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

    3704 Summer Ave Memphis, TN 38122-3743

    • Medical offices
    • 1,154 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $245,000
    Show details
    Cap Rate Potential
    7.1%
    Medical offices
    Location Intelligence
    Property ID
    US80-3470521
    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

    • Dental Expression, PLLC / Dentist / Dental Clinic
    • Dr. Cory L. Newsom-Broughton, DDS / Dentist
    • Cory Lynn Newsome-Broughton / Dentist

    Property Details for 3704 Summer Ave

    Year built
    1945
    Lot size
    0.24 lot acres
    Property size
    1,154 SF
    Zone code
    CMU-3
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    038-079- - -00038
    APU
    3807900038

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $280,000
      6.5%
      $255,000
      7%
      $240,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9375
    Latitude
    35.1497
    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
    $2,724
    $17,440
    $27,280
    $44,720
    -
    $43,600
    $68,200
    $111,800

    Comparable in this City

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      $215,000
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      658 Perkins Rd

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    • Value Estimation by Request
      10,250 SF

      835 Virginia Run Cv

      MEDICAL BUILDING • 10,250 SF
      835 Virginia Run Cv, Memphis, TN 38122-4419
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    • Value Estimation
      $460,000
      11,517 SF

      4066 Summer Ave

      MEDICAL BUILDING • 11,517 SF
      4066 Summer Ave, Memphis, TN 38122-5225
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    • Value Estimation by Request
      1,096 SF

      1055 Stratford Rd

      MEDICAL BUILDING • 1,096 SF
      1055 Stratford Rd, Memphis, TN 38122-2920
      View Details
    • Value Estimation
      $1,285,000
      19,585 SF

      4321 Summer Ave

      MEDICAL BUILDING • 19,585 SF
      4321 Summer Ave, Memphis, TN 38122-4048
      View Details
    • Value Estimation
      $165,000
      3,030 SF

      3787 Summer Ave

      MEDICAL BUILDING • 3,030 SF
      3787 Summer Ave, Memphis, TN 38122-3746
      View Details

    Similar Nearby for Sale

    • $1,900,000
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      Memphis Medical Office Investment Opportunity

      Stand-alone medical building in East Memphis with long-term tenant.
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      4,953 SF

      Office and Warehouse Space Available

      Modern office building with warehouse space on Summer Avenue.
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    • $300,000
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      Memphis Office Space For Sale

      Office space available for purchase in Memphis, Tennessee.
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    • $350,000
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      Summer Ave Storefront Opportunity

      Prime Memphis retail space, vacant, 1181 sq ft.
      4029 Summer Ave, Memphis, TN 38122
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    • $1,990,000
      14,392 SF

      Former Walgreens Retail Space

      Memphis, TN: 14,392 SF, $1.99M
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      Restaurant and Retail Space Available

      Restaurant and retail property with existing infrastructure ready for business.
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    Similar Nearby for Lease

    • Contact for pricing
      4,183 SF

      Summer Ave Commercial Property

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    • $12 SF/Yr
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      Memphis Office Space for Lease

      Prime Summer Corridor Office - 1,337-3,800 SF
      620 Sevier St, Memphis, TN 38122
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    • $9 SF/Yr
      31,173 SF

      Office Space on Summer Avenue

      Office space available for rent on Summer Avenue.
      4981 Summer Ave, Memphis, TN 38122
      View Details
    • Contact for pricing
      7,500 SF

      Summer Ave Retail Space Available

      Memphis retail space, move-in ready.
      4899 Summer Ave, Memphis, TN 38122
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    • Contact for pricing
      3,123 SF

      East Memphis Commercial Space Available

      Move-in ready commercial space in the heart of East Memphis.
      650 S Perkins Rd, Memphis, TN 38122
      View Details
    • $20 SF/Yr
      900 SF

      Office Space on Summer Avenue

      Office space available for lease on Summer Avenue.
      3814 Summer Ave, Memphis, TN 38122
      View Details
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    3704 Summer Ave
    Memphis, TN 38122-3743
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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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