Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5967 Us Hwy 51st N Millington, TN 38053-8342
    Back to Search
    Property profile & analytics

    5967 Us Hwy 51st N, Millington, TN 38053-8342

    View on Map
    • Warehouses
    • 7,150 SF
    • 19.11 lot acres
    Off-Market
    Property ID
    US80-2003906
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 5967 Us Hwy 51st N

    Year built
    2001
    Lot size
    19.11 lot acres
    Zone code
    R-6
    Property type
    Warehouses
    APN
    D01-36 - - -00006-C
    APU
    D013600006C

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 29, 2016 — Charles R Mallory — Deed · related $215k · Regions Bk
    May 4, 2016 — Charles R Mallory Dixieland Contractors INC Quit Claim Deed · related —
    — — Dixieland Contractors INC — Deed Of Trust · related $99k · Regions Bank
    — — Charles R Mallory — Deed Of Trust · related $215k · Regions Bk
    — — Dixieland Contractors INC — Deed Of Trust · related $125k · Regions Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Millington
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9686
    Latitude
    35.2886
    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
    $3,380
    $77,940
    $68,760
    $146,700
    -
    $277,200
    $171,900
    $449,100

    Comparable in this City

    • Value Estimation by Request
      4,641 SF

      8580 Us Hwy 51st N

      MINI-WAREHOUSE, STORAGE
      8580 Us Hwy 51st N, Millington, TN 38053-1534
      View Details
    • Value Estimation by Request
      8,950 SF

      7037 Ryburn Dr

      WAREHOUSE, STORAGE
      7037 Ryburn Dr, Millington, TN 38053-6200
      View Details
    • Value Estimation by Request
      4,048 SF

      6645 Navy Rd

      WAREHOUSE, STORAGE
      6645 Navy Rd, Millington, TN 38053-2736
      View Details
    • Value Estimation by Request
      5,540 SF

      6110 Us Hwy 51st N

      WAREHOUSE, STORAGE
      6110 Us Hwy 51st N, Millington, TN 38053-7808
      View Details
    • Value Estimation by Request
      5,684 SF

      4805 Cuba Millington Rd

      WAREHOUSE, STORAGE
      4805 Cuba Millington Rd, Millington, TN 38053-5401
      View Details
    • Value Estimation
      $930,000
      43,240 SF

      7030 Ryburn Dr

      MINI-WAREHOUSE, STORAGE
      7030 Ryburn Dr, Millington, TN 38053-6200
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Pre-Engineered Building For Sale

      Pre-engineered building featuring offices, shop area, and roll-up doors.
      5569 Old Millington Rd, Millington, TN 38053
      View Details
    • $2,000,000

      Millington Strip Center Investment

      Fully leased, high-yield commercial property.
      6347 Navy Rd, Millington, TN 38053
      View Details
    • Contact for pricing

      Highway 51 Frontage Land

      Commercial land with highway frontage near I-385 and baseball stadium.
      Us Highway 51 N, Millington, TN 38053
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space in Millington Heart

      Prime retail space in a well-connected Millington location.
      7713 Us Highway 51 N, Millington, TN 38053
      View Details
    • Contact for pricing
      Pending

      Two-Story Chapel with Classrooms

      Two-story chapel with classrooms and facilities on 4 acres.
      6368 Us 51 Hwy, Millington, TN 38053
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Millington, TN

      Retail space in a vibrant Millington community near Memphis.
      8645 Creek Mill Ct, Millington, TN 38053
      View Details
    • Contact for pricing

      Retail Space Available for Lease

      1,400 SF retail space for lease off Highway 51.
      11124 Us Highway 51 S, Millington, TN 38053
      View Details
    • Contact for pricing

      Land for New Development

      Proposed new commercial development site on Navy Road in Millington.
      Navy Rd, Millington, TN 38053
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Millington Center

      Retail space available in a 143,489 SF shopping center.
      8219 Us Highway 51 N, Millington, TN 38053
      View Details
    • Contact for pricing

      Retail Center on Highway 51

      Retail spaces available in Millington near major retailers.
      8390-8412 Us Highway 51 N, Millington, TN 38053
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5967 Us Hwy 51st N
    Millington, TN 38053-8342
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5967 Us Hwy 51st N, Millington, TN, 38053
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!