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    577 Germantown Pkwy Cordova, TN 38018-6211
    Property profile & analytics

    577 Germantown Pkwy Cordova, TN 38018-6211

    View on Map
    • Outlet malls
    • 223,023 SF
    • 20.31 lot acres
    Off-Market
    Property ID
    US80-2096604
    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
    $14,505,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Walmart Pharmacy / Pharmacy
    • Walmart Bakery / Bakery / Specialty Food Shop
    • Walmart Home Theater Installation / Electrical Service / General Contractor
    • Walmart House Cleaning Services / Hardware & Home Improvement
    • KeyMe Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store

    Property Details for 577 Germantown Pkwy

    Year built
    2003
    Lot size
    20.31 lot acres
    Property size
    223,023 SF
    Zone code
    IH
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    091-080- - -00028
    APU
    9108000028

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $13,627,000
      Market price range: $8.46M - $33.7M
      AI Estimate
      $12,488,000
      Market price range: $5.41M - $33.7M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $20,035,000
      Current use
      AUTO REPAIR, GARAGE
      $22,310,000
      Change: +11% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $19,915,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cordova
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.7978
    Latitude
    35.1408
    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
    $463,998
    $2,900,960
    $4,716,000
    $7,616,960
    -
    $7,252,400
    $11,790,000
    $19,042,400

    Comparable in this City

    • Value Estimation
      $3,135,000
      136,200 SF

      374 Germantown Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 136,200 SF
      374 Germantown Pkwy, Cordova, TN 38018-4204
      View Details
    • Value Estimation by Request
      6,400 SF

      7940 Fischer Steel Rd

      SHOPPING CENTER, STRIP CENTER • 6,400 SF
      7940 Fischer Steel Rd, Cordova, TN 38018-6203
      View Details
    • Value Estimation
      $3,990,000
      16,705 SF

      1010 Germantown Pkwy

      SHOPPING CENTER, STRIP CENTER • 16,705 SF
      1010 Germantown Pkwy, Cordova, TN 38018-5892
      View Details
    • Value Estimation
      $725,000
      6,880 SF

      975 Germantown Pkwy

      SHOPPING CENTER, STRIP CENTER • 6,880 SF
      975 Germantown Pkwy, Cordova, TN 38018-5802
      View Details
    • Value Estimation
      $2,240,000
      4,338 SF

      765 Germantown Pkwy

      SHOPPING CENTER, STRIP CENTER • 4,338 SF
      765 Germantown Pkwy, Cordova, TN 38018-6254
      View Details
    • Value Estimation
      $1,780,000
      4,131 SF

      775 Germantown Pkwy

      SHOPPING CENTER, STRIP CENTER • 4,131 SF
      775 Germantown Pkwy, Cordova, TN 38018-6885
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Premium Retail Center For Sale

      22,000 SF retail center in a bustling Cordova location.
      465 North Germantown Pkwy, Memphis, TN 38018
      View Details
    • Contact for pricing

      Mixed-Use Center in Strong Corridor

      Established mixed-use center with upside in a prime location.
      7990 Trinity Rd, Cordova, TN 38018
      View Details
    • Contact for pricing

      Cordova Development Opportunity For Sale

      New development with retail and residential opportunities in Cordova, Tennessee.
      Swc Walnut Grv Rd & Houston Levee Rd, Cordova, TN 38018
      View Details
    • Contact for pricing

      Walmart Shadow Shopping Center

      47,939 SF shopping center at Germantown Parkway and Trinity Road.
      7990 Trinity Rd, Cordova, TN 38018
      View Details
    • Contact for pricing

      Former Bank Suite with Drive-Thru

      3,000 SF move-in ready suite with drive-thru in Germantown.
      1215-1227 S Germantown Rd, Memphis, TN 38018
      View Details
    • Contact for pricing

      Retail Space on Germantown Parkway

      1,500 SF retail space in high-traffic Germantown Parkway corridor.
      1010 North Germantown Pkwy, Memphis, TN 38018
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Cordova Retail and Office Space

      Neighborhood shops and Class A office space for lease.
      815 Exocet Dr, Memphis, TN 38018
      View Details
    • Contact for pricing

      Cordova Retail Space Available Now

      Retail space in Germantown Station, Cordova, available for rent.
      750 N Germantown Pkwy, Memphis, TN 38018
      View Details
    • $5,880 /Mo

      Prime Commercial Location Available Soon

      Spacious retail space available September 1, 2024, near Germantown Parkway.
      990 N Germantown Pkwy, Cordova, TN 38018
      View Details
    • Contact for pricing
      1,500 SF

      Restaurant/Retail Space Near Germantown Parkway

      Former restaurant space available for lease near Germantown Parkway.
      8095 Macon Rd, Cordova, TN 38018
      View Details
    • $28 SF/Yr
      20,427 SF

      Restaurant Space For Lease

      2,996 SF restaurant space available on Germantown Parkway.
      420 S Germantown Rd, Cordova, TN 38018
      View Details
    • Contact for pricing

      Turn-Key Retail/Café Space Available

      Vibrant 3,000 SF space ideal for retail or café.
      8100 Macon Station Dr, Memphis, TN 38018
      View Details
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    Cordova, TN 38018-6211
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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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