Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3099 Perkins Rd Memphis, TN 38118
    Back to Search
    Property profile & analytics

    3099 Perkins Rd Memphis, TN 38118

    View on Map
    • Power centers
    • 146,170 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Power centers

    Property Details for 3099 Perkins Rd

    Property size
    146,170 SF
    Property type
    Power centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional, newly renovated power center, totaling 146,170 square feet, enjoys a prime location at the bustling intersection of Perkins Road and Knight Arnold Road in Shelby County's Parkway Village. The property boasts excellent visibility and high traffic counts, making it an ideal investment opportunity. Currently featuring a diverse mix of tenants including Advance Auto Parts, SuperLo, Dollar General, MultiLine Furniture, and Central Wigs, the center also includes outparcels occupied by Suntrust Bank, Church's Chicken, and Rally's. The center is anchored by a grocery store. With 24 suites in total, there is currently 33,000 square feet of vacant space available. Individual suites range from a minimum of 1,010 square feet to a maximum contiguous space of 6,000 square feet, offering flexibility for a variety of retail businesses. The single-story building provides easy access and ample parking. This is a rare opportunity to acquire a well-positioned, grocery-anchored power center in a thriving retail corridor. The property benefits from its highly visible corner location and strong tenant mix, presenting a compelling investment prospect with significant upside potential.

    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
    -89.9071
    Latitude
    35.0641

    Comparable in this City

    • Value Estimation by Request
      7,010 SF

      3213 Mendenhall Rd

      Airport retail • 7,010 SF
      3213 Mendenhall Rd, 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

      3290 New Getwell Rd

      Office properties & Spaces
      3290 New Getwell Rd, Memphis, TN 38118
      View Details
    • Value Estimation by Request
      3,149 SF

      3607 Lamar Ave

      SHOPPING CENTER, STRIP CENTER • 3,149 SF
      3607 Lamar Ave, Memphis, TN 38118-2803
      View Details
    • Value Estimation
      $755,000
      25,000 SF

      4312 Winchester Rd

      SHOPPING CENTER, STRIP CENTER • 25,000 SF
      4312 Winchester Rd, Memphis, TN 38118-6243
      View Details
    • Value Estimation
      $1,600,000
      16,200 SF

      4610 Winchester Rd

      SHOPPING CENTER, STRIP CENTER • 16,200 SF
      4610 Winchester Rd, Memphis, TN 38118-5243
      View Details

    Similar Nearby for Sale

    • 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
    • $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
    • Contact for pricing
      8,826 SF

      Prime Bank Building For Sale

      Commercial real estate investment opportunity in a great location.
      3920 Whitebrook Dr, Memphis, TN 38118
      View Details
    • Contact for pricing
      7,457 SF

      Versatile Industrial Property For Sale

      Industrial property suitable for auto repair, warehouse, and retail.
      3230 Linda Dr, 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
    • $450,000
      3,600 SF

      Corner Lot Commercial Space

      3600 SF commercial space on corner lot near I-240.
      3880 Lamar Ave, Memphis, TN 38118
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Grocery Anchored Power Center

      Newly renovated shopping center at a busy intersection.
      3099 S Perkins Rd, Memphis, TN 38118
      View Details
    • Contact for pricing
      7,125 SF

      Retail Space in Memphis Center

      Retail space anchored by Memphis Merit Academy.
      4075 American Way, Memphis, TN 38118
      View Details
    • Contact for pricing
      4,160 SF

      Retail Space on Hard Corner

      Retail property on a hard corner with high traffic.
      4615-4685 American Way, Memphis, TN 38118
      View Details
    • Contact for pricing
      16,400 SF

      Retail Space in Parkway Village

      Retail space for lease in a high-traffic Memphis corridor.
      4657-4701 Knight Arnold Rd, Memphis, TN 38118
      View Details
    • Contact for pricing

      Retail Building For Sublease

      7,545 SF freestanding retail building on 0.87 acres.
      3632 Winplace Rd, Memphis, TN 38118
      View Details
    • Contact for pricing
      17,220 SF

      Memphis Warehouse with Road Visibility

      17,220 SF warehouse with signage opportunity on Democrat Road.
      2899 Business Park Dr, 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.
    3099 Perkins 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
    3099 Perkins 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!