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    5119 Summer Ave Memphis, TN 38122-4401
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    Property profile & analytics

    5119 Summer Ave Memphis, TN 38122-4401

    View on Map
    • Office buildings
    • 27,184 SF
    • 1.00 lot acres
    Off-Market
    Property ID
    US80-0167686
    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
    $1,050,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Joann Raby / Physician / Medical Clinic
    • Elicier Trucking Inc / Trucking Company
    • Truth Inc / Law Firm / Security Service
    • Bluff City Properties / Real Estate Agency
    • Prime Mens & Ladies Alterations / (Bike/Boat/Book/etc) Store

    Property Details for 5119 Summer Ave

    Year built
    1962
    Construction
    FRAME
    Lot size
    1.00 lot acres
    Property size
    27,184 SF
    Zone code
    CMU-3
    Property type
    Office buildings
    APN
    063-072- - -00032
    APU
    6307200032

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,273,000
      Market price range: $1.27M - $3.23M
      AI Estimate
      $1,273,000
      Market price range: $1.27M - $4.87M

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8898
    Latitude
    35.1514
    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
    $11,871
    $71,600
    $123,280
    $194,880
    -
    $179,000
    $308,200
    $487,200

    Comparable in this City

    • Value Estimation
      $1,340,000
      12,376 SF

      3337 Summer Ave

      OFFICE BUILDING • 12,376 SF
      3337 Summer Ave, Memphis, TN 38122-5136
      View Details
    • Value Estimation
      $7,420,000
      68,465 SF

      4841 Summer Ave

      OFFICE BUILDING • 68,465 SF
      4841 Summer Ave, Memphis, TN 38122-4733
      View Details
    • Value Estimation by Request
      4,555 SF

      3638 Summer Ave

      OFFICE BUILDING • 4,555 SF
      3638 Summer Ave, Memphis, TN 38122-3740
      View Details
    • Value Estimation by Request
      1,195 SF

      3681 Summer Ave

      OFFICE BUILDING • 1,195 SF
      3681 Summer Ave, Memphis, TN 38122-3742
      View Details
    • Value Estimation by Request
      1,920 SF

      3872 Summer Ave

      OFFICE BUILDING • 1,920 SF
      3872 Summer Ave, Memphis, TN 38122-5210
      View Details
    • Value Estimation by Request
      2,038 SF

      673 Stratford Rd

      OFFICE BUILDING • 2,038 SF
      673 Stratford Rd, Memphis, TN 38122-4129
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,953 SF

      Office and Warehouse Space Available

      Modern office building with warehouse space on Summer Avenue.
      3569 Summer Ave, Memphis, TN 38122
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    • Contact for pricing
      8,735 SF

      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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    • $300,000
      2,728 SF

      Memphis Office Space For Sale

      Office space available for purchase in Memphis, Tennessee.
      3498 Jackson Ave, Memphis, TN 38122
      View Details
    • Contact for pricing

      Remodeled Office and Warehouse Space

      Modern office and warehouse with high visibility on Summer Avenue.
      3569 Summer Ave, Memphis, TN 38122
      View Details
    • $225,000
      1.51 Acres

      Commercial Land in Memphis, TN

      1.51+/- acre commercial land with easy highway access.
      4720 Summer Ave, Memphis, TN 38122
      View Details
    • Contact for pricing

      380,505 SF Retail Center

      Retail center with strong co-tenancy and highway visibility.
      5230 Summer Ave, Memphis, TN 38122
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Summer Avenue Commercial House

      Commercial house on Summer Avenue, formerly a Chiropractor’s office.
      4029 Summer Ave, Memphis, TN 38122
      View Details
    • Contact for pricing
      3,123 SF

      East Memphis Commercial Space Available

      Move-in ready commercial space in the heart of East Memphis.
      650 S Perkins Rd, Memphis, TN 38122
      View Details
    • Contact for pricing

      Office Space Near Interstate Access

      Quiet office space with future expansion potential, convenient location.
      620 Sevier St, Memphis, TN 38122
      View Details
    • $20 SF/Yr
      900 SF

      Office Space on Summer Avenue

      Office space available for lease on Summer Avenue.
      3814 Summer Ave, Memphis, TN 38122
      View Details
    • Contact for pricing

      End Cap Retail/Office Space

      Move-in ready space at a high-traffic intersection near new developments.
      4899 Summer Ave, Memphis, TN 38122
      View Details
    • Contact for pricing

      Remodeled Office and Warehouse Space

      Modern office and warehouse with high visibility on Summer Avenue.
      3569 Summer Ave, Memphis, TN 38122
      View Details
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    5119 Summer Ave
    Memphis, TN 38122-4401
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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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