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    Property profile & analytics

    6671 Summer Ave Bartlett, TN 38134-4788

    • Strip malls
    • 8,580 SF
    • 0.86 lot acres
    OFF-MARKET
    Last Sale
    Mar 25, 2020
    $188,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1272584
    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

    • Renasant Bank / Bank / Loan Service
    • Maclin Security Doors, Inc. / Building Supply / Renovation Specialist

    Property Details for 6671 Summer Ave

    Year built
    2018
    Lot size
    0.86 lot acres
    Property size
    8,580 SF
    Zone code
    C-H
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    B02-01 - - -00181
    APU
    B020100181

    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
    Bartlett
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8406
    Latitude
    35.1988
    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
    $18,217
    $82,000
    $455,360
    $537,360
    -
    $205,000
    $1,138,400
    $1,343,400

    Comparable in this City

    • Value Estimation by Request
      8,770 SF

      6412 Summer Ave

      SHOPPING CENTER, STRIP CENTER • 8,770 SF
      6412 Summer Ave, Bartlett, TN 38134-5966
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    • Value Estimation by Request
      8,621 SF

      6337 Summer Ave

      SHOPPING CENTER, STRIP CENTER • 8,621 SF
      6337 Summer Ave, Bartlett, TN 38134-5984
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    • Value Estimation by Request
      6,749 SF

      6240 Stage Plz

      SHOPPING CENTER, STRIP CENTER • 6,749 SF
      6240 Stage Plz, Bartlett, TN 38134-3704
      View Details
    • Value Estimation
      $1,780,000
      35,136 SF

      5725 Raleigh Lagrange Rd

      SHOPPING CENTER, STRIP CENTER • 35,136 SF
      5725 Raleigh Lagrange Rd, Memphis, TN 38134
      View Details
    • Value Estimation
      $4,620,000
      91,449 SF

      6150 Macon Rd

      SHOPPING CENTER, STRIP CENTER • 91,449 SF
      6150 Macon Rd, Memphis, TN 38134
      View Details
    • Value Estimation
      $620,000
      6,520 SF

      3025 Kirby Whitten Rd

      SHOPPING CENTER, STRIP CENTER • 6,520 SF
      3025 Kirby Whitten Rd, Bartlett, TN 38134-2868
      View Details

    Similar Nearby for Sale

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      6,493 SF

      Retail Property on Summer Avenue

      6,493 SF retail property available for sale.
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      Prime Bartlett Retail Opportunity

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      1,818 SF

      High-Visibility Retail Property For Sale

      Retail property with drive-thru, modern finishes, and ample parking.
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      Retail Flex Building in Bartlett

      6,218 SF retail flex building in historic district.
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    • $149,977
      2.95 Acres

      Development Opportunity Land in Bartlett

      2.96 acres of land suitable for residential development.
      5259 Stage Ave, Bartlett, TN 38134
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    Similar Nearby for Lease

    • $14 SF/Yr
      1,500 SF

      Office Space in Bartlett Center

      Office space for lease in a Bartlett strip center.
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      Memphis Retail Center Opportunity

      High-traffic retail space available in Memphis.
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      Stage Centre Retail Space - Bartlett, TN

      Prime Bartlett retail space, multiple units available.
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      76,486 SF

      Bartlett Retail Center Investment

      Class A Strip Center, 76,486 SF
      2823 Bartlett Blvfd, Bartlett, TN 38134
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      Retail Space in Bartlett, Tennessee

      Retail space available in established trade area, Bartlett, Tennessee.
      6822-6850 Stage Rd, Bartlett, TN 38134
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      Bartlett Shopping Center Retail Space

      193,619 SF shopping center with excellent visibility and access.
      5975-6045 Stage Rd, Bartlett, TN 38134
      View Details
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    6671 Summer Ave
    Bartlett, TN 38134-4788
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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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