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

    7240 Goodlett Farms Pkwy Cordova, TN 38016-4925

    • Office buildings
    • 21,544 SF
    • 2.20 lot acres
    OFF-MARKET
    Last Sale
    Apr 11, 2024
    $2,075,000
    Value Estimations
    $2,210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1424765
    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

    • Howell, Gary J, Cpa / Accounting Firm / Tax Preparation
    • West Tennessee Family Solution / Charitable Organization / Social Service Agency
    • Lee Shari / Family Counselor
    • Jackson Howell & Associates PLLC / Accounting Firm / Tax Preparation
    • Jackson Howell & Associates: Adkins Jimmy R CPA / Accounting Firm / Tax Preparation

    Property Details for 7240 Goodlett Farms Pkwy

    Year built
    2000
    Lot size
    2.20 lot acres
    Property size
    21,544 SF
    Zone code
    EMP
    Property type
    Office buildings
    APN
    D02-07 - - -00336
    APU
    D020700336

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,053,000
      Market price range: $1.56M - $4.10M
      AI Estimate
      $1,943,000
      Market price range: $989k - $2.49M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,460,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $3,500,000
      Change: +42% Conversion: Difficult
      MEDICAL BUILDING
      $3,190,000
      Change: +30% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,155,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cordova
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8226
    Latitude
    35.1804
    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
    $28,522
    $160,400
    $680,960
    $841,360
    -
    $401,000
    $1,702,400
    $2,103,400

    Comparable in this City

    • Value Estimation
      $15,570,000
      130,112 SF

      1900 Charles Bryan Rd

      OFFICE BUILDING • 130,112 SF
      1900 Charles Bryan Rd, Cordova, TN 38016-5032
      View Details
    • Value Estimation
      $3,700,000
      39,581 SF

      7151 Cherry Farms Rd

      OFFICE BUILDING • 39,581 SF
      7151 Cherry Farms Rd, Cordova, TN 38016-4933
      View Details
    • Value Estimation
      $875,000
      7,590 SF

      1630 Bonnie Ln

      OFFICE BUILDING • 7,590 SF
      1630 Bonnie Ln, Cordova, TN 38016-0514
      View Details
    • Value Estimation
      $515,000
      7,098 SF

      8176 Old Dexter Rd

      OFFICE BUILDING • 7,098 SF
      8176 Old Dexter Rd, Cordova, TN 38016-0538
      View Details
    • Value Estimation
      $650,000
      6,750 SF

      1148 Vickery Ln

      OFFICE BUILDING • 6,750 SF
      1148 Vickery Ln, Cordova, TN 38016-1619
      View Details
    • Value Estimation
      $1,470,000
      7,590 SF

      1620 Bonnie Ln

      OFFICE BUILDING • 7,590 SF
      1620 Bonnie Ln, Cordova, TN 38016-0512
      View Details

    Similar Nearby for Sale

    • $795,000
      5,129 SF

      Renovated Turn-Key Office Building

      Stand-alone, renovated office building with ample parking in Memphis.
      1695 Bonnie Ln, Cordova, TN 38016
      View Details
    • $4,700,000
      28,500 SF

      Cordova Office Building Opportunity

      28,500 SF office building in Cordova, Tennessee for sale.
      7345 Goodlett Farms Pkwy, Cordova, TN 38016
      View Details
    • $795,000
      5,129 SF

      Prime Memphis Office Building

      5,129 SF Office, Retail Space
      1695 Bonnie Ln, Memphis, TN 38016
      View Details
    • $2,667,476

      Cordova Office Space Available

      Office property for sale in Cordova, Tennessee.
      1540 Appling Care Ln, Cordova, TN 38016
      View Details
    • $375,000

      Germantown Square Outparcel

      1.26-Acre Restaurant/QSR Lot
      1245 Germantown Pkwy, Memphis, TN 38016
      View Details
    • $345,000
      2.11 Acres

      Cordova Commercial Land - $345,000

      2.11 Acres, Prime Cordova Location
      1599 Appling Care Ln, Cordova, TN 38016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      106,480 SF

      Cordova Office and Fitness Space

      Office building with renovated lobby, fitness center, and walking trails.
      7130 Goodlett Farms Pkwy, Cordova, TN 38016
      View Details
    • Contact for pricing
      131,556 SF

      Prime Cordova Office Space

      Class A office building, multiple suites available.
      7000 Goodlett Farms Pkwy, Cordova, TN 38016
      View Details
    • Contact for pricing
      25,900 SF

      Briarwood Collection: Retail Space Available

      Prime Shelby County Retail Center, High Traffic Location
      1890 Germantown Pkwy, Memphis, TN 38016
      View Details
    • Contact for pricing
      21,204 SF

      Memphis Executive Office Suites

      Prime Cordova location, 5 suites available
      7990 Trinity Rd, Memphis, TN 38016
      View Details
    • $16 SF/Yr
      61,333 SF

      Shops at Rock Creek Office Suites

      Memphis, TN Office Space Available
      2362-2382 Germantown Pkwy, Memphis, TN 38016
      View Details
    • Contact for pricing
      146,626 SF

      Germantown Parkway Retail Space

      Memphis retail space: prime location, flexible layouts.
      1245 Germantown Pkwy, Memphis, TN 38016
      View Details
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    Cordova, TN 38016-4925
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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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