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    Property profile & analytics

    4202 Hacks Cross Rd Memphis, TN 38125-3757

    • Strip malls
    • 31,941 SF
    • 4.88 lot acres
    OFF-MARKET
    Last Sale
    Nov 21, 2022
    $5,790,000
    Value Estimations
    $4,620,000
    Show details
    Cap Rate Potential
    9.3%
    Strip malls
    Location Intelligence
    Property ID
    US80-0926552
    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

    • Barbershop Lounge / Barber Shop
    • Smart Drive Academy / Driving School
    • Staffmark / Employment Agency / Employment Center
    • Kumon Math and Reading Center of Memphis - Southwind / Tutoring Service / After School Program
    • Runway Redi / Clothing Store

    Property Details for 4202 Hacks Cross Rd

    Year built
    2008
    Lot size
    4.88 lot acres
    Property size
    31,941 SF
    Zone code
    CA
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    D02-42 - - -00461
    APU
    D024200461

    Description

    Hacks Cross Plaza, a 31,861 square foot shopping center in Memphis, Tennessee, presents a compelling investment opportunity. This fee-simple property boasts 100% occupancy with a diverse roster of 10 tenants, including nationally recognized brands like Family Dollar, QuickCash Taxes, Kumon, and Staffmark. Built in 2008, the single-story building sits on a 4.88-acre lot and offers a Net Operating Income (NOI) of $462,446, resulting in a 7.17% capitalization rate. The asking price is $6,450,378, translating to $202.45 per square foot. The property benefits from a strong local demographic, with over 154,000 people residing within a five-mile radius, showcasing an 18.82% population growth from 2010 to 2021. Its strategic location on Hacks Cross Road, experiencing 38,768 vehicles daily, and proximity to Bill Morris Parkway (51,902 vehicles daily) ensures high visibility and accessibility. The presence of numerous national brands nearby, including Popeyes, Krispy Kreme, Nissan, Honda, and Cracker Barrel, further enhances the property's appeal and potential for increased foot traffic. This net-lease investment offers a credit-rated tenant base, providing stability and security for investors. The property's size and tenant mix provide a diversified income stream.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,605,000
      ML approach
      $4,875,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,130,000
      6.5%
      $6,580,000
      7%
      $6,110,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,995,000
      Market price range: $1.02M - $4.25M

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.7947
    Latitude
    35.0338
    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
    $66,460
    $998,080
    $962,400
    $1,960,480
    -
    $2,495,200
    $2,406,000
    $4,901,200

    Comparable in this City

    • Value Estimation
      $605,000
      106,296 SF

      7741 Centennial Dr

      SHOPPING CENTER, STRIP CENTER • 106,296 SF
      7741 Centennial Dr, Memphis, TN 38125
      View Details
    • Value Estimation
      $1,065,000
      12,090 SF

      8071 Shelby Dr

      SHOPPING CENTER, STRIP CENTER • 12,090 SF
      8071 Shelby Dr, Memphis, TN 38125-3202
      View Details
    • Value Estimation
      $1,450,000
      12,317 SF

      3650 Southwind Park Cv

      SHOPPING CENTER, STRIP CENTER • 12,317 SF
      3650 Southwind Park Cv, Memphis, TN 38125-8513
      View Details
    • Value Estimation
      $480,000
      41,230 SF

      7915 Winchester Rd

      SHOPPING CENTER, STRIP CENTER • 41,230 SF
      7915 Winchester Rd, Memphis, TN 38125-2362
      View Details
    • Value Estimation
      $465,000
      18,939 SF

      7706 Winchester Rd

      SHOPPING CENTER, STRIP CENTER • 18,939 SF
      7706 Winchester Rd, Memphis, TN 38125-2399
      View Details
    • Value Estimation
      $400,000
      15,825 SF

      7464 Winchester Rd

      SHOPPING CENTER, STRIP CENTER • 15,825 SF
      7464 Winchester Rd, Memphis, TN 38125-2205
      View Details

    Similar Nearby for Sale

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      49,548 SF

      Retail Space in Centennial Crossing

      Retail property for sale in a high-income area.
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      Winchester Road Retail Opportunity

      High-Visibility Memphis Retail Building
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    • $1,299,999
      7.84 Acres

      East Memphis Land Opportunity

      8+/- acres in East Memphis, zoned R-15.
      3515 Hacks Cross Rd, Memphis, TN 38125
      View Details
    • Contact for pricing
      8.45 Acres

      Prime Memphis Commercial Land

      8.45 Acres, High-Traffic Location
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      4.40 Acres

      Memphis Residential Land - 4.4 Acres

      Prime 4.4-acre residential lot, Memphis, TN
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    Similar Nearby for Lease

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      Memphis Retail Space: Prime Location, High Traffic
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      High-traffic shopping center with available space
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      View Details
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      1,410 SF

      Retail Center on Winchester Road

      28,860 SF retail center with high visibility.
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      View Details
    • $16 SF/Yr
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      Cotton Plant Shops: Memphis Retail

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      Restaurant Space Near Major Roadways

      5,842 SF restaurant space on 1.3 acres for lease.
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      2,605 SF

      Retail Space on Winchester Road

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      View Details
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    Memphis, TN 38125-3757
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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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