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    5049 Summer Ave Memphis, TN 38122

    • Banks
    • 4,096 SF
    • 0.67 lot acres
    For Lease
    View listing
    Value Estimation
    $515,000
    Last Sale
    Aug 03, 2022
    $585,800
    Location Intelligence
    Property ID
    US80-1264688
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • ATM (Suntrust Bank) / Atm

    Property Details for 5049 Summer Ave

    Year built
    1974
    Lot size
    0.67 lot acres
    Property size
    4,096 SF
    Zone code
    CMU-3
    Property type
    Banks
    APN
    063-058- - -00008
    APU
    6305800008

    Description

    This exceptional 4,183 square foot former bank branch, situated on a 0.96-acre lot in Shelby County's East Retail submarket, presents a unique opportunity. The single-story, Class B building, constructed in 1974, boasts a prime location at a hard corner on Summer Avenue, offering excellent visibility and accessibility. The property features a two-lane drive-thru, 37 parking spaces, and is zoned CMU-3, allowing for a variety of commercial uses including office, retail, and medical. Its strategic location across from three shopping centers with national tenants, and within five miles of the University of Memphis, government buildings, and major interstates (I-40 and I-240), ensures high traffic counts (25,800 vehicles daily). The property is currently vacant and available for lease, offering the flexibility to renovate the existing structure or build to suit. The property's strong co-tenancy, high visibility, and convenient location make it an ideal investment for businesses seeking a prominent presence in a thriving Memphis market. Annual property taxes are $3.45 per square foot. The APN is 06-3058-0-0008.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $465,000

    • CAP approach

      CAP return
      Estimation
      6%
      $645,000
      6.5%
      $630,000
      7%
      $675,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $670,000
      Geo Method
      $650,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $640,000
      Retail
      $575,000
      Mixed-Use
      $545,000
      Hospitality
      $605,000
      Educational
      $655,000
      Residential Income
      $535,000
      Energy
      $730,000
      Income-Based Land
      $530,000
      Food Service
      $545,000

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8922
    Latitude
    35.1499
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $14,274
    $63,920
    $170,400
    $234,320
    -
    $159,800
    $426,000
    $585,800

    Comparable in this City

    • Value Estimation
      $295,000
      5,615 SF

      4330 Summer Ave

      FINANCIAL BUILDING • 5,615 SF
      4330 Summer Ave, Memphis, TN 38122-4000
      View Details
    • Value Estimation
      $415,000
      2,942 SF

      4750 Summer Ave

      FINANCIAL BUILDING • 2,942 SF
      4750 Summer Ave, Memphis, TN 38122-4728
      View Details
    • Value Estimation
      $285,000
      6,930 SF

      4383 Summer Ave

      FINANCIAL BUILDING • 6,930 SF
      4383 Summer Ave, Memphis, TN 38122-4038
      View Details
    • Value Estimation by Request
      2,197 SF

      799 National St

      RETAIL STORES (PERSONAL SERVICES) • 2,197 SF
      799 National St, Memphis, TN 38122-3327
      View Details
    • Value Estimation by Request
      2,400 SF

      1011 Berclair Rd

      LAUNDROMAT (SELF-SERVICE) • 2,400 SF
      1011 Berclair Rd, Memphis, TN 38122-2729
      View Details
    • Value Estimation
      $245,000
      2,382 SF

      758 National St

      RETAIL STORES (PERSONAL SERVICES) • 2,382 SF
      758 National St, Memphis, TN 38122-3622
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,407 SF

      Retail Space on Summer Avenue

      Retail property surrounded by prominent retailers with high traffic counts.
      3717 Summer Ave, Memphis, TN 38122
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      Turnkey Memphis Commercial Building For Sale

      Established commercial building with equipment, inventory, and delivery vans included.
      3369 Macon Rd, Memphis, TN 38122
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      Restaurant and Retail Space Available

      Restaurant and retail property with existing infrastructure ready for business.
      3397 Summer Ave, Memphis, TN 38122
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    • Contact for pricing
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      Summer Ave Restaurant - Memphis

      Prime East Memphis Restaurant, High Traffic Area
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    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Retail/Office Space on Summer Avenue

      Retail and small office spaces available at high-traffic intersection.
      4000 Summer Ave, Memphis, TN 38122
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    • $145 SF/Yr
      14,490 SF

      Prime Commercial Space For Rent

      Exceptional leasing opportunity in a prominent, accessible location.
      3502 Summer Ave, Memphis, TN 38122
      View Details
    • Contact for pricing

      Retail Building with Drive-Thru

      Proposed retail building with drive-thru on Summer Avenue.
      4307 Summer Ave, Memphis, TN 38122
      View Details
    • $14 SF/Yr
      1,700 SF

      Retail Space at Summer Avenue

      Retail space for lease at a high-traffic intersection.
      3393-3437 Summer Ave, Memphis, TN 38122
      View Details
    • Contact for pricing
      1,370 SF

      Retail Space on Summer Avenue

      Retail space with high visibility and access on Summer Avenue.
      4235 Summer Ave, Memphis, TN 38122
      View Details
    • $10 SF/Yr
      5,660 SF

      Memphis Retail & Industrial Space

      5,660 SF Available - Excellent Location
      4957 Summer Ave, Memphis, TN 38122
      View Details
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    5049 Summer Ave
    Memphis, TN 38122
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    Realmo Value Estimation

    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.

    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.

    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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