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Property profile & analytics
FOR LEASE
Office buildings
6075 Poplar Ave Memphis, TN 38119
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-1023006
For Lease
Contact for pricing
6075 Poplar Ave, Memphis, TN 38119
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Property summary
AI-generated overview
This exceptional sublease opportunity presents 2,697 square feet of Class A office space on the ground floor of the Crescent Center, located in Memphis' vibrant East submarket. Situated at the intersection of Poplar and Ridgeway, this single-story space within a ten-story building offers abundant natural light. The building, constructed in 1986 and extensively renovated in 2020, boasts a 12-foot ceiling height and provides convenient access to a fitness center and covered parking (3.47 spaces per 1,000 square feet). The entire 356,188 square foot building offers multiple tenancies, with this specific unit representing the minimum divisible space available. The sublease agreement expires September 30, 2024. Building amenities include elevators and 24-hour access. The property sits on a 6.86-acre lot and is identified by APN 08-1002-0-0005C. This is an ideal location for businesses seeking a modern, well-maintained office space in a prime Memphis location. The space is immediately available.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1986
Total area
359,219 SF
Lot
10.18 ac (443,354 SF)
Zoning code
OG
APN
081-002- - -00005-C
UPID
US80-1023006
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
-
HREC - Memphis Office Hotel & Motel
-
Adams and Reese LLP Law Firm
-
Baertels Eric Insurance Agency
-
Wells Fargo Advisors Financial Advisor
-
Miles Mason Family Law Group, PLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$90.19M
Comparable Approach
Comparable
$69.20M
Blend (final)
Blend
$66.64M
Owner & transaction history
Crscent Center Memphis LLC · 4 yrs held
Crscent Center Memphis LLC
since 2021
Last sale
$67.5M
6 recorded transactions
Zoning & alternative use
OG · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$110.6M
+124.8%
Medical building
$51.4M
+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
$54,210,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$97,710,000
6.5%
$90,190,000
7%
$83,750,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$49,215,000
Current use
RESTAURANT
$110,620,000
Change: +125% · Conversion: Moderate
MEDICAL BUILDING
$51,385,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$66.64M
Range $59.97M – $73.30M · ±10% · vs last sale $67.50M (Sep 28 2021)
Last sale anchor
$67.50M
Sep 28 2021
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
$185 / 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
$1,546,365
Tax year 2022
Assessed value
$25,385,040
Assessed 2023
Previous assessed
$25,385,040
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$4,234,360
Assessed improvement
$21,150,680
Land market value
$10,585,900
Improvement market value
$52,876,700
Total market value
$63,462,600
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 (MULTI-STORY)
Status
For Lease
Year built
1986
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
4
Stories
2
Total area
359,219 SF
Lot
10.18 ac (443,354 SF)
Zoning code
OG
APN
081-002- - -00005-C
UPID
US80-1023006
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
$49.2M
RESTAURANT
Est. value
$110.6M
MEDICAL BUILDING
Est. value
$51.4M
OFFICE BUILDING Current
RESTAURANT
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
1986
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
4
Lot
10.18 ac
Current owner
From public records · entity-resolved
Crscent Center Memphis LLC
Entity
Mailing address
5475 G ST, CHINO, CA 91710-5233
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2023
—
Crescent Center Memphis LLC
—
Deed
related
$52,000,000 · Greystone Select Co LLC
Sep 28, 2021
—
Crscent Center Memphis LLC
Highwood Realty Limited Partnership
Quit Claim Deed
related
—
Sep 28, 2021
$67,500,000
Crescent Center Memphis LLC
Highwoods Realty Limited Partnershi
Special Warranty Deed
$50,375,000 · Voya Investment Management Co LLC
Jul 28, 2010
$50,300,000
Hrlp Crescent Center LLC
Ipc Crescent Center LLC
Grant Deed
—
Nov 1, 2005
$63,000,000
Ipc Crescent Center LLC
Crescent Forum Ptshp
Deed Of Trust
related
$43,000,000 · Bank Of America
Jun 6, 2001
—
Crescent Forum Partnership
New Crescent Center Corp
Quit Claim Deed
related
$29,500,000 · Variable Annuity Life Ins Co
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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