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    690 Mississippi Blvd Memphis, TN 38126
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    690 Mississippi Blvd Memphis, TN 38126

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    • Commercial land
    For Sale
    $5,300,000
    View Listing →
    Large Urban Redevelopment Site For Sale
    $5,300,000

    Large Urban Redevelopment Site

    17 +/- acre redevelopment site in Memphis, Tennessee.

    690 Mississippi Blvd, Memphis, TN 38126
    View Listing
    Property ID
    US80-3454655
    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

    • Commercial land

    Property Details for 690 Mississippi Blvd

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Rare Large Urban Redevelopment Site This 17 +/- Parcel is an anchor to the City of Memphis ,Tennessee’s vision for redevelopment. This link: https://www.memphis3point0.com/_files/ugd/100a0d_c18faace70fe4f33a428dcaef469b996.pdf South City Plan details the time, money and resources committed to transform this area and create a new “’Small City”. An opportunity exists for a developer to have the City of Memphis as the wind behind the sail with support and economic incentives.

    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
    -90.0429008
    Latitude
    35.1280816

    Comparable in this City

    • Contact for pricing

      Vacant Land Near FedEx Forum

      7 +/- acres of vacant land in Memphis, Tennessee.
      Vance Ave, Memphis, TN 38126
      View Details
    • $40,000

      Vacant Commercial Parcel on Busy Street

      Vacant commercial land with high visibility and multiple potential uses.
      583 Eh Crump Blvd E, Memphis, TN 38126
      View Details
    • Contact for pricing

      Memphis Opportunity Zone Development Site

      Prime development site in downtown Memphis Opportunity Zone.
      337 S 4Th St, Memphis, TN 38126
      View Details
    • Contact for pricing

      Downtown Memphis Emerging Lot

      Fantastic lot in Downtown Memphis' CBID, near FedEx Forum.
      255 Vance Ave, Memphis, TN 38126
      View Details
    • Contact for pricing
      0.16 Acres

      Downtown Memphis Development Opportunity

      Land available in downtown Memphis with development incentives.
      475 E Georgia Ave, Memphis, TN 38126
      View Details
    • $500,000

      Memphis Opportunity Zone Development Site

      Prime development site in downtown Memphis Opportunity Zone.
      337 S 4Th St, Memphis, TN 38126
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Vacant Land Near FedEx Forum

      7 +/- acres of vacant land in Memphis, Tennessee.
      Vance Ave, Memphis, TN 38126
      View Details
    • $40,000

      Vacant Commercial Parcel on Busy Street

      Vacant commercial land with high visibility and multiple potential uses.
      583 Eh Crump Blvd E, Memphis, TN 38126
      View Details
    • $500,000

      Memphis Opportunity Zone Development Site

      Prime development site in downtown Memphis Opportunity Zone.
      337 S 4Th St, Memphis, TN 38126
      View Details
    • Contact for pricing
      0.07 Acres

      Memphis Land For Sale

      Land available in Memphis, Tennessee.
      813 Coahoma Pl, Memphis, TN 38126
      View Details
    • Contact for pricing
      0.03 Acres

      Land For Sale, Memphis

      Land available for developers or investors in Memphis, TN.
      Wicks Ave, Memphis, TN 38126
      View Details
    • Contact for pricing
      0.07 Acres

      Land For Sale, Memphis

      0.07 acre parcel of land for sale in Memphis.
      Driver St, Memphis, TN 38126
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      31,250 SF

      Memphis Industrial Space For Lease

      Industrial space available for lease in Memphis, Tennessee.
      761 South Danny Thomas Blvd, Memphis, TN 38126
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    • Contact for pricing
      8,100 SF

      Downtown Memphis Flex/Industrial Space

      Flex, industrial, storage, or data center space for rent.
      761-795 S Danny Thomas Blvd, Memphis, TN 38126
      View Details
    • Contact for pricing

      Warehouse Space Near Downtown Memphis

      Warehouse space with immediate access to Downtown Memphis and I-55.
      761 S Danny Thomas Blvd, Memphis, TN 38126
      View Details
    • $20 SF/Yr
      300 SF

      Office Space with Ample Parking

      Ground-level office space with convenient parking, near Germantown Parkway.
      320 Walnut St, Memphis, TN 38126
      View Details
    View Listing
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    690 Mississippi Blvd
    Memphis, TN 38126
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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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