Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    629 Monroe Ave Memphis, TN 38103

    Property Lookup

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

    629 Monroe Ave Memphis, TN 38103

    View on Map
    • Warehouses
    • 12,741 SF
    • 0.30 lot acres
    For Sale
    $1,000,000
    View Listing →
    Edge District Retail Space For Sale
    $1,000,000
    10,032 SF

    Edge District Retail Space

    Ground floor retail space in growing Edge District.

    629 Monroe Ave, Memphis, TN 38103
    View Listing
    Property ID
    US80-0902075
    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

    • Premiere Palace Ballroom / Hotel & Motel / Resort
    • Hotel / Hotel & Motel
    • Premiere Contractors Inc / Construction Company / General Contractor

    Property Details for 629 Monroe Ave

    Year built
    1925
    Lot size
    0.30 lot acres
    Property size
    12,741 SF
    Zone code
    CBD
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    007-031- - -00024
    APU
    703100024

    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
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0401
    Latitude
    35.1403
    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
    $5,205
    $59,680
    $25,760
    $85,440
    -
    $149,200
    $64,400
    $213,600

    Comparable in this City

    • Value Estimation
      $3,310,000
      49,359 SF

      395 Un Ave

      MINI-WAREHOUSE, STORAGE • 49,359 SF
      395 Un Ave, Memphis, TN 38103-3215
      View Details
    • Value Estimation by Request
      29,800 SF

      16 Monroe Ave

      MINI-WAREHOUSE, STORAGE • 29,800 SF
      16 Monroe Ave, Memphis, TN 38103
      View Details
    • Value Estimation by Request
      8,060 SF

      413 Monroe Ave

      MINI-WAREHOUSE, STORAGE • 8,060 SF
      413 Monroe Ave, Memphis, TN 38103-3211
      View Details
    • Value Estimation by Request
      6,750 SF

      412 2nd St

      MINI-WAREHOUSE, STORAGE • 6,750 SF
      412 2nd St, Memphis, TN 38103-4327
      View Details
    • Value Estimation
      $550,000
      30,904 SF

      730 Main St

      MINI-WAREHOUSE, STORAGE • 30,904 SF
      730 Main St, Memphis, TN 38103-4816
      View Details
    • Value Estimation by Request
      14,648 SF

      491 Main St

      MINI-WAREHOUSE, STORAGE • 14,648 SF
      491 Main St, Memphis, TN 38103-4442
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25,668 SF

      Downtown Memphis Commercial Property

      25,668 sq ft commercial property in Downtown Memphis.
      554 Adams Ave, Memphis, TN 38103
      View Details
    • Contact for pricing
      16,000 SF

      Downtown Memphis Historic Building

      Four-story, 16,000 SF building with adjacent lot in downtown.
      491 S Main St, Memphis, TN 38103
      View Details
    • Contact for pricing
      11,250 SF

      Historic Office Building with Warehouse

      Two-story office building with warehouse space in Downtown Memphis.
      189 Jefferson Ave, Memphis, TN 38103
      View Details
    • Contact for pricing

      Warehouse and Office Building

      Two contiguous buildings with warehouse and office space available.
      610 Monroe Ave, Memphis, TN 38103
      View Details
    • Contact for pricing
      9,254 SF

      Versatile Warehouse and Office Buildings

      Two contiguous buildings offering warehouse and office space.
      610 Monroe Ave, Memphis, TN 38103
      View Details
    • Contact for pricing
      5,280 SF

      Freight Distribution and Trucking Facility

      Freight distribution and trucking facility in downtown Memphis.
      65 W Carolina Ave, Memphis, TN 38103
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Divisible Warehouse Space in Memphis

      Flexible warehouse space in the vibrant Edge District of Memphis.
      336 Monroe Avenue Ext, Memphis, TN 38103
      View Details
    • $10,000 /Mo

      Downtown Memphis Mixed-Use Property

      Massive mixed-use property in Downtown Memphis suitable for various purposes.
      128 Adams Ave, Memphis, TN 38103
      View Details
    • Sponsored
      Contact for pricing

      TN, Memphis - S Main Street

      Workspaces, services and support to help you grow your business in TN, Memphis - S Main Street
      107 Main St, Memphis, TN 38103
      View Details
    • Contact for pricing

      Memphis Redevelopment Project in Edge

      High-profile redevelopment project in the transitioning Edge District trade area.
      421 Monroe Blvd, Memphis, TN 38103
      View Details
    • Contact for pricing

      Downtown Memphis Retail Space

      Retail space for lease in Downtown Memphis.
      363 S Front St, Memphis, TN 38103
      View Details
    • Contact for pricing
      4,000 SF

      Restaurant Space in Downtown Memphis

      4,000 SF fully built-out restaurant space for lease.
      10 S Main St, Memphis, TN 38103
      View Details
    View Listing
    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.
    629 Monroe Ave
    Memphis, TN 38103
    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

    629 Monroe Ave, Memphis, TN, 38103

    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!