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    Property profile & analytics

    5445 Mendenhall Mall Memphis, TN 38115

    • Warehouses
    • 104,066 SF
    • 4.74 lot acres
    For Lease
    View listing
    $5 SF/Yr
    Last Sale
    May 19, 2024
    $7,265,220
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1175116
    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

    • Warehouses

    Property Details for 5445 Mendenhall Mall

    Year built
    1988
    Lot size
    4.74 lot acres
    Property size
    104,066 SF
    Zone code
    IH
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    093-400- - -00608
    APU
    9340000608

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $4,075,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $9,260,000
      Change: +127% Conversion: Difficult
      OFFICE BUILDING
      $8,605,000
      Change: +111% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $7,640,000
      Change: +88% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $7,200,000
      Change: +77% Conversion: Easy
      RETAIL STORES
      $6,845,000
      Change: +68% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8832
    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
    $87,415
    $81,560
    $1,353,440
    $1,435,000
    -
    $203,900
    $3,383,600
    $3,587,500

    Comparable in this City

    • Value Estimation
      $13,700,000
      500,000 SF

      5745 Challenge Dr

      MINI-WAREHOUSE, STORAGE • 500,000 SF
      5745 Challenge Dr, Memphis, TN 38115-5026
      View Details
    • Value Estimation
      $14,835,000
      419,065 SF

      5800 Challenge Dr

      MINI-WAREHOUSE, STORAGE • 419,065 SF
      5800 Challenge Dr, Memphis, TN 38115-5014
      View Details
    • Value Estimation
      $1,950,000
      28,000 SF

      6900 Raines Rd

      MINI-WAREHOUSE, STORAGE • 28,000 SF
      6900 Raines Rd, Memphis, TN 38115-5347
      View Details
    • Value Estimation by Request
      6,319 SF

      5141 American Way

      MINI-WAREHOUSE, STORAGE • 6,319 SF
      5141 American Way, Memphis, TN 38115-1528
      View Details
    • Value Estimation
      $24,940,000
      704,564 SF

      4155 Quest Way

      MINI-WAREHOUSE, STORAGE • 704,564 SF
      4155 Quest Way, Memphis, TN 38115-5017
      View Details
    • Value Estimation by Request
      6,512 SF

      2673 Mt Moriah Ter

      MINI-WAREHOUSE, STORAGE • 6,512 SF
      2673 Mt Moriah Ter, Memphis, TN 38115-1609
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,268 SF

      Memphis Flex Space For Sale

      16,268 SF flex space in Southeast submarket.
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      Memphis Industrial Building for Sale

      Industrial/Manufacturing property in Memphis, TN with strategic logistics.
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    • New
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      Affordable Memphis Office Space

      Well-located office space with owner financing in Memphis, TN.
      5507 Winchester Ave, Memphis, TN 38115
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    • $120,000

      Two Contiguous Commercial Land Parcels

      Two adjacent parcels totaling 0.863 acres available for purchase.
      5276 Mendenhall Park Pl, Memphis, TN 38115
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale in Memphis, Tennessee.
      6040 Winchester Rd, Memphis, TN 38115
      View Details
    • $250,000

      Modern Memphis Office Space

      Move-in Ready Office with 15 Parking Spaces
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    Similar Nearby for Lease

    • $4 SF/Yr
      243,588 SF

      6616 Winchester Rd

      Theaters & concert halls • 243,588 SF
      6616 Winchester Rd, Memphis, TN 38115
      View Details
    • $8 SF/Yr
      287,482 SF

      East Business Point Center: Flex Space Available

      Shelby County industrial space for lease; multiple suites.
      0 Business Pt Ctr, Memphis, TN 38115
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    • $5 SF/Yr
      46,000 SF

      Memphis Warehouse Space Available

      22,000 SF warehouse space for lease in Memphis.
      5445 Mendenhall Mall, Memphis, TN 38115
      View Details
    • Contact for pricing
      160,000 SF

      Memphis Warehouse Space Available

      160,000 sqft warehouse space for rent in Memphis, TN.
      5750 Challenge Dr, Memphis, TN 38115
      View Details
    • Contact for pricing
      354,640 SF

      Clarke Road Industrial Space Available

      354,640 SF industrial space for rent in Memphis, TN.
      4131 Clarke Rd, Memphis, TN 38115
      View Details
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    5445 Mendenhall Mall
    Memphis, TN 38115
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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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