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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1253 Houston Levee Rd Cordova, TN 38018-7154

    • Grocery and convenience stores
    • 6,300 SF
    • 1.56 lot acres
    OFF-MARKET
    Last Sale
    Jul 10, 2023
    Value Estimations
    $1,225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0410632
    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

    • Afzal Hookah Lounge / Hookah Store / Internet Cafe
    • bp / Car Wash / Gas Station
    • Dunkin' / Coffee Shop
    • LibertyX Bitcoin ATM / Atm

    Property Details for 1253 Houston Levee Rd

    Year built
    2022
    Lot size
    1.56 lot acres
    Property size
    6,300 SF
    Zone code
    CMU-2
    Property type
    Grocery and convenience stores
    APN
    D02-15 - - -00847
    APU
    D021500847

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,235,000
      6.5%
      $1,140,000
      7%
      $1,060,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,107,000
      Market price range: $484k - $1.11M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,025,000
      Current use
      RESTAURANT
      $1,990,000
      Change: +94% Conversion: Difficult
      MEDICAL BUILDING
      $930,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cordova
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.7282
    Latitude
    35.1597
    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
    $23,091
    $341,720
    $339,440
    $681,160
    -
    $854,300
    $848,600
    $1,702,900

    Comparable in this City

    • Value Estimation by Request
      2,873 SF

      610 Germantown Pkwy

      CONVENIENCE STORE • 2,873 SF
      610 Germantown Pkwy, Cordova, TN 38018-6248
      View Details
    • Value Estimation
      $3,445,000
      6,641 SF

      141 Houston Levee Rd

      CONVENIENCE STORE • 6,641 SF
      141 Houston Levee Rd, Cordova, TN 38018-7161
      View Details
    • Value Estimation
      $4,150,000
      56,950 SF

      1230 Houston Levee Rd

      GROCERY, SUPERMARKET • 56,950 SF
      1230 Houston Levee Rd, Cordova, TN 38018-6653
      View Details
    • Value Estimation
      $575,000
      3,876 SF

      360 Germantown Pkwy

      CONVENIENCE STORE • 3,876 SF
      360 Germantown Pkwy, Cordova, TN 38018-4204
      View Details
    • Value Estimation
      $1,815,000
      5,100 SF

      9770 Walnut Grv Rd

      CONVENIENCE STORE • 5,100 SF
      9770 Walnut Grv Rd, Cordova, TN 38018-7727
      View Details
    • Value Estimation by Request
      345,767 SF

      590 Germantown Pkwy

      Individual retail properties • 345,767 SF
      590 Germantown Pkwy, Memphis, TN 38018
      View Details

    Similar Nearby for Sale

    • $700,000
      868 SF

      Retail Property Near Germantown Parkway

      Retail space for sale in prime location near Kroger.
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      Cordova Retail Property For Sale

      Retail property available for purchase in Cordova, Tennessee.
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      Esplanade Event Center: Memphis, TN

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      Cordova Development Opportunity For Sale

      New development with retail and residential opportunities in Cordova, Tennessee.
      Swc Walnut Grv Rd & Houston Levee Rd, Cordova, TN 38018
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      28,130 SF

      Memphis Retail & Office Space

      Prime Cordova location, two suites available
      8130 Macon Sta At Cordova Sta, Memphis, TN 38018
      View Details
    • Contact for pricing
      1,463 SF

      Retail Space in Cordova, TN

      Retail space available for lease in Cordova, Tennessee.
      750 N Germantown Pkwy, Cordova, TN 38018
      View Details
    • Contact for pricing
      3,636 SF

      Retail Space in Cordova

      Retail space available for rent in Cordova, Tennessee.
      8100 Macon Station Dr, Cordova, TN 38018
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space on Germantown Parkway

      Retail space available at N Germantown Parkway and Macon Rd.
      1010-1034 N Germantown Pkwy, Cordova, TN 38018
      View Details
    • $28 SF/Yr
      20,427 SF

      Restaurant Space For Lease

      2,996 SF restaurant space available on Germantown Parkway.
      420 S Germantown Rd, Cordova, TN 38018
      View Details
    • Contact for pricing
      868 SF

      Memphis Fast Food Retail Space

      Prime 868 SF Fast Food Location
      8079 Trinity Rd, Memphis, TN 38018
      View Details
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    Cordova, TN 38018-7154
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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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