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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5959 Park Ave Memphis, TN 38119-5200

    • Hospitals
    • 861,882 SF
    • 34.67 lot acres
    OFF-MARKET
    Value Estimations
    $32,895,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1324668
    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

    • St Francis Hospital: Weems Joseph L MD / Physician
    • Fresenius Medical Care at St. Francis Hospital, Acute / Medical Clinic
    • Saint Francis Hospital - Memphis: Emergency Room / Hospital
    • St Francis Hospital: Stricklin Jeffrey B / Physician
    • St Francis Hospital: Siddiqui Hina F DO / Physician

    Property Details for 5959 Park Ave

    Year built
    1974
    Lot size
    34.67 lot acres
    Property size
    861,882 SF
    Zone code
    CMP-1
    Property type
    Hospitals
    APN
    081-004- - -00049
    APU
    8100400049

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $31,276,000
      Market price range: $21.8M - $91.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8644
    Latitude
    35.0975
    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
    2021
    $1,422,432
    $2,431,400
    $20,648,600
    $23,080,000
    -
    $6,078,500
    $51,621,500
    $57,700,000

    Comparable in this City

    • Value Estimation
      $3,465,000
      24,290 SF

      5959 Park Ave

      HOSPITAL - PRIVATE • 24,290 SF
      5959 Park Ave, Memphis, TN 38119-5200
      View Details
    • Value Estimation
      $1,180,000
      66,327 SF

      6733 Quince Rd

      HOMES (RETIRED, NURSING) • 66,327 SF
      6733 Quince Rd, Memphis, TN 38119-8602
      View Details
    • Value Estimation by Request
      3,014 SF

      7878 Winchester Hls

      MEDICAL BUILDING • 3,014 SF
      7878 Winchester Hls, Memphis, TN 38119
      View Details
    • Value Estimation
      $1,725,000
      13,196 SF

      5190 Park Ave

      MEDICAL BUILDING • 13,196 SF
      5190 Park Ave, Memphis, TN 38119-3500
      View Details
    • Value Estimation
      $780,000
      43,541 SF

      6025 Primacy Pkwy

      HOMES (RETIRED, NURSING) • 43,541 SF
      6025 Primacy Pkwy, Memphis, TN 38119-5763
      View Details
    • Value Estimation
      $2,265,000
      19,936 SF

      6485 Poplar Ave

      MEDICAL BUILDING • 19,936 SF
      6485 Poplar Ave, Memphis, TN 38119-4838
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      46,851 SF

      Pershing School: Adaptive Reuse Opportunity

      Historic Memphis school, 46,851 SF, 3.56 acres.
      5915 Park Ave, Memphis, TN 38119
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    • $1,100,000

      East Memphis Land For Sale

      0.64 acres of land in the heart of East Memphis.
      5450 Poplar Ave, Memphis, TN 38119
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      2,204 SF

      East Memphis Office/Retail Building

      2,204 SF office/retail building with warehouse/service area.
      968 Reddoch Cv, Memphis, TN 38119
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    • Contact for pricing
      2,149 SF

      East Memphis Office Building

      Office building in the heart of East Memphis.
      948 Reddoch Cv, Memphis, TN 38119
      View Details
    • Contact for pricing
      2,149 SF

      East Memphis Executive Office Building

      Prime East Memphis location, high NOI.
      948 Reddoch Cv, Memphis, TN 38119
      View Details
    • Contact for pricing
      4.28 Acres

      Memphis Commercial Land - 4.28 Acres

      Prime Memphis location, flexible zoning, high traffic.
      0 Quince Rd, Memphis, TN 38119
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      37,588 SF

      Park Station Office Suites

      East Memphis Office Space, 6,000 SF Available
      5180 Park Ave, Memphis, TN 38119
      View Details
    • Contact for pricing
      14,000 SF

      Medical Space Available For Rent

      Healthcare space featuring a laboratory, reception area, and workstations.
      6518-6564 Quince Rd, Memphis, TN 38119
      View Details
    • $240 SF/Yr
      100,904 SF

      Lynnfield Office Park: East Memphis

      Prime East Memphis Office Space: 27 Suites Available
      1555 Lynnfield Rd, Memphis, TN 38119
      View Details
    • Contact for pricing
      123,859 SF

      Primacy I Office Building: East Memphis

      Modern Office Space, Excellent Location
      6077 Primacy Pkwy, Memphis, TN 38119
      View Details
    • $22 SF/Yr
      15,538 SF

      Memphis Office Space: Triad Centre I

      Prestigious Memphis office suites, flexible options.
      6000 Poplar Ave, Memphis, TN 38119
      View Details
    • Contact for pricing
      5,000 SF

      Prime East Memphis Retail Space

      5,000 SF Freestanding Building - Vacant
      6267 Poplar Ave, Memphis, TN 38119
      View Details

    Property Visit Statistics

    • Visits by month
      6.8k
    • Visitors by month
      6.1k
    • Avg Time on site
      37 min
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    Memphis, TN 38119-5200
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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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