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

    3839 Frst Hl Irene Rd Memphis, TN 38125-9913

    • Office buildings
    • 73,144 SF
    • 9.50 lot acres
    OFF-MARKET
    Last Sale
    Jun 25, 2025
    $4,150,000
    Value Estimations
    $3,635,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1014353
    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

    • Titan Ramps / Manufacturer / Distribution Service
    • Crisp Connections / Bpo Company
    • Pallet forks.com / Store
    • Titan Brands / Corporate Office
    • Diversified Health Systems / Fitness Center

    Property Details for 3839 Frst Hl Irene Rd

    Year built
    1997
    Lot size
    9.50 lot acres
    Property size
    73,144 SF
    Zone code
    CA
    Property type
    Office buildings
    APN
    D02-42 - - -00288
    APU
    D024200288

    Description

    The Campus at Forest Hill, located at 3839 Forest Hill Irene Rd, Memphis, TN 38125, presents a significant opportunity for businesses seeking executive office space. This Class C building, constructed in 1997, offers a total of 73,144 square feet across a single suite, situated on a generous 9.5-acre lot in Shelby County. Currently, a substantial 52,484 square feet is available for lease, providing ample space for expansion or relocation. The property's design allows for flexible divisibility, catering to various business needs and sizes. The turnkey nature of the building ensures a smooth transition for new tenants, minimizing setup time and maximizing operational efficiency. The spacious floor plan offers a comfortable and productive work environment. This executive office building is ideally suited for companies seeking a prominent presence in the Memphis market. The property's substantial size and available space make it an attractive option for businesses requiring significant office area. The location in Shelby County provides easy access to major transportation routes and amenities. This is a rare opportunity to secure a large, well-maintained office building in a desirable Memphis location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,436,000
      Market price range: $1.39M - $5.98M

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.7609
    Latitude
    35.0435
    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
    $66,896
    $832,000
    $1,141,320
    $1,973,320
    -
    $2,080,000
    $2,853,300
    $4,933,300

    Comparable in this City

    • Value Estimation
      $11,100,000
      75,171 SF

      3860 Frst Hl Irene Rd

      OFFICE BUILDING • 75,171 SF
      3860 Frst Hl Irene Rd, Memphis, TN 38125-2586
      View Details
    • Value Estimation
      $4,375,000
      61,418 SF

      8150 Sedgwick Way

      OFFICE BUILDING • 61,418 SF
      8150 Sedgwick Way, Memphis, TN 38125-1058
      View Details
    • Value Estimation
      $1,385,000
      11,988 SF

      3740 Business Dr

      OFFICE BUILDING • 11,988 SF
      3740 Business Dr, Memphis, TN 38125-8516
      View Details
    • Value Estimation
      $810,000
      22,604 SF

      3395 Players Clb Pkwy

      OFFICE BUILDING • 22,604 SF
      3395 Players Clb Pkwy, Memphis, TN 38125-8863
      View Details
    • Value Estimation
      $2,295,000
      17,370 SF

      3195 Players Clb Pkwy

      OFFICE BUILDING • 17,370 SF
      3195 Players Clb Pkwy, Memphis, TN 38125
      View Details
    • Value Estimation
      $850,000
      6,320 SF

      7900 Winchester Rd

      OFFICE BUILDING • 6,320 SF
      7900 Winchester Rd, Memphis, TN 38125-2395
      View Details

    Similar Nearby for Sale

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      Germantown Office Park Land

      Land available in established Germantown Office Park, ready for development.
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    Similar Nearby for Lease

    • $16 SF/Yr
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      Single-story office building in Germantown with ample parking.
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    • $18 SF/Yr
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      Prime Memphis Office Space

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      Office space • 10,018 SF
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    • $21 SF/Yr
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      Office Space in Southwind

      Office space available in a well-established office center.
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      View Details
    • $21 SF/Yr
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      Southwind Office Center Space Available

      Office spaces available in Memphis's Southwind Office Center.
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      View Details
    • Contact for pricing
      10,689 SF

      Champion Hills Office Space for Lease

      Memphis Office Building, 10,689 SF Available
      3725 Champion Hills Dr, Memphis, TN 38125
      View Details
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    Memphis, TN 38125-9913
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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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