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    Property profile & analytics

    4251 Pidgeon Roost Rd Memphis, TN 38118

    • Warehouses
    • 5,200 SF
    • 0.31 lot acres
    For Sale
    View listing
    $267,675
    Last Sale
    Apr 29, 2022
    $125,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0535202
    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

    • SealMaster / Basketball Court Contractor / Tennis Court Construction Company

    Property Details for 4251 Pidgeon Roost Rd

    Year built
    2003
    Lot size
    0.31 lot acres
    Property size
    5,200 SF
    Zone code
    EMP
    Property type
    Warehouses
    APN
    073-038- - -00011
    APU
    7303800011

    Description

    This exceptional investment opportunity presents a freestanding industrial warehouse located at 4251 Pidgeon Roost Rd, Memphis, TN 38118. The property boasts 3,999 square feet situated on a 0.62-acre lot. Currently 100% occupied under a triple-net (NNN) lease, the property offers a strong 8.00% capitalization rate with a Net Operating Income (NOI) of $21,414. The asking price is $267,675. The lease expires on March 31, 2027, and includes no renewal options. The tenant has a 10-year history at this location and is currently paying below-market rent, presenting a significant upside potential for the future. This is a rare chance to acquire a well-located, income-producing industrial asset in a thriving Memphis market. The property's size and location make it ideal for a variety of uses. The current lease structure minimizes landlord responsibilities, making this an attractive, low-maintenance investment. Don't miss this opportunity to add a high-performing asset to your portfolio.

    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
    -89.922
    Latitude
    35.0466
    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
    $3,299
    $8,080
    $46,080
    $54,160
    -
    $20,200
    $115,200
    $135,400

    Comparable in this City

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      3955 Holmes Rd

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      3955 Holmes Rd, Memphis, TN 38118-7727
      View Details
    • Value Estimation
      $28,430,000
      969,150 SF

      4155 Holmes Rd

      MINI-WAREHOUSE, STORAGE • 969,150 SF
      4155 Holmes Rd, Memphis, TN 38118-7709
      View Details
    • Value Estimation
      $21,040,000
      717,155 SF

      3292 Holmes Rd

      MINI-WAREHOUSE, STORAGE • 717,155 SF
      3292 Holmes Rd, Memphis, TN 38118-8102
      View Details
    • Value Estimation
      $29,355,000
      654,400 SF

      4795 Imagination Dr

      MINI-WAREHOUSE, STORAGE • 654,400 SF
      4795 Imagination Dr, Memphis, TN 38118-7822
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    • Value Estimation
      $16,770,000
      571,642 SF

      4770 Southpoint Dr

      MINI-WAREHOUSE, STORAGE • 571,642 SF
      4770 Southpoint Dr, Memphis, TN 38118-7532
      View Details
    • Value Estimation
      $30,935,000
      715,375 SF

      5155 Lamar Ave

      MINI-WAREHOUSE, STORAGE • 715,375 SF
      5155 Lamar Ave, Memphis, TN 38118-7819
      View Details

    Similar Nearby for Sale

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    • $267,675
      3,999 SF

      Free Standing Industrial Building

      Industrial building for sale, 100% occupied with long-term tenant.
      4251 Pidgeon Roost Rd, Memphis, TN 38118
      View Details

    Similar Nearby for Lease

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      13,500 SF

      Memphis Warehouse Space For Lease

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      Industrial Space Near BNSF Intermodal

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    • Contact for pricing
      922,500 SF

      Available Industrial Warehouse Space

      922,500 SF industrial space available for immediate lease.
      4155 E Holmes Rd, Memphis, TN 38118
      View Details
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    Memphis, TN 38118
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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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