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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Office buildings
5658 Rex Rd Memphis, TN 38119-3807
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US80-1012232
Property summary
AI-generated overview
This exceptional executive office property, located at 5658 S Rex Rd in Memphis, Tennessee, offers a rare opportunity for businesses seeking flexible and high-quality space. The building, constructed in 1985 and classified as Class C, boasts a total of 5,389 square feet and is currently offering 5,400 square feet of vacant space. The property is divided into two suites, with a minimum divisible space of 2,400 square feet and a maximum contiguous space of 3,000 square feet, providing excellent options for various business needs. Situated in Shelby County, with easy access to major transportation routes, this location offers unparalleled convenience for employees and clients alike. The property's multiple tenancy structure allows for a diverse range of businesses to coexist, fostering a vibrant and collaborative environment. This is an ideal opportunity for companies seeking a well-maintained, functional office space in a prime Memphis location. The address is 5658 S Rex Rd, Memphis, TN 38119. The property is ready for immediate occupancy. Contact us today to schedule a viewing and explore the possibilities of establishing your business in this exceptional space. The building's total square footage is 5,389 square feet.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Total area
5,389 SF
Lot
0.37 ac (15,987 SF)
Zoning code
OG
APN
056-063- - -00019
UPID
US80-1012232
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Millennial Management Marketing & Advertising Advertising Agency
-
Alicia Davis Physician
-
Living Health Day Spa Alternative Medicine Practice Spa & Massage Center
-
Tennessee School of Massage Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$567k
Blend (final)
Blend
$725k
Owner & transaction history
Jeez Properties LLC · 1 yrs held
Jeez Properties LLC
since 2024
Last sale
$840,000
3 recorded transactions
Zoning & alternative use
OG · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$770,000
+4.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Memphis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Memphis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$740,000
Current use
MEDICAL BUILDING
$770,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $840k (Aug 5 2024)
Last sale anchor
$840k
Aug 5 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$135 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$11,901
Tax year 2022
Assessed value
$195,360
Assessed 2023
Previous assessed
$195,360
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$76,360
Assessed improvement
$119,000
Land market value
$190,900
Improvement market value
$297,500
Total market value
$488,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1985
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
5,389 SF
Lot
0.37 ac (15,987 SF)
Zoning code
OG
APN
056-063- - -00019
UPID
US80-1012232
Jurisdiction
SHELBY
Zoning & alternative use
OG · Memphis, TN
Zoning OG · permitted uses
OG · Memphis, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Memphis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$740,000
MEDICAL BUILDING
Est. value
$770,000
OFFICE BUILDING Current
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
Jeez Properties LLC
Entity
Mailing address
560 VALLEYBROOK DR, MEMPHIS, TN 38120-2704
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2024
$840,000
Jeez Properties LLC
Ralph W Yaffe
Special Warranty Deed
$676,241 · Renasant Bank
Mar 27, 2024
—
Ralph Yaffe
Rwy Investments LLC
Quit Claim Deed
related
—
Feb 4, 2005
—
Rwy Investments LLC
Yaffe,ralph W & Carol A
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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