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    Property profile & analytics

    3901 Thomas St Memphis, TN 38127-3731

    • Manufacturing properties
    • 15,000 SF
    • 3.27 lot acres
    OFF-MARKET
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0591682
    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

    • Diesel Care & Performance / Diesel Engine Dealer / Diesel Engine Repair Service

    Property Details for 3901 Thomas St

    Year built
    1978
    Lot size
    3.27 lot acres
    Property size
    15,000 SF
    Zone code
    CMU-3
    Property type
    Manufacturing properties
    APN
    D01-45 - - -00065
    APU
    D014500065

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $423,000
      Market price range: $169k - $661k

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0188
    Latitude
    35.2327
    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
    $7,836
    $51,200
    $179,960
    $231,160
    -
    $128,000
    $449,900
    $577,900

    Comparable in this City

    • Value Estimation
      $320,000
      193,860 SF

      382 Klinke Ave

      MILL (FEED, GRAIN, LUMBER, TEXTILE) • 193,860 SF
      382 Klinke Ave, Memphis, TN 38127-1420
      View Details
    • Value Estimation
      $110,000
      15,488 SF

      382 Klinke Ave

      MILL (FEED, GRAIN, LUMBER, TEXTILE) • 15,488 SF
      382 Klinke Ave, Memphis, TN 38127-1420
      View Details
    • Value Estimation
      $205,000
      6,150 SF

      2660 Fite Rd

      MILL (FEED, GRAIN, LUMBER, TEXTILE) • 6,150 SF
      2660 Fite Rd, Memphis, TN 38127-1938
      View Details
    • Value Estimation
      $140,000
      720 SF

      2940 Frayser Blvd

      MILL (FEED, GRAIN, LUMBER, TEXTILE) • 720 SF
      2940 Frayser Blvd, Memphis, TN 38127-4965
      View Details
    • Value Estimation
      $290,000
      5,000 SF

      2571 Fite Rd

      FACTORY (MANUFACTURING) • 5,000 SF
      2571 Fite Rd, Memphis, TN 38127-1940
      View Details
    • Value Estimation
      $635,000
      77,198 SF

      251 Stiles Dr

      MILL (FEED, GRAIN, LUMBER, TEXTILE) • 77,198 SF
      251 Stiles Dr, Memphis, TN 38127-3500
      View Details

    Similar Nearby for Sale

    • $225,000

      Memphis Industrial Shop & Office Space

      Prime Location, Updated Amenities, Ready to Lease
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    • $120,000

      Prime Memphis Commercial Land

      Excellent location, near Nike & Amazon.
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    • $450,000

      Frayser Blvd Land For Sale

      1.6 acres of land available on Frayser Blvd.
      2550 Frayser Blvd, Memphis, TN 38127
      View Details
    • Contact for pricing
      0.40 Acres

      Land Package in Memphis, TN

      Three parcels of land for sale as a package.
      2955 Northgate St, Memphis, TN 38127
      View Details
    • $173,700
      29.60 Acres

      Large Land Parcel in Memphis

      Over 29 acres near Amazon and Nike facilities in Memphis.
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    • $229,900
      1.00 Acre

      Operating Auto Shop For Sale

      Operating auto shop with equipment, tools, and office space.
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    Similar Nearby for Lease

    • Contact for pricing
      60,000 SF

      Industrial Warehouse Space Available

      60,000 SF industrial space for lease in Memphis.
      1332 Dellwood Ave, Memphis, TN 38127
      View Details
    • Contact for pricing
      69,696 SF

      North Memphis Commercial Land - 1.6 Acres

      Highway 51 Corner Lot, Ground Lease Available
      4085 Thomas St, Memphis, TN 38127
      View Details
    • Contact for pricing

      Frayser Boulevard Retail Space Available

      Retail space for lease in Memphis neighborhood center.
      2200 Frayser Blvd, Memphis, TN 38127
      View Details
    • Contact for pricing
      2,913 SF

      Frayser Blvd Office Space Available

      Office space for rent at Frayser Blvd and Overton.
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    • Contact for pricing
      800 SF

      Retail Spaces on Watkins Street

      Retail spaces available, excellent visibility, minutes from I-40/I-69.
      3257-3263 N Watkins St, Memphis, TN 38127
      View Details
    • Contact for pricing
      7,456 SF

      Retail Spaces in High-Traffic Area

      Retail spaces available near Nike and Amazon distribution centers.
      2570-2590 Frayser Blvd, Memphis, TN 38127
      View Details
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    3901 Thomas St
    Memphis, TN 38127-3731
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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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