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

    3175 Lenox Park Blvd Memphis, TN 38115

    • Office buildings
    • 103,023 SF
    • 7.83 lot acres
    For Lease
    View listing
    Last Sale
    Aug 03, 2025
    $1,601,650
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0068496
    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

    • Barfield Valerie L / Nurse Practitioner / Health
    • Dr. Albert Grobmyer / Surgeon
    • Bliss Julie S / Health / Medical Clinic
    • Quality Home Health Services / Home Health Care Service
    • Logan Portable Toilets / Portable Toilet Supplier

    Property Details for 3175 Lenox Park Blvd

    Year built
    1996
    Lot size
    7.83 lot acres
    Property size
    103,023 SF
    Zone code
    CMU-2
    Property type
    Office buildings
    APN
    093-200- - -00408
    APU
    9320000408

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8427
    Latitude
    35.0622
    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
    $65,563
    $487,440
    $588,840
    $1,076,280
    -
    $1,218,600
    $1,472,100
    $2,690,700

    Comparable in this City

    • Value Estimation
      $745,000
      4,284 SF

      6089 Apple Tree Dr

      OFFICE BUILDING • 4,284 SF
      6089 Apple Tree Dr, Memphis, TN 38115-8600
      View Details
    • Value Estimation
      $1,710,000
      14,465 SF

      2926 Ridgeway Rd

      OFFICE BUILDING • 14,465 SF
      2926 Ridgeway Rd, Memphis, TN 38115-2755
      View Details
    • Value Estimation
      $855,000
      6,400 SF

      2934 Ridgeway Rd

      OFFICE BUILDING • 6,400 SF
      2934 Ridgeway Rd, Memphis, TN 38115-2745
      View Details
    • Value Estimation
      $775,000
      6,000 SF

      5978 Knight Arnold Rd Ext

      OFFICE BUILDING • 6,000 SF
      5978 Knight Arnold Rd Ext, Memphis, TN 38115-3200
      View Details
    • Value Estimation
      $945,000
      7,200 SF

      5395 Fox Plz Dr

      OFFICE BUILDING • 7,200 SF
      5395 Fox Plz Dr, Memphis, TN 38115-1516
      View Details
    • Value Estimation
      $2,960,000
      105,240 SF

      6730 Lenox Ctr Ct

      OFFICE BUILDING • 105,240 SF
      6730 Lenox Ctr Ct, Memphis, TN 38115-4288
      View Details

    Similar Nearby for Sale

    • New
      $269,000

      Bank-Owned Commercial Property in Memphis

      Vacant commercial building in Memphis, TN, ready for redevelopment.
      6095 Apple Tree Dr, Memphis, TN 38115
      View Details
    • $250,000

      Modern Memphis Office Space

      Move-in Ready Office with 15 Parking Spaces
      2750 Mount Moriah Pkwy, Memphis, TN 38115
      View Details
    • Contact for pricing
      912 SF

      Memphis Multi-Tenant Office Building

      Six Suites, 100% Occupied, High NOI
      5737 Nanjack Cir, Memphis, TN 38115
      View Details
    • $79,900

      Affordable Memphis Office Space

      Well-located office space with owner financing in Memphis, TN.
      5507 Winchester Ave, Memphis, TN 38115
      View Details
    • $600,000

      Medical Building on Acre Lot

      Medical building with almost 10,000 sqft on over an acre.
      3530 Hickory Hill Rd, Memphis, TN 38115
      View Details
    • $299,000
      2,364 SF

      Former Bank Branch For Sale

      2,364 SF Memphis bank branch ideal for office or retail.
      3580 Ridge Meadow Pkwy, Memphis, TN 38115
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,375 SF

      Class A Office Space Available

      Class A office space for lease in Memphis, TN.
      6625 Lenox Park Blvd, Memphis, TN 38115
      View Details
    • Contact for pricing
      78,744 SF

      Office Building in Lenox Park

      Office building featuring a marble lobby, training facilities, and generator.
      6730 Lenox Center Ct, Memphis, TN 38115
      View Details
    • $19 SF/Yr
      25,245 SF

      Class A Office Space Available

      Award-winning office campus with modern amenities and convenient location.
      6775 Lenox Center Ct, Memphis, TN 38115
      View Details
    • $13 SF/Yr
      27,521 SF

      Multi-Tenant Office Building For Rent

      Multi-tenant office building with excellent highway access on Mt. Moriah.
      5830 Mount Moriah Rd, Memphis, TN 38115
      View Details
    • Contact for pricing
      96,844 SF

      Lenox Park Executive Suites

      Memphis Office Space: Premium Class A Offices
      6625 Lenox Park Dr, Memphis, TN 38115
      View Details
    • $4 SF/Yr
      243,588 SF

      6616 Winchester Rd

      Theaters & concert halls • 243,588 SF
      6616 Winchester Rd, Memphis, TN 38115
      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.
    3175 Lenox Park Blvd
    Memphis, TN 38115
    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.