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

    1351 Holmes Rd 1374 W Holmes Rd S 3 St Memphis, TN 38109

    • Land
    • 25.20 lot acres
    For Sale
    View listing
    $499,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1351 Holmes Rd 1374 W Holmes Rd S 3 St

    Lot size
    25.20 lot acres
    Property type
    Land

    Description

    This exceptional 25.2-acre commercial property boasts significant frontage on the heavily trafficked US Highway 61, a key artery connecting northwest Mississippi and Memphis, Tennessee. The land comprises three separate parcels: two adjacent tracts divided by West Holmes Road, and a third located approximately 1,580 feet southwest along US Hwy 61. Zoning offers diverse development potential. Thirteen acres are zoned Mixed Use Commercial, providing flexibility for various commercial ventures. An additional 7.44 acres are zoned Residential, suitable for potential home lots. Finally, 6 and 4.8 acres are zoned Heavy Industrial, opening opportunities for warehousing or light industrial uses. The property's strategic location offers unparalleled visibility and accessibility. Its proximity to the Tennessee/Mississippi state line (1.25 miles) and the Tunica County, MS casinos (approximately 15 miles southwest) further enhances its investment appeal. Adding to its unique features, a portion of the property enjoys waterfront access to Robco Lake. With approximately 2,100 feet of frontage on US Hwy 61, this property presents a rare opportunity for significant development and high return on investment. Downtown Memphis is conveniently located approximately 10 miles to the north. The property's three parcels offer a unique opportunity for a variety of development options, including self-storage, light industrial, billboards, or retail uses. The Assessor's Parcel Numbers (APN) are 08207100083, 08205200082, and 0827100085. The asking price is $499,000.

    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
    -90.1128
    Latitude
    35.0058

    Comparable in this City

    • Value Estimation by Request
      25.20 Acres

      1351 Holmes Rd

      Land • 25.20 Acres
      1351 Holmes Rd, Memphis, TN 38109
      View Details
    • Value Estimation by Request
      40.00 Acres

      Holmes Rd

      Land • 40.00 Acres
      0 Holmes Rd, Memphis, TN 38109
      View Details
    • Value Estimation by Request
      0.71 Acres

      4010 Horn Lake Rd

      Restaurants • 0.71 Acres
      4010 Horn Lake Rd, Memphis, TN 38109
      View Details
    • Value Estimation by Request
      582.00 Acres

      00 Paul Riverport Rd

      Farms • 582.00 Acres
      00 Paul Riverport Rd, Memphis, TN 38109
      View Details
    • Value Estimation by Request
      0.58 Acres

      W Parkway

      Land • 0.58 Acres
      W Parkway, Memphis, TN 38109
      View Details
    • Value Estimation by Request
      7.24 Acres

      4921 Us 61 Hwy

      Land • 7.24 Acres
      4921 Us 61 Hwy, Memphis, TN 38109
      View Details

    Similar Nearby for Sale

    • $249,000
      40 SF

      Land For Sale

      Land located between Tulane Road and Horn Lake Road.
      Holmes Rd, Memphis, TN 38109
      View Details
    • $249,000
      40.00 Acres

      Memphis Commercial Land - 40 Acres

      Prime 40-acre commercial tract in Memphis, TN.
      0 Holmes Rd, Memphis, TN 38109
      View Details
    • $499,000
      25.20 Acres

      Memphis Hwy 61 Commercial Land

      High-traffic US Hwy 61 frontage, diverse zoning.
      1351 Holmes Rd 1374 W Holmes Rd S 3 St, Memphis, TN 38109
      View Details
    • $175,000
      0.58 Acres

      Memphis Commercial Land - High Traffic

      .58 acre lot, prime commercial location.
      W Parkway, Memphis, TN 38109
      View Details
    • $3,900,000

      Land For Sale Memphis

      Land available for sale in Memphis, Tennessee.
      Brooks Rd, Memphis, TN 38109
      View Details
    • $1,500,000

      Land For Sale Memphis

      Land available for sale in Memphis, Tennessee.
      Tully Rd, Memphis, TN 38109
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      582 AC Industrial Land Available

      582 AC industrial land for lease or sale in Memphis.
      Paul R Lowry Rd, Memphis, TN 38109
      View Details
    • Contact for pricing
      15,000 SF

      Warehouse/Shop on 5.44 Acres

      15,000 SF warehouse/shop on 5.44 acres for lease/sale.
      2964 S 3Rd St, Memphis, TN 38109
      View Details
    • Contact for pricing
      105,310 SF

      Secured Industrial Park Warehouse Space

      Gated industrial park with ample loading and 18' clear height.
      234-350 Titan Dr, Memphis, TN 38109
      View Details
    • Contact for pricing
      1,200 SF

      Germantown Retail, Restaurant, Medical Space

      Class A retail space available in new Germantown development.
      Winchester Rd, Germantown, TN 38109
      View Details
    • Contact for pricing
      51,081 SF

      Memphis Manufacturing and Distribution Space

      Manufacturing and distribution space available in Memphis, Tennessee.
      2140 S 3Rd St, Memphis, TN 38109
      View Details
    • Contact for pricing
      162,000 SF

      Memphis Industrial Distribution Space

      Large divisible warehouse, prime location.
      237 Belz Blvd, Memphis, TN 38109
      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.
    1351 Holmes Rd 1374 W Holmes Rd S 3 St
    Memphis, TN 38109
    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!