Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4233 3rd St Memphis, TN 38109-5178

    • Theaters & concert halls
    • 8,418 SF
    • 17.42 lot acres
    OFF-MARKET
    Last Sale
    Dec 22, 2021
    $470,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1446037
    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

    • Theaters & concert halls

    Property Details for 4233 3rd St

    Year built
    1969
    Lot size
    17.42 lot acres
    Property size
    8,418 SF
    Zone code
    CMU-3
    Property type
    Theaters & concert halls
    APN
    075-116- - -00013-C
    APU
    07511600013C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0765
    Latitude
    35.0339
    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
    2021
    $9,289
    $0.00
    $0.00
    $0.00
    -
    $360,700
    $16,100
    $376,800

    Comparable in this City

    • Value Estimation by Request
      0.14 Acres

      90 Fairway Ave Fairway

      RECREATIONAL, ENTERTAINMENT • 0.14 Acres
      90 Fairway Ave Fairway, Memphis, TN 38109-3802
      View Details
    • Value Estimation by Request
      4.53 Acres

      1998 12th St

      RECREATIONAL, ENTERTAINMENT • 4.53 Acres
      1998 12th St, Memphis, TN 38109
      View Details
    • Value Estimation by Request
      6,302 SF

      2178 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 6,302 SF
      2178 3rd St, Memphis, TN 38109-7734
      View Details
    • Value Estimation by Request
      0.14 Acres

      90 Fairway Ave Fairway

      RECREATIONAL, ENTERTAINMENT • 0.14 Acres
      90 Fairway Ave Fairway, Memphis, TN 38109-3802
      View Details
    • Value Estimation by Request
      1.06 Acres

      1891 Pretoria St

      RECREATIONAL, ENTERTAINMENT • 1.06 Acres
      1891 Pretoria St, Memphis, TN 38109-1931
      View Details
    • Value Estimation by Request
      0.14 Acres

      90 Fairway Ave Fairway

      RECREATIONAL, ENTERTAINMENT • 0.14 Acres
      90 Fairway Ave Fairway, Memphis, TN 38109-3802
      View Details

    Similar Nearby for Sale

    • $60,000
      1.27 Acres

      Memphis Land Development Opportunity

      Over an acre of land in a desirable residential area.
      436 Western Park Dr, Memphis, TN 38109
      View Details
    • $50,000
      2.48 Acres

      2.48 Acres Ready For Development

      2.48 acre lot with utilities in place for development.
      12Th Rd, Memphis, TN 38109
      View Details
    • Contact for pricing
      0.43 Acres

      Residential Land in Established Neighborhood

      0.43 acre residential land to build your dream home.
      386 SW Dixie Rd, Memphis, TN 38109
      View Details
    • Contact for pricing
      0.29 Acres

      Residential Lot in Memphis

      Residential lot for development or investment in Memphis, Tennessee.
      71 E Geeter Rd, Memphis, TN 38109
      View Details
    • Contact for pricing

      South Memphis Office/Warehouse with Yard

      Move-in ready office and warehouse facility with yard space.
      231 Parkway South Pkwy West, Memphis, TN 38109
      View Details
    • $129,500

      Renovated Home Plus Rental Unit

      Two homes on one lot, renovated and income-producing.
      564 W Peebles Rd, Memphis, TN 38109
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,000 SF

      Warehouse/Shop on 5.44 Acres

      15,000 SF warehouse/shop on 5.44 acres for lease/sale.
      2964 S 3Rd St, Memphis, TN 38109
      View Details
    • Contact for pricing
      105,310 SF

      Secured Industrial Park Warehouse Space

      Gated industrial park with ample loading and 18' clear height.
      234-350 Titan Dr, Memphis, TN 38109
      View Details
    • Contact for pricing
      15,000 SF

      Prime Shelby County Warehouse

      15,000 SF Warehouse, 5.44 Acres
      2964 3Rd St, Memphis, TN 38109
      View Details
    • $6 SF/Yr
      194,206 SF

      Southgate North Shopping Center Investment

      High-traffic retail center; 11 spaces available.
      1833 3Rd St, Memphis, TN 38109
      View Details
    • Contact for pricing
      22,100 SF

      Southwest Memphis Warehouse and Office

      22,100 SF industrial space with warehouse and office components.
      160 W Mallory Ave, Memphis, TN 38109
      View Details
    • Contact for pricing
      90,170 SF

      Secured Industrial Park Space

      Gated industrial park with ample loading and 18’ clear height.
      3389 Gemini Dr, Memphis, TN 38109
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4233 3rd St
    Memphis, TN 38109-5178
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!