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    1541 Cherry Rd Memphis, TN 38117
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    1541 Cherry Rd Memphis, TN 38117

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    • Office buildings
    • 7,528 SF
    • 1.24 lot acres
    For Sale
    $1,170,000
    View Listing →
    Commercial Property on Cherry Road For Sale
    $1,170,000
    13,262 SF

    Commercial Property on Cherry Road

    Commercial property for sale with significant square footage.

    1541 Cherry Rd, Memphis, TN 38117
    View Listing
    Property ID
    US80-0695770
    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

    • Office buildings

    Property Details for 1541 Cherry Rd

    Year built
    1977
    Lot size
    1.24 lot acres
    Property size
    7,528 SF
    Zone code
    CMU-1
    Property type
    Office buildings
    APN
    058-155- - -00141
    APU
    5815500141

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $708,000
      Market price range: $708k - $1.61M
      AI Estimate
      $567,000
      Market price range: $567k - $1.46M

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9174
    Latitude
    35.0895
    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
    $4,047
    $36,760
    $29,680
    $66,440
    -
    $91,900
    $74,200
    $166,100

    Comparable in this City

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      684 Brookhaven Cir

      OFFICE BUILDING • 6,195 SF
      684 Brookhaven Cir, Memphis, TN 38117-4504
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      1,586 SF

      732 Brookhaven Cir

      OFFICE BUILDING • 1,586 SF
      732 Brookhaven Cir, Memphis, TN 38117
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    • Value Estimation by Request
      1,824 SF

      837 Mt Moriah Rd

      OFFICE BUILDING • 1,824 SF
      837 Mt Moriah Rd, Memphis, TN 38117-5704
      View Details
    • Value Estimation
      $1,310,000
      19,716 SF

      4745 Poplar Ave

      OFFICE BUILDING • 19,716 SF
      4745 Poplar Ave, Memphis, TN 38117-4430
      View Details
    • Value Estimation
      $535,000
      8,000 SF

      1724 White Sta Rd

      OFFICE BUILDING • 8,000 SF
      1724 White Sta Rd, Memphis, TN 38117-7224
      View Details

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      5,922 SF

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      Memphis Office Investment Opportunity

      Prime 4,822 SF office building in thriving Memphis location.
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      East Memphis Office and Retail

      Six-story office building in established East Memphis retail center.
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    • $1,750,000
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      East Memphis Freestanding Office Building

      Class A office building in the heart of East Memphis.
      767 E Brookhaven Cir, Memphis, TN 38117
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    • $600,000
      6,284 SF

      East Memphis Office Building

      Office building for sale in the heart of East Memphis.
      710 Oakleaf Office Ln, Memphis, TN 38117
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    • Contact for pricing
      5,922 SF

      Office Buildings Near Poplar Avenue

      Two office buildings totaling 11,844+/- SF near Poplar Avenue.
      641 Oakleaf Office Ln, Memphis, TN 38117
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      122,000 SF

      East Memphis Office Space Available

      Office space in East Memphis, a desirable business location.
      1023 Cherry Rd, Memphis, TN 38117
      View Details
    • $24 SF/Yr
      72,697 SF

      Four-Story Office Building For Rent

      125,239 RSF office building with covered parking available for lease.
      Oak Court Cv, Memphis, TN 38117
      View Details
    • Contact for pricing
      81,190 SF

      Office Space in Audubon Woods

      Office space available for lease in Memphis, Tennessee.
      845 Crossover Ln, Memphis, TN 38117
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    • Contact for pricing
      1,558 SF

      East Memphis Class A Office

      Class A office building in ideal East Memphis location.
      699 Oakleaf Office Ln, Memphis, TN 38117
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    • Contact for pricing
      6,198 SF

      Office Park with Highway Visibility

      155,000 SF office park with convenient highway access.
      1770 Moriah Woods Blvd, Memphis, TN 38117
      View Details
    • Contact for pricing
      1,445 SF

      Prime Location Office Space

      Office space with proximity to restaurants and shopping centers.
      717 S White Station Rd, Memphis, TN 38117
      View Details
    View Listing
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    1541 Cherry Rd
    Memphis, TN 38117
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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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