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.
    Market Farms Dr
    Memphis, TN 38016
    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!