Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2909 Airways Blvd Memphis, TN 38132-1106

    • Auto shops
    • 779 SF
    • 1.18 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0875652
    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

    • E Z Car Rentals / Car Rental Agency

    Property Details for 2909 Airways Blvd

    Year built
    2002
    Lot size
    1.18 lot acres
    Property size
    779 SF
    Zone code
    EMP
    Property type
    Auto shops
    APN
    060-222- - -00034
    APU
    6022200034

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9898
    Latitude
    35.0661
    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
    $4,873
    $72,360
    $7,640
    $80,000
    -
    $180,900
    $19,100
    $200,000

    Comparable in this City

    • Value Estimation
      $3,215,000
      5,884 SF

      2303 Democrat Rd

      AUTO REPAIR, GARAGE • 5,884 SF
      2303 Democrat Rd, Memphis, TN 38132-2301
      View Details
    • Value Estimation
      $870,000
      21,532 SF

      1459 Corporate Ave

      AUTO REPAIR, GARAGE • 21,532 SF
      1459 Corporate Ave, Memphis, TN 38132-1723
      View Details
    • Value Estimation
      $2,440,000
      240 SF

      2731 Airways Blvd

      AUTO REPAIR, GARAGE • 240 SF
      2731 Airways Blvd, Memphis, TN 38132-1102
      View Details
    • Value Estimation
      $250,000
      3,174 SF

      2780 Airways Blvd

      AUTO REPAIR, GARAGE • 3,174 SF
      2780 Airways Blvd, Memphis, TN 38132-1103
      View Details
    • Value Estimation
      $615,000
      27,130 SF

      1505 Corporate Ave

      AUTO REPAIR, GARAGE • 27,130 SF
      1505 Corporate Ave, Memphis, TN 38132-1723
      View Details
    • Value Estimation
      $920,000
      252,960 SF

      1870 Pyramid Pl

      PARKING GARAGE, PARKING STRUCTURE • 252,960 SF
      1870 Pyramid Pl, Memphis, TN 38132
      View Details

    Similar Nearby for Sale

    • $5,500,000
      241,225 SF

      Memphis Office Portfolio: Value-Add Opportunity

      Two Class A office buildings, 241,225 SF
      1810 Pyramid Pl, Memphis, TN 38132
      View Details
    • Contact for pricing
      241,225 SF

      Class A Office Portfolio

      Two-building office portfolio in Memphis' Nonconnah Business Park.
      1810-1840 Pyramid Pl, Memphis, TN 38132
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      860 SF

      Office Space in Corporate Center

      Office space available in Nonconnah Corporate Center.
      2598 Corporate Ave E, Memphis, TN 38132
      View Details
    • Contact for pricing
      33,835 SF

      Warehouse Space in Corporate Center

      33,835 SF flex space with easy highway access.
      2655 Dividend Dr, Memphis, TN 38132
      View Details
    • Contact for pricing
      21,150 SF

      Memphis Warehouse Space Available

      Industrial warehouse space available for lease in Memphis, Tennessee.
      2761-2831 Barris Dr, Memphis, TN 38132
      View Details
    • $16 SF/Yr
      110,826 SF

      Memphis Executive Office Space

      Class A Office, Multiple Suites Available
      1810 Pyramid Pl, Memphis, TN 38132
      View Details
    • Contact for pricing
      7,240 SF

      Industrial Space in Corporate Center

      Multi-tenant industrial space with 24/7 security and dock doors.
      2689-2729 Longate Dr, Memphis, TN 38132
      View Details
    • Contact for pricing
      19,488 SF

      Industrial Space with Ample Parking

      Air-conditioned industrial space available for rent with back-up generator.
      1769 Paragon Pl, Memphis, TN 38132
      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.
    2909 Airways Blvd
    Memphis, TN 38132-1106
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.