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

    4029 Summer Ave Memphis, TN 38122

    • Day care centers
    • 1,181 SF
    • 0.29 lot acres
    For Sale
    View listing
    $350,000
    Last Sale
    Jun 22, 2020
    $130,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-3529887
    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

    • Moreno's Painters / Painting / Concrete Contractor

    Property Details for 4029 Summer Ave

    Year built
    1940
    Construction
    FRAME
    Lot size
    0.29 lot acres
    Property size
    1,181 SF
    Zone code
    RU-3
    Property type
    Day care centers
    APN
    055-001- - -00004
    APU
    5500100004

    Description

    This 1,181 square foot storefront, located at 4029 Summer Avenue in Memphis, Tennessee, presents a unique owner-user investment opportunity. The property, built in 1940, sits on a 0.15-acre lot and is zoned RMM. Currently vacant, this Class C building offers high visibility in a high-traffic area of Summer Avenue, surrounded by a mix of commercial retail, service businesses, and restaurants. The asking price is $350,000, translating to $296.36 per square foot. The single-story building offers 1,181 square feet of net rentable space. This property is being sold "as is" and represents a rare opportunity to acquire a well-located commercial space on a busy Memphis thoroughfare. The previous tenant was a chiropractor's office. The property's location within a thriving commercial corridor makes it ideal for a variety of retail uses. Serious inquiries are encouraged to explore the potential of this unique investment. The property is located in Shelby County, Tennessee, zip code 38122.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $110,000
      ML approach
      $105,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $100,000
      Market price range: $52.0k - $135k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $170,000
      AUTO REPAIR, GARAGE
      $115,000
      OFFICE BUILDING
      $105,000
      RETAIL STORES
      $90,000
      NEIGHBORHOOD: SHOPPING CENTER
      $85,000
      COMMERCIAL (GENERAL)
      $70,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9264
    Latitude
    35.1487
    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
    $1,489
    $16,640
    $7,800
    $24,440
    -
    $41,600
    $19,500
    $61,100

    Comparable in this City

    • Value Estimation
      $220,000
      2,786 SF

      1019 Berclair Rd

      DAY CARE, PRE-SCHOOL • 2,786 SF
      1019 Berclair Rd, Memphis, TN 38122-2729
      View Details
    • Value Estimation
      $205,000
      4,530 SF

      3430 Macon Rd

      DAY CARE, PRE-SCHOOL • 4,530 SF
      3430 Macon Rd, Memphis, TN 38122-2001
      View Details
    • Value Estimation
      $215,000
      1,292 SF

      3858 Summer Ave

      DAY CARE, PRE-SCHOOL • 1,292 SF
      3858 Summer Ave, Memphis, TN 38122-5210
      View Details
    • Value Estimation
      $225,000
      1,200 SF

      688 Avon Rd

      DAY CARE, PRE-SCHOOL • 1,200 SF
      688 Avon Rd, Memphis, TN 38122-4712
      View Details
    • Value Estimation
      $230,000
      2,159 SF

      3489 Jackson Ave

      DAY CARE, PRE-SCHOOL • 2,159 SF
      3489 Jackson Ave, Memphis, TN 38122-1142
      View Details
    • Value Estimation
      $1,350,000
      8,700 SF

      3788 Summer Ave

      FUNERAL HOME • 8,700 SF
      3788 Summer Ave, Memphis, TN 38122-3723
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,780 SF

      Memphis CMU-3 Zoned Building

      6,780 SF building in Memphis, TN, zoned CMU-3.
      3311 Jackson Ave, Memphis, TN 38122
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    • $350,000
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      Summer Ave Storefront Opportunity

      Prime Memphis retail space, vacant, 1181 sq ft.
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    • $1,900,000
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      Memphis Medical Office Investment Opportunity

      Stand-alone medical building in East Memphis with long-term tenant.
      3430 Summer Ave, Memphis, TN 38122
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    • $1,990,000
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      Former Walgreens Retail Space

      Memphis, TN: 14,392 SF, $1.99M
      3502 Summer Ave, Memphis, TN 38122
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    • Contact for pricing

      Restaurant and Retail Space Available

      Restaurant and retail property with existing infrastructure ready for business.
      3397 Summer Ave, Memphis, TN 38122
      View Details
    • $675,000

      Prime Memphis Car Wash Opportunity

      High-Income Car Wash, Excellent Location
      4954 Summer Ave, Memphis, TN 38122
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Restaurant Building on Summer Avenue

      Restaurant building for sublease with drive-thru and ample parking.
      4628 Summer Ave, Memphis, TN 38122
      View Details
    • $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
    • $18 SF/Yr
      6,000 SF

      Summer Ave Retail Space Available

      High-traffic Memphis retail space, 2300 SF remaining.
      4471 Summer Ave, Memphis, TN 38122
      View Details
    • $14 SF/Yr
      7,000 SF

      Retail Space For Lease

      Retail property for lease at a high-traffic intersection.
      3393 Summer Ave, Memphis, TN 38122
      View Details
    • $145 SF/Yr
      14,490 SF

      Prime Commercial Space For Rent

      Exceptional leasing opportunity in a prominent, accessible location.
      3502 Summer Ave, Memphis, TN 38122
      View Details
    • $14 SF/Yr
      1,700 SF

      Retail Space at Summer Avenue

      Retail space for lease at a high-traffic intersection.
      3393-3437 Summer Ave, Memphis, TN 38122
      View Details
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    4029 Summer Ave
    Memphis, TN 38122
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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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