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    Property profile & analytics

    1620 Madison Ave Memphis, TN 38104-2568

    • Grocery and convenience stores
    • 69,017 SF
    • 5.37 lot acres
    OFF-MARKET
    Value Estimations
    $8,640,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1404582
    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

    • Memphis Beer Shop / (Bike/Boat/Book/etc) Store / Bar & Pub
    • Cash Fast / Check Cashing
    • Western Union / Bank / Credit Union
    • Quik Lend Payday Loans, Title Loans, Check Advances, and Cash Advances / Loan Service
    • ATM - Madison Avalon Drive-Up / Atm

    Property Details for 1620 Madison Ave

    Year built
    1962
    Lot size
    5.37 lot acres
    Property size
    69,017 SF
    Zone code
    CMU-3
    Property type
    Grocery and convenience stores
    APN
    017-037- - -00004
    APU
    1703700004

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,475,000
      6.5%
      $10,590,000
      7%
      $9,835,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,711,000
      Market price range: $3.96M - $12.3M
      AI Estimate
      $6,624,000
      Market price range: $2.77M - $9.51M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $8,310,000
      Current use
      RESTAURANT
      $11,080,000
      Change: +33% Conversion: Easy
      MEDICAL BUILDING
      $9,870,000
      Change: +19% Conversion: Difficult
      OFFICE BUILDING
      $7,810,000
      Change: -6% Conversion: Easy
      AUTO REPAIR, GARAGE
      $6,690,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.007
    Latitude
    35.1389
    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
    $112,954
    $1,311,840
    $542,400
    $1,854,240
    -
    $3,279,600
    $1,356,000
    $4,635,600

    Comparable in this City

    • Value Estimation
      $2,335,000
      2,460 SF

      2142 Central Ave

      CONVENIENCE STORE • 2,460 SF
      2142 Central Ave, Memphis, TN 38104-5501
      View Details
    • Value Estimation by Request
      2,244 SF

      1336 Poplar Ave

      CONVENIENCE STORE • 2,244 SF
      1336 Poplar Ave, Memphis, TN 38104-2005
      View Details
    • Value Estimation by Request
      3,000 SF

      1351 Madison Ave

      CONVENIENCE STORE • 3,000 SF
      1351 Madison Ave, Memphis, TN 38104-2326
      View Details
    • Value Estimation by Request
      1,943 SF

      943 Pkwy S Pkwy

      CONVENIENCE STORE • 1,943 SF
      943 Pkwy S Pkwy, Memphis, TN 38104-5718
      View Details
    • Value Estimation
      $3,995,000
      26,598 SF

      1460 Un Ave

      GROCERY, SUPERMARKET • 26,598 SF
      1460 Un Ave, Memphis, TN 38104-6729
      View Details
    • Value Estimation
      $1,765,000
      15,000 SF

      32 Cleveland St

      GROCERY, SUPERMARKET • 15,000 SF
      32 Cleveland St, Memphis, TN 38104-2302
      View Details

    Similar Nearby for Sale

    • $695,000
      4,840 SF

      Poplar & Cleveland Retail Opportunity

      Midtown Memphis retail building, vacant, high visibility.
      247 Cleveland St, Memphis, TN 38104
      View Details
    • New
      $305,000

      Mixed-Use Property in Memphis, TN

      Mixed-use property near Tiger Lane and Cooper Young.
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    • $1,385,000
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      Memphis Dollar Tree Investment

      High-yield retail investment, strong tenant.
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    • $275,000

      Midtown Memphis Redevelopment Opportunity

      Versatile building in prime Midtown location with redevelopment potential.
      1400 Madison Ave, Memphis, TN 38104
      View Details
    • $1,750,000

      Prime Commercial Building in Memphis

      Building in the heart of Cooper/Young with additional land.
      871 S Cooper St, Memphis, TN 38104
      View Details
    • $1,850,000
      19,300 SF

      Cooper Young Flex Space Investment

      Memphis Industrial Property - High Visibility
      871 Cooper St, Memphis, TN 38104
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,809 SF

      Retail Space on Madison Avenue

      Retail space with street visibility and surface parking.
      1553-1559 Madison Ave, Memphis, TN 38104
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space on E Eh Crump

      Retail space available with high traffic count and ample parking.
      938-944 E Eh Crump Blvd, Memphis, TN 38104
      View Details
    • $15 SF/Yr

      Retail Space Available For Lease

      1,000 SF retail space available for lease.
      294 N Cleveland St, Memphis, TN 38104
      View Details
    • Contact for pricing

      Midtown Retail Space Available

      Retail spaces available in Midtown Memphis with high traffic.
      1519 Union Ave, Memphis, TN 38104
      View Details
    • Contact for pricing
      2,700 SF

      Crosstown Retail Opportunity

      Retail space with 15’ ceilings available for lease.
      408-430 N Cleveland St, Memphis, TN 38104
      View Details
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    1620 Madison Ave
    Memphis, TN 38104-2568
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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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