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    4628 Summer Ave Memphis, TN 38122
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    Property profile & analytics

    4628 Summer Ave Memphis, TN 38122

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    • Drive through restaurants
    • 2,792 SF
    • 0.82 lot acres
    For Lease
    View Listing →
    Restaurant Building on Summer Avenue 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 Listing
    Property ID
    US80-2737925
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hardee's / Restaurant / Take-out & Catering

    Property Details for 4628 Summer Ave

    Year built
    2015
    Lot size
    0.82 lot acres
    Property size
    2,792 SF
    Zone code
    CMU-3
    Property type
    Drive through restaurants
    APN
    063-022- - -00039-C
    APU
    06302200039C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9066
    Latitude
    35.149
    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
    $20,816
    $86,840
    $254,880
    $341,720
    -
    $217,100
    $637,200
    $854,300

    Comparable in this City

    • Value Estimation by Request
      1,722 SF

      4348 Summer Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,722 SF
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    • Value Estimation by Request
      3,570 SF

      5033 Summer Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,570 SF
      5033 Summer Ave, Memphis, TN 38122-4342
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    • Value Estimation by Request
      1,928 SF

      4985 Summer Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,928 SF
      4985 Summer Ave, Memphis, TN 38122-4358
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    • Value Estimation by Request
      602 SF

      3349 Jackson Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 602 SF
      3349 Jackson Ave, Memphis, TN 38122-1132
      View Details
    • Value Estimation
      $2,140,000
      1,872 SF

      4306 Summer Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,872 SF
      4306 Summer Ave, Memphis, TN 38122-4000
      View Details
    • Value Estimation by Request
      2,599 SF

      5015 Summer Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,599 SF
      5015 Summer Ave, Memphis, TN 38122-4342
      View Details

    Similar Nearby for Sale

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      Renovated Restaurant with Drive-Thru

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      2,407 SF

      Renovated Restaurant with Drive-Thru

      Newly renovated restaurant with drive-thru on Summer Avenue in Memphis.
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      Renovated Restaurant with Drive-Thru

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      14,392 SF

      Former Walgreens on Summer Avenue

      Former Walgreens available on Summer Avenue in Memphis, Tennessee.
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      380,505 SF Retail Center

      Retail center with strong co-tenancy and highway visibility.
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      7,740 SF

      Midas Investment Opportunity in Memphis

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    Similar Nearby for Lease

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      Retail Building with Drive-Thru

      Proposed retail building with drive-thru on Summer Avenue.
      4307 Summer Ave, Memphis, TN 38122
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      Restaurant Building on Summer Avenue

      Restaurant building for sublease with drive-thru and ample parking.
      4628 Summer Ave, Memphis, TN 38122
      View Details
    • Contact for pricing
      1,298 SF

      Retail Space on Poplar Avenue

      Retail space with high visibility and traditional architecture.
      690-700 S Mendenhall Rd, Memphis, TN 38122
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      140,000 SF

      Retail Space in Perimeter Center

      Retail opportunity at I-240 and I-40 interchange facing Summer Avenue.
      5280 Summer Ave, Memphis, TN 38122
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      Retail Space on Summer Avenue

      Retail space available in a high-traffic area.
      4471 Summer Ave, Memphis, TN 38122
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      Summer Avenue Commercial House

      Commercial house on Summer Avenue, formerly a Chiropractor’s office.
      4029 Summer Ave, Memphis, TN 38122
      View Details
    View Listing
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    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.

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    4628 Summer Ave, Memphis, TN, 38122
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