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

    1605 Getwell Rd Memphis, TN 38111-7119

    • Strip malls
    • 7,120 SF
    • 0.70 lot acres
    OFF-MARKET
    Last Sale
    Feb 06, 2025
    $730,000
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0073695
    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

    • Cash Now / Loan Agency

    Property Details for 1605 Getwell Rd

    Year built
    1947
    Lot size
    0.70 lot acres
    Property size
    7,120 SF
    Zone code
    CMU-1
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    058-082- - -00006-C
    APU
    05808200006C

    Description

    This exceptional investment opportunity presents a 7,120-square-foot shopping center located at 1605-1609 Getwell Rd, Memphis, TN 38111. The property boasts 100% occupancy with a stable, long-term tenant, generating a strong net operating income (NOI) of $57,811 and a compelling 9.25% capitalization rate. Built in 1947, this single-story, 7,120 square-foot building sits on a 0.702-acre lot and is zoned for commercial use. The asking price is $625,000, translating to a price per square foot of $87.78. This stabilized investment offers a secure and profitable return for discerning investors seeking a well-performing retail asset in a desirable Memphis location. The property's strong performance and consistent cash flow make it an attractive addition to any portfolio. The single-tenant occupancy simplifies management and minimizes vacancy risk. This is a rare opportunity to acquire a fully leased, high-performing retail property in a prime Memphis location. The property's solid financials and stable tenant base make it an ideal investment for those seeking long-term growth and passive income. The 0.702-acre lot provides ample space for potential future expansion or redevelopment. This is a turnkey investment ready to generate immediate returns.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $575,000
      ML approach
      $535,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $525,000
      Current use
      OFFICE BUILDING
      $850,000
      Change: +62% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $690,000
      Change: +32% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $655,000
      Change: +25% Conversion: Difficult
      RETAIL STORES
      $625,000
      Change: +20% Conversion: Easy
      COMMERCIAL (GENERAL)
      $430,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9316
    Latitude
    35.0879
    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
    $4,727
    $35,480
    $42,120
    $77,600
    -
    $88,700
    $105,300
    $194,000

    Comparable in this City

    • Value Estimation
      $600,000
      65,934 SF

      3486 Poplar Ave

      SHOPPING CENTER, STRIP CENTER • 65,934 SF
      3486 Poplar Ave, Memphis, TN 38111-4693
      View Details
    • Value Estimation
      $315,000
      12,035 SF

      1287 Getwell Rd

      SHOPPING CENTER, STRIP CENTER • 12,035 SF
      1287 Getwell Rd, Memphis, TN 38111-7221
      View Details
    • Value Estimation
      $545,000
      12,800 SF

      644 Highland St

      SHOPPING CENTER, STRIP CENTER • 12,800 SF
      644 Highland St, Memphis, TN 38111-4356
      View Details
    • Value Estimation
      $580,000
      67,860 SF

      3445 Poplar Ave

      SHOPPING CENTER, STRIP CENTER • 67,860 SF
      3445 Poplar Ave, Memphis, TN 38111-4667
      View Details
    • Value Estimation
      $225,000
      2,279 SF

      3045 Southern Ave

      SHOPPING CENTER, STRIP CENTER • 2,279 SF
      3045 Southern Ave, Memphis, TN 38111-3220
      View Details
    • Value Estimation
      $85,000
      3,468 SF

      3167 Barron Ave

      SHOPPING CENTER, STRIP CENTER • 3,468 SF
      3167 Barron Ave, Memphis, TN 38111-3931
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
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      Retail Spaces in High-Traffic Area

      Retail spaces available in high-traffic Memphis location.
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      Retail Space in High-Traffic Area

      Retail spaces available in a high-traffic Memphis location.
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      Retail Space in High-Traffic Area

      Retail spaces available in high-traffic Memphis location.
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      Retail Space in High-Traffic Area

      Retail vacancies in high-traffic Memphis location, 1,266 to 8,866 SF.
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      Retail Spaces in High-Traffic Area

      Retail vacancies available in a high-traffic Memphis location.
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      17,940 SF

      Highland Row Retail Space Available

      Memphis Retail Space, High Traffic Area
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    1605 Getwell Rd
    Memphis, TN 38111-7119
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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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