Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1824 Castalia St Memphis, TN 38114-4607

    Property Lookup

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

    1824 Castalia St Memphis, TN 38114-4607

    View on Map
    • Warehouses
    • 242,568 SF
    • 8.57 lot acres
    Off-Market
    Last Sale Jul 20, 2025
    $2,330,000
    Property ID
    US80-0991440
    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
    $2,480,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1824 Castalia St

    Year built
    1941
    Lot size
    8.57 lot acres
    Property size
    242,568 SF
    Zone code
    EMP
    Property type
    Warehouses
    APN
    060-108- - -00011
    APU
    6010800011

    Description

    This expansive Memphis industrial property at 1824 Castalia St, zip code 38114, offers a total of 242,568 square feet of space, currently entirely vacant and ready for immediate occupancy. The building, constructed in 1941, is situated in Shelby County, Tennessee, and benefits from its location amongst significant industrial and commercial businesses. The property is divisible into three separate suites, with a minimum divisible space of 74,000 square feet and a maximum contiguous space of 84,568 square feet. This flexibility allows for a variety of tenant configurations, catering to businesses of varying sizes and needs. Ceiling heights range from 16 to 24 feet, providing ample vertical space for storage, manufacturing processes, or high-bay racking systems. The property's classification as Manufacturing, Warehouse, and Distribution makes it suitable for a wide range of industrial uses. This prime location presents a unique opportunity for businesses seeking significant warehouse, manufacturing, or distribution space in a well-established industrial area of Memphis. The property's size and layout offer substantial potential for a single large tenant or multiple smaller tenants. Inquire today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9944
    Latitude
    35.0951
    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
    $23,234
    $98,720
    $282,680
    $381,400
    -
    $246,800
    $706,700
    $953,500

    Comparable in this City

    • Value Estimation by Request
      1,728 SF

      2200 Dunn Ave

      MINI-WAREHOUSE, STORAGE • 1,728 SF
      2200 Dunn Ave, Memphis, TN 38114-4724
      View Details
    • Value Estimation by Request
      0.23 Acres

      Wabash

      MINI-WAREHOUSE, STORAGE • 0.23 Acres
      Wabash, Memphis, TN 38114
      View Details
    • Value Estimation by Request
      35,520 SF

      2345 Frisco Ave

      MINI-WAREHOUSE, STORAGE • 35,520 SF
      2345 Frisco Ave, Memphis, TN 38114-4813
      View Details
    • Value Estimation by Request
      1,067 SF

      2214 Freemont Ave

      MINI-WAREHOUSE, STORAGE • 1,067 SF
      2214 Freemont Ave, Memphis, TN 38114-4730
      View Details
    • Value Estimation by Request
      30,407 SF

      1775 Airways Blvd

      MINI-WAREHOUSE, STORAGE • 30,407 SF
      1775 Airways Blvd, Memphis, TN 38114-4718
      View Details
    • Value Estimation
      $2,030,000
      28,494 SF

      1851 John Paul St

      MINI-WAREHOUSE, STORAGE • 28,494 SF
      1851 John Paul St, Memphis, TN 38114-6411
      View Details

    Similar Nearby for Sale

    • $200,000

      Flex Warehouse Office Property

      Flex/warehouse office property near Memphis International Airport.
      1790 Lapaloma St, Memphis, TN 38114
      View Details
    • Contact for pricing

      Memphis Warehouse Space Available

      Warehouse space available in Memphis, Tennessee for $5/sqft/year.
      2383 Lamar Ave, Memphis, TN 38114
      View Details
    • $750,000
      16,706 SF

      Former Grocery Store on Lamar

      16,706+/- SF former grocery store on 2.5+/- acres.
      2877 Lamar Ave, Memphis, TN 38114
      View Details
    • $40,000

      Subdividable Lot in Prime Location

      Large lot suitable for subdivision in a fantastic location.
      1059 S Willett St, Memphis, TN 38114
      View Details
    • Contact for pricing

      Retail Property on Park Avenue

      Retail property for sale in Memphis, Tennessee.
      2771 Park Ave, Memphis, TN 38114
      View Details
    • $699,000
      7,868 SF

      Memphis Commercial Space on Lamar

      High-traffic commercial space suitable for restaurant, retail, or entertainment.
      2802 Lamar Ave, Memphis, TN 38114
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,837 SF

      Memphis Warehouse Space Available

      14,837 SF warehouse space with secure access in Memphis.
      2129 Troyer Ave, Memphis, TN 38114
      View Details
    • Contact for pricing

      Industrial Sublease Available

      30,742 SF industrial sublease available.
      1300 Lincoln St, Memphis, TN 38114
      View Details
    • $4 SF/Yr
      30,742 SF

      Industrial Facility with Extensive Access

      Two-building industrial facility with 15 drive-in doors and office space.
      1300 Lincoln St, Memphis, TN 38114
      View Details
    • Contact for pricing

      Lamar Avenue Retail Spaces Available

      Retail spaces available for lease on Lamar Avenue.
      2983-2995 Lamar Ave, Memphis, TN 38114
      View Details
    • Contact for pricing

      Commercial Space For Lease

      Commercial space available for lease in Memphis, Tennessee.
      2383-2391 Lamar Ave, Memphis, TN 38114
      View Details
    • Contact for pricing

      Retail Space on Corner Lot

      2,400 SF retail space at a signalized intersection.
      2320 Lamar Ave, Memphis, TN 38114
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1824 Castalia St
    Memphis, TN 38114-4607
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    1824 Castalia St, Memphis, TN, 38114

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!