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    8510 Wilkinsville Rd Millington, TN 38053
    Property profile & analytics

    8510 Wilkinsville Rd Millington, TN 38053

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    • Strip malls
    • 26,720 SF
    • 2.52 lot acres
    For Lease
    $2,790,000
    View Listing →
    Retail Space in Millington For Lease
    $2,790,000
    1,556 SF

    Retail Space in Millington

    Retail property available for lease in Millington, Tennessee.

    8510 Wilkinsville Rd, Millington, TN
    View Listing
    Property ID
    US80-0703313
    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

    • DaVita Millington Dialysis / Medical Clinic
    • CD Vapor / (Bike/Boat/Book/etc) Store
    • Dumpster Man Rental Millington TN / Corporate Office
    • Security Finance / Loan Service
    • Dun Dun's Fish Market & Hot Wings / Restaurant

    Property Details for 8510 Wilkinsville Rd

    Year built
    2008
    Lot size
    2.52 lot acres
    Property size
    26,720 SF
    Zone code
    P-C
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    M01-15R- -B-00006
    APU
    M0115RB00006

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,380,000
      Current use
      MEDICAL BUILDING
      $3,955,000
      Change: +66% Conversion: Difficult
      OFFICE BUILDING
      $3,195,000
      Change: +34% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,675,000
      Change: +12% Conversion: Difficult
      RETAIL STORES
      $2,400,000
      Change: +1% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,385,000
      Change: +0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Millington
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8962
    Latitude
    35.3591
    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
    $68,495
    $319,280
    $1,110,680
    $1,429,960
    -
    $798,200
    $2,776,700
    $3,574,900

    Comparable in this City

    • Value Estimation
      $625,000
      19,060 SF

      4806 Navy Rd

      SHOPPING CENTER, STRIP CENTER • 19,060 SF
      4806 Navy Rd, Millington, TN 38053
      View Details
    • Value Estimation
      $770,000
      6,928 SF

      8544 Us Hwy 51st N

      SHOPPING CENTER, STRIP CENTER • 6,928 SF
      8544 Us Hwy 51st N, Millington, TN 38053-1503
      View Details
    • Value Estimation
      $2,080,000
      20,000 SF

      8507 Us Hwy 51st N

      SHOPPING CENTER, STRIP CENTER • 20,000 SF
      8507 Us Hwy 51st N, Millington, TN 38053-1535
      View Details
    • Value Estimation
      $530,000
      4,928 SF

      8500 Wilkinsville Rd

      SHOPPING CENTER, STRIP CENTER • 4,928 SF
      8500 Wilkinsville Rd, Millington, TN 38053-1536
      View Details
    • Value Estimation
      $595,000
      10,273 SF

      5025 Ss St

      SHOPPING CENTER, STRIP CENTER • 10,273 SF
      5025 Ss St, Millington, TN 38053
      View Details
    • Value Estimation by Request
      4,559 SF

      6071 Us Hwy 51st N

      SHOPPING CENTER, STRIP CENTER • 4,559 SF
      6071 Us Hwy 51st N, Millington, TN 38053-7840
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,000 SF

      Millington Mixed-Use Community Retail Space

      Retail and hotel opportunities in Millington's first mixed-use community.
      7838 W Navy Cir, Millington, TN 38053
      View Details
    • Contact for pricing

      Millington Mixed-Use Development Opportunity

      Proposed mixed-use development with retail, hotel, and office opportunities.
      Navy Rd, Millington, TN 38053
      View Details
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      Retail Property with Long-Term Tenants

      Retail property with two long-term tenants in Millington, Tennessee.
      4758 Navy Rd, Millington, TN 38053
      View Details
    • $399,000
      3,500 SF

      Retail Space in Millington Heart

      Prime retail space in a well-connected Millington location.
      7713 Us Highway 51 N, Millington, TN 38053
      View Details
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      7,141 SF

      Goodyear Auto Service Investment Opportunity

      Single-tenant Goodyear property in Millington, TN with corporate-backed net lease.
      7991 Us Highway 51, Millington, TN 38053
      View Details
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      Retail Space Near Highway 51

      Retail space available near Highway 51 and Ford's Blue Oval City.
      7947 Us Highway 51 N, Millington, TN 38053
      View Details

    Similar Nearby for Lease

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      Retail Center on Highway 51

      Retail spaces available in Millington near major retailers.
      8390-8412 Us Highway 51 N, Millington, TN 38053
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      3,000 SF

      Retail Space Near Naval Base

      Retail space available in Millington near major employers.
      8540 Us Highway 51 N, Millington, TN 38053
      View Details
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      2,000 SF

      Retail Space in Millington Center

      Retail space available in a 143,489 SF shopping center.
      8219 Us Highway 51 N, Millington, TN 38053
      View Details
    • Contact for pricing

      Retail Center on Highway 51

      27,300 SF retail center in Millington, Tennessee.
      8390 Tn-3, Millington, TN 38053
      View Details
    • Contact for pricing

      Retail Space in Millington, TN

      Retail space with high visibility and strong anchor tenants.
      8223 Us Highway 51, Millington, TN 38053
      View Details
    • Contact for pricing

      Retail Space in Millington, TN

      Retail space in a vibrant Millington community near Memphis.
      8645 Creek Mill Ct, Millington, TN 38053
      View Details
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    Millington, TN 38053
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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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    8510 Wilkinsville Rd, Millington, TN, 38053
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