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    3665 S Perkins Rd Memphis, TN 38118
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    3665 S Perkins Rd Memphis, TN 38118

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    • Industrial properties
    • 22,736 SF
    • 1.99 lot acres
    For Lease
    $700,000
    View Listing →
    Memphis Office Leasing Opportunity For Lease
    $700,000
    22,892 SF

    Memphis Office Leasing Opportunity

    Premier office space for rent in Memphis, Tennessee.

    3665 S Perkins Rd, Memphis, TN 38118
    View Listing
    Property ID
    US80-3344378
    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
    $700,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Amateur Athletic Union / Association Or Organization
    • RCI RapidRoof: Memphis Roofing Contractors / Roofing Company / General Contractor
    • HillCo Construction and Interior Transformations / Construction Company / General Contractor
    • Lifestyle Kitchen & Bath / Hardware & Home Improvement / Kitchen & Bath Showroom
    • Venice Tile & Marble / Carpet & Flooring Store / Hardware & Home Improvement

    Property Details for 3665 S Perkins Rd

    Year built
    1985
    Lot size
    1.99 lot acres
    Property size
    22,736 SF
    Zone code
    EMP
    Property type
    Industrial properties
    Property subtype
    Loft space
    APN
    073-040- - -00050
    APU
    7304000050

    Description

    This exceptional multi-tenant flex industrial property, located at 3665 S Perkins Rd in Memphis, Tennessee, offers 11,483 square feet of immediately available space. Situated in Shelby County, this prime location provides easy access to major transportation routes. The building boasts a total of 22,786 square feet, divided into two suites. Flexible space options are available, ranging from a minimum of 2,775 square feet to a maximum contiguous space of 8,708 square feet, catering to a variety of business needs. The property features a desirable 12-foot ceiling height, providing ample vertical space for storage or operations. One dock-high door ensures efficient loading and unloading of goods. The available space is fully conditioned, offering a comfortable and productive work environment. This is an excellent opportunity for businesses seeking modern, functional industrial space in a convenient Memphis location. The property's multi-tenant nature provides a vibrant and collaborative atmosphere. Don't miss this chance to secure your ideal workspace in this thriving area. Contact us today to schedule a viewing and explore the possibilities. Zip code: 38118.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $480,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $956,000
      Market price range: $491k - $1.10M
      AI Estimate
      $664,000
      Market price range: $285k - $812k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $695,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9085
    Latitude
    35.0487
    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
    $20,777
    $45,600
    $295,480
    $341,080
    -
    $114,000
    $738,700
    $852,700

    Comparable in this City

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    • Value Estimation by Request
      21,788 SF

      3726 Burdan Cv

      INDUSTRIAL LOFT BUILDING • 21,788 SF
      3726 Burdan Cv, Memphis, TN 38118-5945
      View Details
    • Value Estimation
      $1,635,000
      128,592 SF

      3645 Lamar Ave

      INDUSTRIAL LOFT BUILDING • 128,592 SF
      3645 Lamar Ave, Memphis, TN 38118-2842
      View Details
    • Value Estimation
      $860,000
      24,720 SF

      3639 New Getwell Rd

      INDUSTRIAL LOFT BUILDING • 24,720 SF
      3639 New Getwell Rd, Memphis, TN 38118-6047
      View Details
    • Value Estimation
      $945,000
      36,510 SF

      2950 Tchulahoma Rd

      INDUSTRIAL LOFT BUILDING • 36,510 SF
      2950 Tchulahoma Rd, Memphis, TN 38118-2715
      View Details
    • Value Estimation by Request
      9,904 SF

      3623 Goodlett St

      INDUSTRIAL LOFT BUILDING • 9,904 SF
      3623 Goodlett St, Memphis, TN 38118-6271
      View Details

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      Land Available For Lease/Sale

      4.86 +/- acre land for lease or sale.
      Claudette Rd, Memphis, TN 38118
      View Details

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      63,840 SF

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      Memphis Industrial Property for Lease

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      Industrial Space in Distriplex Farms

      Industrial property in Distriplex Farms, near Memphis International Airport.
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    View Listing
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    Memphis, TN 38118
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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.

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