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    1245 N Germantown Pkwy Cordova, TN 38016
    Property profile & analytics

    1245 N Germantown Pkwy Cordova, TN 38016

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    • Strip malls
    • 137,355 SF
    • 14.80 lot acres
    For Sale
    $375,000
    View Listing →
    Germantown Square Outparcel Opportunity For Sale
    $375,000
    1.26 Acres

    Germantown Square Outparcel Opportunity

    Last outparcel available in Germantown Square development.

    1245 N Germantown Pkwy, Cordova, TN 38016
    View Listing
    Property ID
    US80-3371296
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • University of Memphis, Kemmons Wilson Culinary Institute / Higher Secondary School / Public University
    • Mrs. Carolyn's Southern sweets / Specialty Food Shop / Candy Store
    • Amvets Donation Station / Charitable Organization
    • Memphis' Incredible Pizza Company / Restaurant
    • The Tile Shop / Hardware & Home Improvement / Carpet & Flooring Store

    Property Details for 1245 N Germantown Pkwy

    Year built
    2000
    Lot size
    14.80 lot acres
    Property size
    137,355 SF
    Zone code
    CMU-2
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    096-900- - -00583
    APU
    9690000583

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $15,346,000
      Market price range: $11.9M - $34.7M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cordova
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.7974
    Latitude
    35.1598
    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
    $240,976
    $2,132,280
    $1,823,560
    $3,955,840
    -
    $5,330,700
    $4,558,900
    $9,889,600

    Comparable in this City

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      106,290 SF

      9025 Hwy 64

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    • Value Estimation
      $26,820,000
      10,578 SF

      2323 Germantown Pkwy

      SHOPPING CENTER, STRIP CENTER • 10,578 SF
      2323 Germantown Pkwy, Cordova, TN 38016-7406
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    • Value Estimation
      $600,000
      6,234 SF

      8227 Rockcreek Pkwy

      SHOPPING CENTER, STRIP CENTER • 6,234 SF
      8227 Rockcreek Pkwy, Cordova, TN 38016-4594
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    • Value Estimation
      $1,990,000
      17,500 SF

      1890 Berryhill Rd

      SHOPPING CENTER, STRIP CENTER • 17,500 SF
      1890 Berryhill Rd, Cordova, TN 38016-5383
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    • Value Estimation
      $3,645,000
      28,700 SF

      8014 Clb Ctr Dr

      SHOPPING CENTER, STRIP CENTER • 28,700 SF
      8014 Clb Ctr Dr, Cordova, TN 38016-8656
      View Details
    • Value Estimation
      $1,775,000
      13,000 SF

      2845 Houston Levee Rd

      SHOPPING CENTER, STRIP CENTER • 13,000 SF
      2845 Houston Levee Rd, Cordova, TN 38016-0179
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space in Cordova Collection

      Retail spaces available in high-traffic Cordova Corridor shopping center.
      1771 North Germantown Pkwy, Memphis, TN 38016
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      Power Center in Wolfchase Area

      233,981 SF retail center in Memphis' premier shopping area.
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      5,129 SF

      Stand Alone Office/Medical Building

      Renovated office/medical building with ample parking and high visibility.
      1695 Bonnie Ln, Memphis, TN 38016
      View Details
    • $185,000
      0.91 Acres

      Commercial Lot in Cordova Location

      High-visibility commercial lot in a high-traffic Memphis location.
      7999 Club Center Dr, Memphis, TN 38016
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    • Contact for pricing

      Germantown Square Outparcel Opportunity

      Last outparcel available in Germantown Square development.
      1245 N Germantown Pkwy, Cordova, TN 38016
      View Details
    • $4,600,391
      3,605 SF

      Cordova Car Wash For Sale

      Whistle Express car wash on 1.69 acres in Cordova.
      10003 Macon Rd, Cordova, TN 38016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,280 SF

      Retail Space in Cordova Collection

      Retail spaces available in high-traffic Cordova shopping center.
      1770 Dexter Springs Loop, Cordova, TN 38016
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      6,048 SF

      Retail Space on Germantown Parkway

      12,700 SF retail space available on busy Germantown Parkway.
      1890 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
      3,242 SF

      Retail Center Near Wolfchase District

      61,333 SF shopping center near I-40 and Wolfchase.
      2382 N Germantown Pkwy, Cordova, TN 38016
      View Details
    • Contact for pricing
      1,493 SF

      Retail Space in Cordova Collection

      Retail spaces available in high-traffic Cordova shopping center.
      1769 Dexter Springs Loop, Cordova, TN 38016
      View Details
    • Contact for pricing

      Cordova Retail Space For Rent

      Retail space available in Cordova, Tennessee anchored by Ace Hardware.
      1740 N Germantown Pkwy, Cordova, TN 38016
      View Details
    View Listing
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    Cordova, TN 38016
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    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
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