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

    6060 Primacy Pkwy Memphis, TN 38119

    • Office buildings
    • 130,593 SF
    • 6.27 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Last Sale
    Mar 13, 2025
    $6,554,250
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1661216
    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

    • Graceworks Pictures / Video Production Service
    • Memphis Heating & Air Conditioning Services / Air Conditioning Contractor
    • Effectv / Advertising Agency / Media Company
    • Dr. Howard Beale / Ophthalmologist
    • Matthew VanCleve / Attorney

    Property Details for 6060 Primacy Pkwy

    Year built
    1983
    Lot size
    6.27 lot acres
    Property size
    130,593 SF
    Zone code
    OG
    Property type
    Office buildings
    APN
    081-004- - -00025
    APU
    8100400025

    Description

    Primacy III, located at 6060 Primacy Parkway in Memphis, Tennessee, offers a diverse range of office spaces ideal for various business needs. This 46,181 square foot building in Shelby County's East submarket provides flexible options for tenants, with spaces ranging from a minimum of 1,390 square feet to a maximum contiguous space of 46,181 square feet. The building currently has 46,181 square feet of vacant space available, making it an excellent opportunity for businesses seeking immediate occupancy. The property's versatility is further enhanced by its suitability for traditional office, executive office, coworking, medical office, and creative office uses. Multiple tenancy is supported, allowing for a variety of configurations to accommodate different business sizes and requirements. The building's address is 6060 Primacy Parkway, Memphis, TN 38119. Its location in the East submarket of Shelby County offers convenient access to key transportation routes and amenities. This is a unique opportunity to secure high-quality office space in a desirable Memphis location. Contact us today to learn more about leasing options and to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8617
    Latitude
    35.0961
    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
    $310,944
    $969,520
    $4,134,920
    $5,104,440
    -
    $2,423,800
    $10,337,300
    $12,761,100

    Comparable in this City

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    • Value Estimation
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      6410 Poplar Ave

      OFFICE BUILDING (MULTI-STORY) • 222,517 SF
      6410 Poplar Ave, Memphis, TN 38119-4843
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    • Value Estimation
      $820,000
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      1049 Cresthaven Rd

      OFFICE BUILDING • 6,216 SF
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    • Value Estimation by Request
      1,980 SF

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      OFFICE BUILDING • 1,980 SF
      1017 Brookfield Rd, Memphis, TN 38119-3836
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    • Value Estimation
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      20,336 SF

      1000 Brookfield Rd

      OFFICE BUILDING • 20,336 SF
      1000 Brookfield Rd, Memphis, TN 38119-0802
      View Details
    • Value Estimation
      $8,950,000
      85,552 SF

      1255 Lynnfield Rd

      OFFICE BUILDING • 85,552 SF
      1255 Lynnfield Rd, Memphis, TN 38119-5161
      View Details

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      East Memphis Land For Sale

      0.64 acres of land in the heart of East Memphis.
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      4.28 Acres

      Memphis Commercial Land - 4.28 Acres

      Prime Memphis location, flexible zoning, high traffic.
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    Similar Nearby for Lease

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      3,945 SF

      Class A Office Space

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      6060 Poplar Ave, Memphis, TN 38119
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    • $35 SF/Yr
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      Memphis Office Space: Triad Centre I

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      Park Station Office Suites

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      View Details
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    Memphis, TN 38119
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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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